Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 23 Jan 2020, 9:15 AM


Daily technical highlights – (HEIM, PENERGY)

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HEIM (Not Rated)

  • HEIM rose 20.0sen (+0.80%) to end at RM25.50 yesterday.
  • Chart-wise, the share has been on an uptrend since early October 2019. Yesterday’s candlestick closed higher to form a bullish candlestick, indicating buying momentum.
  • Coupled with the formation of a “Golden Cross” and uptick in key technical indicators, we see more upside potential.
  • Should buying momentum persist, overhead resistance can be seen at RM25.70 (R1) and RM26.00 (R2).
  • Conversely, key support levels can be found at RM25.00 (S1) and RM24.30 (S2).

PENERGY (Not Rated)

  • PENERGY jumped by 19.0 sen (+13.1%) to end at RM1.64 yesterday.
  • The share has been on a rally after breaking above all its key SMAs in early September. Yesterday’s candlestick formed a long bullish candlestick backed by above-average trading volume.
  • However given overbought signals from the RSI and Stochastic indicators, the share should likely experience a consolidation in the near-term.
  • With that, key resistance levels can be seen at RM1.80 (R1) and RM1.90 (R2).
  • Conversely, key support levels can be seen at RM1.40 (S1) and RM1.20 (S2).

Source: Kenanga Research - 12 Nov 2019

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Related Stocks

Chart Stock Name Last Change Volume 
HEIM 27.34 0.00 (0.00%)
PENERGY 1.31 0.00 (0.00%)

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