Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 24 Jan 2020, 4:01 PM


Daily Technical Highlights – (DAYANG,INARI)

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DAYANG (Not Rated)

  • DAYANG gained 10.0sen (+4.63%) to close at RM2.26 yesterday.
  • Chart-wise the stock has been on an uptrend since late-May.
  • Yesterday’s bullish candlestick formation has lifted the stock to close above all key-SMAs. Despite its RSI hovering at overbought levels, we believe there are more upsides for the stock as all key-SMAs appear to be showing healthy signals.
  • Should the stock trend higher, key resistance can be found at RM2.40 (R1) and RM2.60 (R2).
  • Conversely, its key support levels are found at RM2.00 (S1) and RM1.70 (S2).

INARI (Not Rated)

  • INARI gained 4.0sen (+2.22%) to end at RM1.84 yesterday.
  • Chart-wise, the stock has been on a downtrend since late-October.
  • Yesterday’s candlestick formation has pushed the stock to stay above its 100-Day SMA, backed by above average trading volume. Given that RSI and Stochastic appear to be at oversold levels, we believe the stock is set for a technical rebound and could continue its upward momentum from there on.
  • Should the buying momentum persist, key resistance can be found at RM1.95 (R1) and RM2.10 (R2).
  • Conversely, downside supports can be identified at RM1.60 (S1) and RM1.40 (S2)

Source: Kenanga Research - 6 Dec 2019

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Related Stocks

Chart Stock Name Last Change Volume 
DAYANG 2.84 -0.03 (1.05%) 3,822,300 
INARI 1.90 +0.14 (7.95%) 31,351,000 

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