Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Tue, 25 Feb 2020, 9:47 AM

 

Daily technical highlights – (JAKS,COASTAL)

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JAKS (Not Rated)

  • JAKS gained 12.0 sen (+9.45%) to close at RM1.39 yesterday.
  • Chart-wise, the stock has broken above the significant resistance level at RM1.38, backed by higher-than-average trading volume.
  • Coupled with a bullish crossover signal from MACD indicator, we believe the stock can move higher.
  • Should the stock continue to head north, its key resistance levels are seen at RM1.53 (R1) and RM1.63 (R2).
  • Conversely, key support levels can be seen at RM1.23 (S1) and RM1.13 (S2).

COASTAL (Not Rated)

  • COASTAL gained 8.0sen (+6.45%) to end at RM1.32 yesterday.
  • Chart-wise, the stock has broken above all the key SMAs yesterday, coupled with higher-than-average trading volume.
  • Besides, the bullish signal from MACD indicator further supports the underlying trend.
  • From here on, its key resistance levels can be found at RM1.40 (R1) and RM1.50 (R2).
  • Conversely, downside supports can be identified at RM1.20 (S1) and RM1.16 (S2).

Source: Kenanga Research - 16 Jan 2020

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Labels: COASTAL, JAKS

Related Stocks

Chart Stock Name Last Change Volume 
COASTAL 1.22 +0.01 (0.83%) 30,000 
JAKS 1.46 +0.02 (1.39%) 10,095,000 

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