Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Wed, 25 Nov 2020, 10:23 AM


Daily Technical Highlights – (MASTER, NAIM)

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MASTER (Not Rated)

  • MASTER gained 21.0 sen (+8.08%) to close at RM2.81 yesterday, backed by above-average trading volume.
  • Chart-wise, the stock has been on an uptrend since February last year.
  • Yesterday, the stock closed higher with the formation of a “Marubozu” candlestick, indicating strong buying interest. Given that all key-SMAs appear to be healthy, we expect the stock to trend higher.
  • From here on, overhead resistance can be seen at RM2.90 (R1) and RM3.10 (R2).
  • Conversely, downside supports can be identified at RM2.60 (S1) and RM2.30 (S2).

NAIM (Not Rated)

  • NAIM gained 16.0 sen (+14.04%) to close at RM1.30 yesterday.
  • Chart-wise, the stock has been gradually rising since end of May last year.
  • Yesterday’s “Marubozu” candlestick closed higher above its key resistance level at RM1.17. Despite the stock’s RSI trading near overbought levels, we believe the encouraging volume shall bring the stock to trend higher.
  • Should buying momentum persist, overhead resistance are at RM1.45 (R1) and RM1.60 (R2).
  • Conversely, support levels can be identified at RM1.12 (S1) and RM0.965 (S2).

Source: Kenanga Research - 23 Jan 2020

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Related Stocks

Chart Stock Name Last Change Volume 
MASTER 1.80 -0.04 (2.17%) 1,878,200 
NAIM 0.795 +0.02 (2.58%) 11,935,600 

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