Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Mon, 18 Jan 2021, 10:48 AM


Daily Technical Highlights – (KAB, BAHVEST)

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KAB (Not Rated)

  • Yesterday, KAB gained 13.0 sen (+7.78%) to close at RM1.80.
  • Chart-wise, we note that the stock has begun trending upwards since last year December.
  • Following the formation of a “Marubozu” candlestick yesterday which suggests robust buying interest, we believe that the stock may be poised for more upside.
  • Expect the stock to trend higher to test resistances at RM2.00 (R1) and RM2.20 (R2).
  • Conversely, downside supports can be identified at RM1.60 (S1) and RM1.40 (S2).

BAHVEST (Not Rated)

  • BAHVEST rose 2.0 sen (+3.64%) to close at RM0.570 yesterday.
  • After a gradual sell down, the stock has been undergoing a period of consolidation since October last year.
  • Nonetheless, recent buying interests have managed to push the stock to trend above all of its key SMAs. Alongside with the formation of a “Golden Cross” a few days ago, we believe that the stock may continue to trend higher.
  • Should buying momentum persist, overhead resistance can be found at RM0.650 (R1) and RM0.730 (R2).
  • Conversely, support levels can be identified at RM0.470 (S1) and RM0.420 (S2).

Source: Kenanga Research - 24 Jan 2020

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Related Stocks

Chart Stock Name Last Change Volume 
KAB 1.02 0.00 (0.00%)
BAHVEST 0.555 +0.005 (0.91%) 2,427,100 

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