Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Mon, 26 Oct 2020, 10:23 AM

 

Daily Technical Highlights – (SCGM,GDB)

Author:   |    Publish date:


SCGM (Not Rated)

  • SCGM rose 10.0 sen (+6.62%) to close at RM1.61 yesterday.
  • Chart-wise, the stock has experienced a decline early-February this year and found support at its 100-Day SMA before resuming its uptrend.
  • Yesterday bullish “Marubozu” candlestick broke through the 50-Day SMA, indicating strong buying interest. Given the uptick in key technical indicators and bullish MACD cross over, we expect the uptrend to persist.
  • Should the buying momentum persist, key resistance levels are seen at RM1.70 (R1) and RM1.80 (R2).
  • Conversely, key support levels can be seen at RM1.50 (S1) and RM1.40 (S2).

GDB (Not Rated)

  • GDB was up by 6.5 sen (+9.70%) to finish at RM0.735 yesterday.
  • Chart-wise, the stock has been trending upwards since last year September, backed by strong buying momentum.
  • Yesterday candlestick continues to close higher with the formation of a “Marubozu” candlestick, signifying strong buying interest. Given that all key SMAs appear to be healthy, we believe the buying momentum would persist.
  • From here on, resistance can be identified at RM0.785 (R1) and RM0.820 (R2).
  • Conversely, its support levels can be identified at RM0.700 (S1) and RM0.625 (S2).

Source: Kenanga Research - 18 Feb 2020

Share this
Labels: SCGM, GDB

Related Stocks

Chart Stock Name Last Change Volume 
SCGM 3.00 -0.04 (1.32%) 2,445,900 
GDB 0.685 +0.025 (3.79%) 29,154,400 

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program
 
 

268  670  531  700 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 MRDIY 1.75+0.15 
 VSOLAR 0.03-0.005 
 ASB 0.185+0.02 
 MAHSING 0.98-0.06 
 LUSTER 0.17-0.005 
 KGROUP-OR 0.0050.00 
 IRIS 0.26-0.005 
 KANGER 0.1750.00 
 CAREPLS 3.71-0.07 
 SAPNRG 0.100.00 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS