Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 4 Dec 2020, 8:55 AM


Daily Technical Highlights – (KOSSAN, BJFOOD)

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KOSSAN (Not Rated)

  • KOSSAN dropped 5.0 sen (-0.50%) to close at RM4.70 yesterday.
  • Chart-wise, the stock has been consolidating since mid-March this year.
  • Yesterday, the stock continued to find support at its 50-Day SMA despite strong selling volume. Coupled with an uptick in RSI we believe the stock will trend higher.
  • From here on, overhead resistance can be seen at RM5.00 (R1) and RM5.40 (R2).
  • Conversely, downside supports can be identified at RM4.50 (S1) and RM4.15 (S2).

BJFOOD (Not Rated)

  • BJFOOD gained 3.0 sen (+2.50%) to close at RM1.23 yesterday.
  • Chart-wise, the stock has rebounded since mid-March this year.
  • Yesterday’s bullish candlestick marked its third bullish candlestick, indicating strong buying momentum. Coupled with a potential bullish MACD crossover, we believe the stock continue its uptrend.
  • Should buying momentum persist, overhead resistance is at RM1.30 (R1) and RM1.50 (R2).
  • Conversely, support levels can be identified at RM1.15 (S1) and RM1.00 (S2).

Source: Kenanga Research - 24 Mar 2020

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Related Stocks

Chart Stock Name Last Change Volume 
KOSSAN 6.10 -0.10 (1.61%) 4,612,400 
BJFOOD 1.62 0.00 (0.00%) 176,000 

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