Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 23 Oct 2020, 9:20 AM

 

Daily technical highlights – (GDB, TOPGLOV)

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GDB (Not Rated)

  • GDB gained 2.0sen (+4.49%) to close at RM0.465 yesterday.
  • Chart-wise, the stock has been on a down trend since mid-February this year.
  • Yesterday, the stock closed higher, backed by above average trading volume. Coupled with a potential bullish MACD crossover and the formation of a saucer pattern, we thus expect the uptrend to persist.
  • From here on, overhead resistance can be seen at RM0.550 (R1) and RM0.625 (R2).
  • Conversely, downside supports can be identified at RM0.425 (S1) and RM0.380 (S2).

TOPGLOV (Not Rated)

  • TOPGLOV gained 9.0 sen (+1.47%) to close at RM6.20 yesterday.
  • Chart-wise, the stock has been on an uptrend since early January this year.
  • Yesterday’s candlestick closed higher and continued to trade above all key SMAs, indicating strong buying momentum. Coupled with an uptick in key technical indicator, we expect the bullish momentum to persist.
  • Should buying momentum persist, overhead resistance is at RM6.40 (R1) and RM6.60 (R2).
  • Conversely, support levels can be identified at RM6.00 (S1) and RM5.70 (S2).

Source: Kenanga Research - 26 Mar 2020

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Labels: GDB, TOPGLOV

Related Stocks

Chart Stock Name Last Change Volume 
GDB 0.66 -0.025 (3.65%) 7,528,300 
TOPGLOV 8.70 -0.20 (2.25%) 33,599,300 

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