Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 22 May 2020, 9:50 AM


Daily Technical Highlights – (KRONO,FOCUS)

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KRONO (Not Rated)

  • KRONO lost 1.5 sen (-3.53%) to close at RM0.410 yesterday.
  • Chart-wise, the stock has been trading below all the key SMAs, accompanied by higher-than-average trading volume.
  • Coupled with bearish signal from MACD and uninspiring momentum indicator, we believe the stock price could drop further.
  • From here on, downside supports can be identified at RM0.310 (S1) and RM0.220 (S2)
  • Conversely, overhead resistance can be seen at RM0.510 (R1) and RM0.600 (R2).

FOCUS (Not Rated)

  • FOCUS gained 1.0 sen (+1.53%) to close at RM0.665 yesterday.
  • Chart-wise, the stock has rebounded upon touch the support level at the 100-days SMA level, backed by higher-thanaverage trading volume.
  • Yesterday, the stock has been testing the resistance level at 20 and 50-days SMAs, however, breakout signal such as breaking above all SMAs is required to confirm a strong rebound.
  • Should buying momentum persist, overhead resistance is at RM0.700 (R1) and RM0.800 (R2).
  • Conversely, support levels can be identified at RM0.620 (S1) and RM0.570 (S2).

Source: Kenanga Research - 27 Mar 2020

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Related Stocks

Chart Stock Name Last Change Volume 
FOCUS 0.705 -0.005 (0.70%) 3,423,100 
KRONO 0.52 -0.01 (1.89%) 8,808,400 

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