Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Wed, 3 Jun 2020, 9:04 AM


Daily Technical Highlights – (OMESTI, MUHIBAH)

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OMESTI (Not Rated)

  • Yesterday, OMESTI gained 8.5 sen (+18.28%) to close at RM0.550.
  • Chart-wise, the stock has broken above the 50 and 100-days SMAs yesterday, backed by higher-than-average trading volume.
  • Coupled with bullish signal from MACD indicator, we believe the stock could trend higher.
  • From here on, overhead resistance can be seen at RM0.610 (R1) and RM0.680 (R2).
  • Conversely, downside supports can be identified at RM0.430(S1) and RM0.360 (S2).

MUHIBAH (Not Rated)

  • Yesterday, MUHIBAH rose 11.50 sen (+12.99%) to close at RM1.00.
  • Chart-wise, the stock continued to trade above the 20-days SMA, supported by higher-than-average trading volume.
  • Coupled with bullish signal from MACD, we believe the stock could move higher.
  • Should buying momentum persist, overhead resistance is at RM1.29 (R1) and RM1.62 (R2).
  • Conversely, support levels can be identified at RM0.860 (S1) and RM0.750 (S2).

Source: Kenanga Research - 10 Apr 2020

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Related Stocks

Chart Stock Name Last Change Volume 
OMESTI 0.565 -0.02 (3.42%) 4,147,700 
MUHIBAH 0.92 -0.015 (1.60%) 4,131,500 

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