Highlights

Kenanga Research & Investment

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

 

Daily technical highlights – (RSAWIT, GADANG) RSAWIT (Not Rated)

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RSAWIT (Not Rated)

• RSAWIT gained 2.00sen (+7.84%) to close at RM0.275 yesterday.

• Chart-wise, the stock has been on an uptrend since mid-March.

• Yesterday’s candlestick closed higher and found support at its 100-day SMA. Coupled with an uptick in RSI and a bullish MACD, we thus expect the share to trend higher.

• From here on, overhead resistance can be seen at RM0.295 (R1) and RM0.350 (R2).

• Conversely, downside supports can be identified at RM0.235 (S1) and RM0.210 (S2).

GADANG (Not Rated)

• GADANG gained 7.0 sen (+18.18%) to close at RM0.455 yesterday.

• Chart-wise, the stock has been on an uptrend since late-March.

• Yesterday’s closed higher with the formation of a “Marubozu” candlestick backed by above-average trading volume. Given an uptick in the 20-Day SMA, we expect the upward momentum to persist.

• Should the stock continue heading upward, overhead resistance is seen at RM0.450 (R1) and RM0.590 (R2).

• Conversely, support levels can be identified at RM0.360 (S1) and RM0.290 (S2).

Source: Kenanga Research - 19 May 2020

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Labels: RSAWIT, GADANG

Related Stocks

Chart Stock Name Last Change Volume 
RSAWIT 0.295 0.00 (0.00%) 13,853,500 
GADANG 0.45 -0.015 (3.23%) 8,030,200 

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