Highlights

Kenanga Research & Investment

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

 

Daily Technical Highlights – (FGV, RSAWIT)

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FGV (Not Rated)

  • FGV rose 9.5 sen (+10.16%) to close at RM1.03 yesterday.
  • Chart-wise, the stock continued to close higher after breaking above the “Flag” pattern few days ago, backed by higher-than average trading volume.
  • Coupled with bullish signal from MACD indicators, we believe the stock may trend higher.
  • From here on, overhead resistance can be found at RM1.12 (R1) and RM1.25 (R2).
  • Conversely, downside supports can be identified at RM0.900 (S1) and RM0.720 (S2).

 

RSAWIT (Not Rated)

  • RSAWIT gained 3.5 sen (+12.73%) to close at RM0.310 yesterday
  • Chart-wise, the stock continued to close higher after breaking above all the key-SMAs line, backed by higher-than-average trading volume.
  • Coupled with bullish signal from MACD and uptick in momentum indicator, we believe the stock could move higher.
  • Should the bullish momentum persist, overhead resistance is seen at RM0.355 (R1) and RM0.410 (R2).
  • Conversely, support levels are identified at RM0.260 (S1) and RM0.190 (S2).

 

Source: Kenanga Research - 20 May 2020

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Labels: RSAWIT, FGV

Related Stocks

Chart Stock Name Last Change Volume 
RSAWIT 0.295 0.00 (0.00%) 13,853,500 
FGV 1.26 -0.02 (1.56%) 6,886,500 

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