Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 24 May 2019, 9:34 AM

 

Daily Technical Highlights – (BAHVEST, TRC)

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BAHVEST (Not Rated)

  • BAHVEST declined by 4.0 sen (-6.50%) to close at RM0.575.
  • Over the past few trading weeks, the share saw sell-down and plunged below both the 20 and 50-day SMAs.
  • While outlook appears bearish, we think that it may be overdone and there might be a possibility of a rebound.
  • Should it happen, we expect the share to test its resistance at RM0.635 (R1) where a break above R1 would see it rally to RM0.700 (R2).
  • Conversely, continuous downward momentum will see supports at RM0.550 (S1) and even RM0.460 (S2).

TRC (Not Rated)

  • TRC rose by 4.50 sen (+6.62%) yesterday to close at RM0.725.
  • The share has been on a rally since mid-June last year and has since displayed healthy key SMAs.
  • Yesterday chart closed with a long bullish candle stick. Despite RSI is close to the overbought region, we believe the bullish momentum could persist at key SMAs remain intact.
  • Should buying momentum persist, we expect the share to test its resistance at RM0.750 (R1) and further ahead at RM0.785 (R2).
  • Conversely, downside supports can be found at RM0.670 (S1) and RM0.615 (S2).

Source: Kenanga Research - 18 Apr 2019

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Labels: BAHVEST, TRC

Related Stocks

Chart Stock Name Last Change Volume 
BAHVEST 0.635 -0.01 (1.55%) 6,824,100 
TRC 0.665 +0.005 (0.76%) 123,000 

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