Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 6 Dec 2019, 5:41 PM


Daily Technical Highlights – (IKHMAS, FAJAR)

Author:   |    Publish date:

IKHMAS (Not Rated)

  • IKHMAS gained 4.0 sen (+24.24%) to close at RM0.205 yesterday, on the back of stronger-than-average trading volume with 45.4m shares exchanging hand- more than 9 folds to its 20-day average.
  • Technically, the share has broken out from the crucial RM0.190 resistance level, potentially to signal more possible upward movement.
  • Momentum indicators are mostly positive as displayed by strong upticks in RSI and Stochastic while MACD rising above its signal and Zero-line.
  • Follow-through momentum could see the share price trending higher towards resistances at RM0.220 (R1) and RM0.300 (R2).
  • Conversely, downside support level can be found closer to its 100-day SMA, RM0.140 (S1) and RM0.100 (S2).

FAJAR (Not Rated)

  • FAJAR gained 11.0 sen (+27.16%) to close at RM0.515 accompanied by explosive trading volume with 28.9m shares exchanging hand- 8 folds to its 20-day average.
  • Yesterday’s move saw the share decisively closing above all key SMAs with a formation of long bullish candlestick.
  • Momentum indicators appear leaning on the upside with upticks seen in RSI and Stochastic and bullish MACD.
  • From here, we expect the share to advance towards resistance at RM0.545 (R1) where a break above R1 would see next resistance at RM0.620 (R2).
  • Failing to break R1 would then see immediate support closer to its 100-day SMA RM0.375 (S1) and RM0.300 (S2) further down.

Source: Kenanga Research - 23 Apr 2019

Share this

Related Stocks

Chart Stock Name Last Change Volume 
IKHMAS 0.075 0.00 (0.00%) 1,142,200 
FAJAR 0.355 -0.005 (1.39%) 197,100 

  Be the first to like this.


436  284  495 

Top 10 Active Counters
 HSI-C7K 0.275+0.01 
 KHEESAN 0.485+0.005 
 IMPIANA 0.0250.00 
 ARMADA 0.475-0.02 
 HSI-H8F 0.25-0.015 
 TDM 0.275+0.03 
 FINTEC 0.0550.00 
 KNM 0.360.00 
 KNM-WB 0.075-0.01 
 MTRONIC-WA 0.010.00 


1. Leveraged & Inverse ETF CMS
Partners & Brokers