Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Tue, 25 Jun 2019, 10:52 AM

 

Daily Technical Highlights – (PHARMA, CANONE)

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PHARMA (Not Rated)

  • PHARMA gained 8.0 sen (+3.25%) yesterday to close at RM2.54.
  • Chart-wise, the share appears to have bottomed out from the downtrend with strong upward movement over the past two weeks.
  • Yesterday’s move saw the share attempting to break above the 100-day SMA.
  • Should it be able to break above the 100-day SMA, the share may then rally further to its resistances at RM2.75 (R1) and RM2.90 (R2).
  • Conversely, downside supports can be found at RM2.40 (S1) and RM2.25 (S2).

CANONE (Not Rated)

  • CANONE climbed up 13.0 sen (+4.21%) to end at RM3.22.
  • Yesterday’s rally was backed by strong trading volume. More notably, it broke above its 20-day SMA, possibly indicating more upward movements.
  • Stochastic indicator also appears to be rebounding from the oversold zone.
  • From here, the share may rally further up to its resistance at RM3.40 (R1) and even RM3.80 (R2).
  • Conversely, supports are identified at RM3.05 (S1) and RM2.80 (S2) if the buying momentum does not sustain.

Source: Kenanga Research - 30 Apr 2019

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Labels: PHARMA, CANONE

Related Stocks

Chart Stock Name Last Change Volume 
PHARMA 2.80 +0.02 (0.72%) 242,900 
CANONE 3.70 +0.05 (1.37%) 44,200 

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