Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 15 Nov 2019, 10:29 AM


Daily Technical Highlights – (BJTOTO, REVENUE)

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BJTOTO (Not Rated)

  • Yesterday, BJTOTO gained 2.0 sen (+0.72%) to close at RM2.80.
  • Chart-wise, the share has been on a steady uptrend since the beginning of the year. We note that the share is also currently trading above all of its key SMAs.
  • Given its key momentum indicators, which are still trading within the neutral zone, we believe that there could be room for further upside.
  • Should bullish momentum persist, resistance levels can be identified at RM2.95 (R1) and RM3.15 (R2).
  • Conversely, downside supports can be found at RM2.60 (S1) and RM2.40 (S2).

REVENUE (Not Rated)

  • REVENUE rose 6.0 sen (+3.75%) to end at RM1.66 yesterday, on the back of stronger-than-average trading volume.
  • Of late, we noticed the share managed to break through and hold above its key resistance level at RM1.55, following the formation of a long white candlestick a few days ago.
  • Coupled with upticks from key technical indicators, we believe that the share may continue trending upwards.
  • Expect the share to test resistance levels at RM1.75 (R1) and RM1.95 (R2).
  • Conversely, key support level can be identified at RM1.40 (S1) and RM1.30 (S2).

Source: Kenanga Research - 11 Jul 2019

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Related Stocks

Chart Stock Name Last Change Volume 
BJTOTO 2.57 -0.05 (1.91%) 836,200 
REVENUE 1.72 -0.03 (1.71%) 799,300 

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