Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Wed, 20 Nov 2019, 12:17 PM


Daily Technical Highlights – (SUNREIT,BJTOTO)

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SUNREIT (Not Rated)

  • SUNREIT gained 1.0 sen (+0.52%) to close at RM1.92 yesterday.
  • The share has been trending sideway since May-2019, and it has recently continued to move higher after breaking out from its key SMAs to test its historical high at RM1.97.
  • Given that Stochastic are at oversold levels while coupled with uninspiring trading volume and MACD indicator, we believe that it appears to be lack of momentum to breakout from the sideway range.
  • Should the share continue its upward movement, key resistance level can be found at RM1.95 (R1) and RM2.00 (R2).
  • Conversely, downside support can be identified at RM1.85 (S1) and RM1.82 (S2).

BJTOTO (Not Rated)

  • BJTOTO gained 7.0 sen (+2.64%) to end at RM2.72 yesterday.
  • Chart-wise, the share has been steadily trending upwards since Jan-2019.
  • Then recent breakout from the key SMAs with a long bullish candlestick suggested that the share could trend higher.
  • Should the buying momentum persist, resistance level can be found at RM2.83 (R1) and RM2.78 (R2).
  • Conversely, support levels can be identified at RM2.58 (S1) and RM2.50 (S2).

Source: Kenanga Research - 14 Aug 2019

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Related Stocks

Chart Stock Name Last Change Volume 
SUNREIT 1.87 -0.01 (0.53%) 911,800 
BJTOTO 2.62 +0.06 (2.34%) 970,500 

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