Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 20 Sep 2019, 11:31 AM


Daily Technical Highlights – (PECCA, NAIM)

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PECCA (Not Rated)

  • PECCA gained 8.0 sen (+6.84%) to close at RM1.25 yesterday.
  • We noticed the share has been consolidating close to its 20- and 50-day SMAs. Yesterday’s candlestick marked a gap up and a break above its previous swing high (RM1.24).
  • With shorter-term key SMAs trending above longer-term SMAs, we believe the uptrend is intact and with PECCA having broken above its previous swing high, we believe momentum could continue.
  • Key resistance levels to look at are RM1.37 (R1) and RM1.45 (R2). Conversely, support levels can be identified at RM1.11 (S1) and RM1.03 (S2).

NAIM (Not Rated)

  • NAIM gained 3.0 sen (+2.83%) to end at RM1.09 yesterday.
  • Chart-wise, the share has broken above its 100-day SMA last Friday and is consolidating at a Fibonacci level.
  • Meaningful upticks from key momentum indicators like RSI and stochastic lead us to believe that the share could be poised to head higher.
  • Resistance levels can be identified at RM1.21 (R1) and RM1.44 (R2), while support levels can be found at RM1.06 (S1) and RM0.940 (S2).

Source: Kenanga Research - 22 Aug 2019

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Related Stocks

Chart Stock Name Last Change Volume 
PECCA 1.10 -0.01 (0.90%) 49,200 
NAIM 0.955 -0.005 (0.52%) 8,214,300 

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