Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 17 Oct 2019, 9:15 AM


Daily Technical Highlights – (PENTA, MALAKOF)

Author:   |    Publish date:

PENTA (Not Rated)

  • PENTA gained 18.0sen (+4.89%) to close at RM3.86 yesterday.
  • The share has been on an uptrend since early-January and is currently at its all-time high.
  • Yesterday’s candlestick closed higher and break above its ascending triangle pattern formation. Coupled with a bullish MACD Crossover and all key SMAs that appear to be healthy, we expect the share to trend higher.
  • With that, key resistances can be seen at RM4.20 (R1) and RM4.40 (R2).
  • Conversely, key support levels can be found at RM3.50 (S1) and RM3.30 (S2).

MALAKOF (Not Rated)

  • MALAKOF lost 1.0sen (-1.18%) to end at RM0.840 yesterday.
  • Chart-wise the share has been consolidating since early-August.
  • Yesterday’s candlestick gapped down and traded below all key SMAs, indicating that selling pressure has escalated. Coupled with below-average trading volume and lacklustre in key technical indicators, we expect the downtrend to persist.
  • Should selling pressure persist, key support levels can be seen at RM0.800 (S1) and RM0.740 (S2).
  • With that, key resistance levels can be seen at RM0.885 (R1) and RM0.925 (R2).
  • Source: Kenanga Research - 13 Sept 2019
Share this

Related Stocks

Chart Stock Name Last Change Volume 
PENTA 4.57 -0.10 (2.14%) 873,300 
MALAKOF 0.83 -0.005 (0.60%) 727,800 

  Be the first to like this.
5354_ Why only Penta move not Malakoff?
13/09/2019 11:45 AM


376  306  545  749 

Top 10 Active Counters
 ARMADA 0.44+0.03 
 GPACKET-WB 0.32+0.01 
 MESTRON 0.145+0.025 
 HSI-H8B 0.185-0.04 
 MYEG 1.25-0.15 
 SAPNRG 0.275+0.005 
 KNM 0.445+0.005 
 HSI-C7F 0.37+0.04 
 HSI-H8E 0.19-0.02 
 PERDANA 0.395+0.015 
Partners & Brokers