Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Tue, 22 Oct 2019, 9:23 AM

 

Daily Technical Highlights – (FPGROUP, GTRONIC)

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FPGROUP (Not Rated)

  • FPGROUP gained 1.5 sen (+2.47%) to close at RM0.415 yesterday.
  • The share has been on a rally after breaking above all its key SMAs in August (after releasing a good set of results).
  • However the rally appears overextended and we opine the share should undergo a consolidation or retrace closer to its moving averages in the near term.
  • Key support levels to look out for are RM0.390 (S1) and RM0.350 (S2).
  • Nevertheless, should buying momentum continue, resistances can be found at RM0.455 (R1) and RM0.520 (R2).

GTRONIC (Not Rated)

  • Yesterday, GTRONIC rose 6.0 sen (+3.37%) to end at RM1.84.
  • Chart-wise, the share has been slowly inching upwards after its plunge in early-Aug 2019. Yesterday’s close saw the formation of a long bullish candlestick, indicating buying momentum.
  • Coupled with encouraging signals from key momentum indicators and the fact that the share remains above its key SMAs, we believe buying momentum could remain strong.
  • From here, resistances can be found at RM1.90 (R1) and RM2.07 (R2).
  • Conversely, downside supports can be identified at RM1.80 (S1) and RM1.72 (S2).

Source: Kenanga Research - 20 Sept 2019

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Labels: FPGROUP, GTRONIC

Related Stocks

Chart Stock Name Last Change Volume 
FPGROUP 0.475 0.00 (0.00%) 18,812,200 
GTRONIC 2.27 +0.07 (3.18%) 4,274,500 

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