Highlights

Kenanga Research & Investment

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

 

Daily Technical Highlights – (GTRONIC, REDTONE)

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GTRONIC (Not Rated)

  • GTRONIC rose 23.0 sen (+11.98%) to close at RM2.15 yesterday.
  • Chart-wise, the share has been consolidating between a range of RM1.36 and RM2.10 since the beginning of this year. Notably, yesterday’s long white candlestick managed to punch through and close above the key resistance level at RM2.10.
  • Should buying momentum persists to hold the share above the foresaid key level, expect the share to trend higher to test resistances at RM2.32 (R1) and RM2.55 (R2)
  • On the other hand, support levels can be found at RM1.82 (R1) and RM1.37 (R2).

REDTONE (Not Rated)

  • Yesterday, REDTONE gained 1.0 sen (+2.27%) to close at RM0.450.
  • Chart-wise, the share has been on a steady uptrend since March this year, which saw the share currently trading above all of its key-SMAs.
  • With room for further upticks on RSI and Stochastic indicators, we believe that the share may be poised for more upside possibility.
  • Key resistance levels to look out for are RM0.515 (R1) and RM0.565 (R2).
  • Conversely, downside supports can be identified at RM0.340 (S1) and RM0.275 (S2).

Source: Kenanga Research - 27 Sept 2019

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Labels: GTRONIC, REDTONE

Related Stocks

Chart Stock Name Last Change Volume 
GTRONIC 2.11 +0.01 (0.48%) 1,300,900 
REDTONE 0.545 +0.03 (5.83%) 8,013,800 

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