Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 22 Nov 2019, 9:52 AM


Daily Technical Highlights – (KNM,SALUTE)

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KNM (Not Rated)

  • Yesterday, KNM rose 0.50 sen (+1.10%) to close at RM0.460.
  • Chart-wise, the share has been on a rally since the end of last year, which saw it currently trading steadily above all of its keySMAs.
  • As its momentum indicators remain encouraging, we believe that the bullish momentum may persist on the back of its stronger-than-average trading volumes.
  • Expect the share to trend higher to test the resistance level at RM0.520 (R1) and RM0.575 (R2)
  • On the other hand, support levels can be found at RM0.360 (S1) and RM0.300 (S2).

SALUTE (Not Rated)

  • SALUTE gained 5.50 sen (6.25%) to end at RM0.935 yesterday.
  • Chart-wise, the share has been on a steady uptrend since July this year.
  • Coupled with bullish MACD indicator, we believe the share could move higher.
  • Should the buying interest persist, the key resistance levels to look out for are RM1.25 (R1) and RM1.10 (R2).
  • Conversely, downside supports can be identified at RM0.800 (S1) and RM0.660 (S2).

Source: Kenanga Research - 22 Oct 2019

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Related Stocks

Chart Stock Name Last Change Volume 
KNM 0.375 -0.025 (6.25%) 119,221,400 
SALUTE 0.835 -0.01 (1.18%) 521,900 

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