Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 12 Dec 2019, 11:54 AM


Daily technical highlights – (D&O, ELKDESA)

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Daily technical highlights – (D&O, ELKDESA)

D&O (Not Rated)

  • Yesterday, D&O rose 2.5 sen (+3.38%) to close at RM0.765.
  • Chart-wise, the share has been trading above all the key SMAs followed by significant increase in trading volume.
  • Moreover, the MACD indicator has also shown bullish signal, hence we opine that the share could trade higher.
  • We look towards resistance levels at RM0.860 (R1) and RM0.920 (R2). Conversely, support levels can be identified at RM0.650 (S1) and RM0.600 (S2).

ELKDESA (Not Rated)

  • ELKDESA gained 5.0 sen (+2.99%) to end at RM1.72 yesterday.
  • Chart-wise, the share has broken above the important resistance level at RM1.70, backed by significant trading volume.
  • Besides, bullish crossover signal from MACD indicator further supports the bullish sentiment, hence we believe the share could trade higher.
  • Should the share head north, key resistance levels can be seen at RM1.80 (R1) and RM1.85 (R2)
  • Conversely, downside supports can be identified at RM1.64 (S1) and RM1.58 (S2).

Source: Kenanga Research - 30 Oct 2019

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Labels: D&O, ELKDESA

Related Stocks

Chart Stock Name Last Change Volume 
D&O 0.725 -0.005 (0.68%) 549,100 
ELKDESA 1.65 -0.01 (0.60%) 176,000 

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