Yesterday, DKSH dipped 12.0 sen (-1.54%) to settle at RM7.68. From a technical perspective, DKSH has broken down from its multi-month support level of RM7.80. The MACD indicator has issued a negative cross-over below the Signal line. Besides, momentum indicators like Stochastic and RSI are also negative, further supporting the bearish outlook. With the strong selling pressure pilling up, we expect the share price to be dragged towards its next support level/100-day SMA level of RM7.53 (S1) and possibly RM7.30 (S2) further if selling continues. We suggest traders to look to take profit now, and maybe look to buy back at a lower entry price of RM7.30.

 

Source: Kenanga