NYLEX (Not Rated). Yesterday, NYLEX gained 7.0 sen (6.7%) to close at its intra-day high of RM1.12, forming a white “Marubozu” candlestick. This was accompanied with higher-than-average volume, with almost 4m shares exchanging hands, as compared to the 20-day average of 2.3m shares. Yesterday’s move marks as a breakout from a prior two-week consolidation, to close above its 20-day SMA line again, with minor upticks seen in all key-indicators. From here, we expect the share to trend towards its all-time high of RM1.19 (R1), with a higher resistance at RM1.35 (R2). A resistance-turnedsupport can be identified at RM1.04 (S1), with a stronger support further lower at RM0.94 (S2).
WEIDA (Not Rated). WEIDA gained 8.0 sen (4%) yesterday to close at RM2.10, breaking out above its previous resistance at 18-month high of RM2.05, which it retested trice within the past 3 months of consolidation. Yesterday’s trade was also accompanied by exceptionally high volume, with 615k shares exchanging hands, more than 4-fold its average volume of 140k shares. Additionally, yesterday’s move was followed with positive upticks in all key indicators, with the MACD crossing above its Signal-line. From here, continued momentum would bring the share closer towards resistances RM2.18 (R1) and RM2.26 (R2). An immediate resistance-turned-support can be found at the aforementioned RM2.05 (S1), with another support further lower at RM1.92 (S2).
Source: Kenanga Research - 25 Jul 2017
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calvintaneng
BOTH NYLEX AND WEIDA ARE GOOD WITH FUNDAMENTAL SUPPORT!!
BUT THE BEST BUY NOW IS L&G!!!
2017-07-25 21:25