DESTINI gained 1.0 sen (+3.85%) to end at RM0.270.
After gapping down post-GE14, the share had traded below the 20-day SMA with other key indicators showing bearishness.
However, there appears to be a change in trend after it started trading above the 20-day SMA last week. Moreover, yesterday’s move was backed by high trading volume, possibly signalling more upside.
The share may continue to rally towards the RM0.300 (R1) resistance level and possibly RM0.390 (R2).
Conversely, downside support can be identified at RM0.250 (S1) and RM0.200 (S2).
MAGNI (Not Rated)
MAGNI gained 29.0 sen (+5.6%) to end at RM5.50, with above-average trading volume.
MAGNI started its trending lower since Sep-2017, with its price hitting a low of RM4.10 in Feb-2018. However, recent series of white candlesticks may signal that the stock has bottomed out and poised for a recovery.
Technical outlook is positively biased with recent key SMAs’ formation of “Golden Crossover” and up trending momentum indicators.
Expect follow-through buying towards RM5.90 (R1) and RM6.33 (R2) further up.
Conversely, downside supports are identified at RM4.96 (S1) and RM4.10 (S2).
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