Kenanga Research & Investment

Daily technical highlights – (KNM, ECONBHD)

kiasutrader
Publish date: Fri, 03 May 2019, 09:43 AM


KNM (Not Rated)
Yesterday, KNM dropped 1.0 sen (-4.65%) to close at RM0.205.
Despite yesterday’s loss, the share’s uptrend still remains intact which was accompanied by stronger-than-average trading
volumes.

Technical picture, on the other hand, appears positive with its momentum indicators in a bullish convergence with the
uptrend.

Recent moves saw the share retesting a key resistance level at RM0.225 (R1). Hence, a decisive breakout from R1 will likely
signal further gains towards R2 at RM0.250.

Conversely, downside supports can be identified at RM0.150 (S1) and RM0.115 (S2).


ECONBHD (Not Rated)
ECONBHD lost 2.0 sen (-3.10%) yesterday to end at the key support level at RM0.625.
Chart-wise, the share’s recent sell down saw a formation of a “flag pattern” which could possibly indicate that the share is
merely taking a breather before continuing with its uptrend.

Therefore, a rebound from a significant support level at RM0.625 may see a continuation of the uptrend towards RM0.830
(R1) and RM0.975 (R2).

On the other hand, a decisive break below the aforementioned support level may see the share trending lower towards
RM0.515 (S1) and RM0.415 (S2)

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