PENTA gained 18.0sen (+4.89%) to close at RM3.86 yesterday.
The share has been on an uptrend since early-January and is currently at its all-time high.
Yesterday’s candlestick closed higher and break above its ascending triangle pattern formation. Coupled with a bullish MACD Crossover and all key SMAs that appear to be healthy, we expect the share to trend higher.
With that, key resistances can be seen at RM4.20 (R1) and RM4.40 (R2).
Conversely, key support levels can be found at RM3.50 (S1) and RM3.30 (S2).
MALAKOF (Not Rated)
MALAKOF lost 1.0sen (-1.18%) to end at RM0.840 yesterday.
Chart-wise the share has been consolidating since early-August.
Yesterday’s candlestick gapped down and traded below all key SMAs, indicating that selling pressure has escalated. Coupled with below-average trading volume and lacklustre in key technical indicators, we expect the downtrend to persist.
Should selling pressure persist, key support levels can be seen at RM0.800 (S1) and RM0.740 (S2).
With that, key resistance levels can be seen at RM0.885 (R1) and RM0.925 (R2).
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5354_
Why only Penta move not Malakoff?
2019-09-13 11:45