Daily technical highlights – (D&O, ELKDESA)
D&O (Not Rated)
![](/pub/blog/bl6/d&o_20191031095859.png)
- Yesterday, D&O rose 2.5 sen (+3.38%) to close at RM0.765.
- Chart-wise, the share has been trading above all the key SMAs followed by significant increase in trading volume.
- Moreover, the MACD indicator has also shown bullish signal, hence we opine that the share could trade higher.
- We look towards resistance levels at RM0.860 (R1) and RM0.920 (R2). Conversely, support levels can be identified at RM0.650 (S1) and RM0.600 (S2).
ELKDESA (Not Rated)
![](/pub/blog/bl6/elkk_20191031095909.png)
- ELKDESA gained 5.0 sen (+2.99%) to end at RM1.72 yesterday.
- Chart-wise, the share has broken above the important resistance level at RM1.70, backed by significant trading volume.
- Besides, bullish crossover signal from MACD indicator further supports the bullish sentiment, hence we believe the share could trade higher.
- Should the share head north, key resistance levels can be seen at RM1.80 (R1) and RM1.85 (R2)
- Conversely, downside supports can be identified at RM1.64 (S1) and RM1.58 (S2).
Source: Kenanga Research - 30 Oct 2019