Daily technical highlights – (D&O, ELKDESA)

D&O (Not Rated)

• 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)

• 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