CMSB rose 14.0 sen (+6.00%) to close at RM2.49 yesterday.
Technically, the share seems to be taking a breather from the downtrend that started in April as shown by the three consecutive white candlesticks that formed recently, particularly with yesterday’s candlestick closing above its 20 and 50-day SMA.
Additionally, momentum indicators continue to show positive upticks on the back of a bullish MACD crossover, displaying signs of possible reversal.
Should positive bias persist, resistance levels can be found at RM2.90 (R1) and RM3.10 (R2).
Conversely, downside supports can be found at RM2.55 (S1) and RM2.25 (S2).
HLFG (Not Rated)
HLFG fell 12.0 sen (-0.7%) to RM16.76 as investors reacted to the weaker 1Q20 earnings report card.
Technically, the share has been slowly recovering since breaking below its 20-day SMA in July. However, we note that shorter-term SMAs are still trading below longer-term SMAs, indicating downwards sentiment. Coupled with the lack of positive upticks from key momentum indicators, we opine that there is more downside room.
Should selling momentum persist, we expect to find supports at RM16.50 (S1) and RM16.00 (S2).
Conversely, resistance levels can be found at RM17.10 (R1) and RM17.50 (R2).
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