Daily technical highlights – (HLBANK, WIDAD)

HLBANK (Not Rated)

• HLBANK rose 42.0 sen (+2.49%) to close at RM17.28 yesterday.
• Chart-wise, the share has broken above the all key SMAs yesterday after a long downtrend since March-2019.
• Besides, bullish crossover signal from MACD indicator further support the change in trend.
• Should positive bias persist, resistance levels can be found at RM17.80 (R1) and RM18.60 (R2).
• Conversely, downside supports can be found at RM16.50 (S1) and RM16.00 (S2).

WIDAD (Not Rated)

• WIDAD gained 0.5 sen (+0.99%) to close at RM0.510 yesterday.
• Chart-wise, the share has been moving within the rising channel since October-2019 coupled with higher-than-average trading volume.
• Moreover, the share also trading above all the key SMAs with bullish signal from MACD indicator, hence we opine that the uptrend remain intact.
• Should buying momentum persist, we expect to find supports at RM0.550 (R1) and RM0.590 (R2).
• Conversely, support levels can be found at RM0.485 (S1) and RM0.420 (S2).

Source: Kenanga Research - 29 Nov 2019