Kenanga Research & Investment

Daily technical highlights – (OSK, YTLPOWR)

kiasutrader
Publish date: Fri, 20 Dec 2019, 09:41 AM

OSK (Not Rated)

  • OSK gained 3.0sen (+3.16%) to close at RM0.980 yesterday.
  • Chart-wise, the stock has broken above the key SMAs yesterday and tested the previous high at RM0.980 with a long bullish candlestick.
  • However, we would like to wait for more confirmation such as a breakout above the previous high to conclude a change in trend.
  • Should the stock continue to head north, key resistance levels are seen at RM1.00 (R1) and RM1.05 (R2).
  • Conversely, key support levels can be seen at RM0.930 (S1) and RM0.900 (S2).

YTLPOWR (Not Rated)

  • YTLPOWR gained 2.0sen (+2.82%) to end at RM0.730 yesterday.
  • Chart-wise, the stock has broken above all the key SMAs yesterday on heavy trading volume, hence signalling a change in trend.
  • Besides, a bullish signal from its MACD indicator further supports the bullish sentiment.
  • From here on, its key resistance levels can be found at RM0.780 (R1) and RM0.830 (R2).
  • Conversely, downside supports can be identified at RM0.700 (S1) and RM0.670 (S2).

Source: Kenanga Research - 20 Dec 2019

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