Kenanga Research & Investment
Daily technical highlights – (SCIB, KOTRA)
SCIB (Not Rated)
• Yesterday, SCIB rose 8.0 sen (+4.47%) to close at RM1.87.
• Chart-wise, the stock has been on an uptrend since early-January.
• Yesterday candlestick closed higher with a bullish candlestick after testing its 20-Day SMA. Coupled with a potential MACD crossover and an uptick in RSI, we believe more upside can be seen.
• From here, overhead resistance can be found at RM2.00 (R1) and RM2.10 (R2) next.
• Conversely, key support levels are seen at RM1.80 (S1) and RM1.60 (S2)
KOTRA (Not Rated)
• KOTRA went up by 2.0 sen (+1.09%) to close at RM1.86 yesterday.
• The stock has broken through all its key-SMA in mid-December.
• Yesterday candlestick gapped up backed by huge trading volume. Given that its Stochastic appears oversold, we believe the stock could be headed for a rebound.• Should buying momentum persist we expect the stock to test its resistance at RM1.95 (R1) and RM2.00 (R2).
• Conversely, support levels can be found at RM1.75 (S1) and RM1.65 (S2).
Source: Kenanga Research - 26 Dec 2019
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
