KRONO lost 1.5 sen (-3.53%) to close at RM0.410 yesterday.
Chart-wise, the stock has been trading below all the key SMAs, accompanied by higher-than-average trading volume.
Coupled with bearish signal from MACD and uninspiring momentum indicator, we believe the stock price could drop further.
From here on, downside supports can be identified at RM0.310 (S1) and RM0.220 (S2)
Conversely, overhead resistance can be seen at RM0.510 (R1) and RM0.600 (R2).
FOCUS (Not Rated)
FOCUS gained 1.0 sen (+1.53%) to close at RM0.665 yesterday.
Chart-wise, the stock has rebounded upon touch the support level at the 100-days SMA level, backed by higher-thanaverage trading volume.
Yesterday, the stock has been testing the resistance level at 20 and 50-days SMAs, however, breakout signal such as breaking above all SMAs is required to confirm a strong rebound.
Should buying momentum persist, overhead resistance is at RM0.700 (R1) and RM0.800 (R2).
Conversely, support levels can be identified at RM0.620 (S1) and RM0.570 (S2).
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