• SALUTE gained 5.0 sen (+9.8%) to end at RM 0.560 yesterday.
• Chart-wise, the stock has crossed above 50-days SMA yesterday, backed by higher-than-average trading volume.
• Coupled with bullish signal from MACD and uptick in momentum indicator, we believe the stock could move higher.
• On the way up, resistance levels are identified at RM0.660 (R1) and RM0.800 (R2).
• Conversely, supports can be found at RM0.400 (S1) and RM0.270 (S2).
• BINACOM rose 4.0 sen (+10.81%) to close at RM0.410 yesterday.
• Chart-wise, the stock has broken above all the key SMAs yesterday, supported by higher-than-average trading volume.
• Coupled with bullish signal from MACD indicator, we believe the stock could move higher.
• From here on, overhead resistance can be seen at RM0.450 (R1) and RM0.510 (R2).
• Conversely, downside supports can be identified at RM0.320 (S1) and RM0.290 (S2).
Source: Kenanga Research - 23 Apr 2020
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Created by kiasutrader | Aug 26, 2024