Kenanga Research & Investment

Daily technical highlights – (SOLARVEST, YTL)

kiasutrader
Publish date: Fri, 22 May 2020, 09:50 AM

SOLARVEST (Not Rated)


SOLARVEST rose 6.0 sen (+5.36%) to close at RM1.18 yesterday.
Chart-wise, the stock continued to close higher after breaking above the gap that appeared in early March 2020, backed by
higher-than-average trading volume.

Coupled bullish signal from MACD indicator, we believe the stock could move higher.
From here on, overhead resistance can be found at RM1.41 (R1) and RM1.61 (R2).
Conversely, downside supports can be identified at RM1.05 (S1) and RM0.970 (S2).


YTL (Not Rated)


YTL gained 7.0 sen (+8.97%) to close at RM0.850 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, we believe the stock could trend higher.
Should the bullish momentum persist, resistance levels are identified at RM0.890 (R1) and RM0.990 (R2).
Conversely, support levels are identified at RM0.725 (S1) and RM0.650 (S2).
 

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