Stock Picks of the Day: Dayang Enterprise, Karex

Dayang Enterprise

Dayang is eyeing to stage a bullish breakout, knocking on the MYR1.15 immediate resistance, according to RHB Research’s technical analysis report (October 25). Observe that the stock has been undergoing a sideways consolidation lately. Breaking past the resistance would indicate the bullish bias has emerged. In this case, the stock should climb higher towards MYR1.20, followed by MYR1.25. On the flip side, breaching below the MYR1.08 support will signal that the bears are back in control and a negative price action may happen.


This counter staged a bullish breakout on high volume last Friday, breaking past the MYR0.375 resistance. Observe that the stock has been charting “higher highs” with “higher lows” since climbing above the 21-day SMA line. Coupled with trading
volume increasing recently, the bullish momentum should propel the stock towards MYR0.40, followed by MYR0.42. On
the other hand, falling below the MYR0.355 support will nullify our expectation and resume the downward correction.

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