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M+ Wiz: Highlights

Did you capture MYCRON & HLT today?

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Have you ever wondered, why some of the alerts are highlighted in yellow while some are highlighted in blue? Both MYCRON and HLT are triggered during the first 30-minute of the morning session, and both are highlighted in blue. 

When the alerts are highlighted in blue, it means the particular stock is one of our favorites and momentum picks for the day. These are the counters that definitely worth your attention and spend a minute or two to look through it. For example, MYCRON is one of our momentum picks for the day

MYCRON (5087)

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MYCRON is triggered this morning under the Daily Rules: Resistance Breakout with High Volume, and 30-Min Rules: [Trend] Pullback Rebound. It is one of our pick for momentum stocks today as we identified the counter formed bullish engulfing with an increased volume. 

The Mycron Group is in Industrial Products & Services sector, principally engaged in mid-stream steel cold rolled coil manufacturing and steel tube manufacturing business.

HLT (0188)

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As of HLT, it is triggered this morning on 30-Min Rules: [Trend] Buyers’ Intact. This rule captures upward trending stocks that poised to go higher and continue its rally. When HLT rebounded and broke above its previous day high with increased volume, it met the rules condition and triggered. 

HLT Global Berhad is in Industrial Products & Services, principally engaged in the design, fabrication, installation, testing and commissioning of glove-dipping lines.

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The daily chart of HLT illustrates the price is going on a strong uptrend, in accordance with the increased demand of glove amid the Covid-19 pandemic.

On the other hand, the yellow highlighted counters are those counters added into your Favorite List. This helps you to be alerted when your preferred and potential counters are triggered on our strategies while monitoring alerts on other counters.

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As mentioned during our Facebook Live session on 20th April 2020, REDTONE (0032) is one of the stocks that we are monitoring closely. It has broken above the consolidation resistance while the price is staying above 20-days Moving Average with MACD is above the centerline.

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AME Elite Consortium Bhd – 2nd Dec 20

The proposed AME REIT would also provide stable and recurring income to investors, with at least 90.0% of its income to be distributed as dividends to unitholders. We note that slightly more than half of the current tenants of the industrial properties has more than 5 years of lease under their agreements. Additionally, AME REIT is expected to benefit from lower tax rate compared to prevailing corporate tax rate at an average of 23.4% recorded over the past 4 years.

technical focus

Technical Focus – 2nd Dec 20

Established historical track record since inception in 1975 with strong brand presence in the Malaysia household market. Demand will be relatively healthy, owing to the rising awareness of personal hygiene following the Covid-19 pandemic. Disposal of loss-making toilet rolls and tissue manufacturing subsidiary; NTMP Paper Mill (Bentong) Sdn Bhd allow the group to streamline and focus on the existing core businesses. Technically, price has experienced a flag-formation breakout above RM0.73, targeting the next resistances at RM0.795-0.815 with long term target at RM0.90.

market pulse

Swift recovery

Expectedly, the FBM KLCI performed a swift recovery as the key index recouped most of its previous session losses to re-claim the 1,600 psychological level. We reckon some stability will ensue with further upsides are in the cards as investors continue to focus on the economic recovery progress. Meanwhile, we believe that the lower liners will continue to enjoy their upward momentum as liquidity remains well on the equities market with investors capitalising on the positive market sentiment.

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Tempered by MSCI portfolio re-balancing

The FBM KLCI started off the week on a dour note alongside with the weakness across regional peers on the increasing geopolitical tension between US and China. Still, the FBM KLCI recorded 95.82 pts on gain (+6.5% MoM) during November 2020. Although we see renewed volatility unfolding, we reckon that bargain hunting activities may take precedence after the sharp fall yesterday. On the other hand, we think that the lower liners are poised for further upsides, driven by the improved trading liquidity which may extend the rotational play.

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