JAKS (Not Rated)
- JAKS rose 9.5 sen (+12.03%) to close at RM0.885 yesterday.
- Yesterday’s bullish candlestick has prompted the stock to break above its 20-day SMA, on the back of stronger-than-average trading volumes.
- Coupled with a bullish crossover signal from MACD indicator, we believe there may be more room for upside.
- From here on, overhead resistance can be seen at RM1.00 (R1) and RM1.15 (R2).
- Conversely, downside supports can be identified at RM0.730 (S1) and RM0.660 (S2).
CARIMIN (Not Rated)
- CARIMIN gained 16.0 sen (+30.48%) to finish at RM0.685 yesterday.
- Chart-wise, the stock has begun trending upwards since mid-March, which see it closing above its 20-day SMA.
- Coupled with bullish signal from MACD indicator and upticks from momentum indicators, the stock may be poised for more upside.
- Should bullish momentum persist, resistance level is at RM0.890 (S1) and RM1.00 (S2).
- Conversely, support levels can be identified at RM0.470 (R1) and RM0.335 (R2).
Source: Kenanga Research - 3 Apr 2020
