· YINSON (TB, TP: RM3.26) broke out from its Lower Bollinger Band to close at RM3.09 on an above-than-average trading volume. Investors demonstrated strong buying interest on the stock for its position as a FPSO player to provide longer and clearer income stream among the peers. Technically, Stochastic indicator has performed a positive crossover and yet still in the oversold region, showing that the rebound has just started. Thus, we are issuing a “Trading Buy” with a near-term TP of RM3.26. Should there is a volume breakout from this level, the share price could rally towards its next resistance of RM3.40 in the mid-term.

· SKPETRO (NR). Chart-wise, SKPTERO appears to have consolidated and formed a “Wedge” chart pattern. Trading near its support level of RM2.40 (S1), key momentum indicators (Stochastics and RSI) are showing a slight uptick suggesting a potential rebound play on the cards. We are of the view that the current price level is a good entry point for investors to accumulate on this counter, while conservative traders should look out for a technical breakout from its “Wedge” chart pattern with high trading volume in the short to medium term. Should there be a technical breakout, we reckon that the share price could rally towards its upper Bollinger band level of RM2.78 R2).

Source: Kenanga Research - 23 Jun 2015