· UZMA (NR). Recall, we took profit on UZMA at RM2.55 on 26-Jun-15. Since then, share price has been consolidating downwards to close at RM2.38. Chart-wise, it formed a “Dragonfly Doji followed by Doji” candlestick formation, suggesting a potential reversal of its direction should a white candlestick is formed in today trade. Key indicators wise, while MACD is trading below its positive Signal line, both Stochastic Indicator and RSI are trending upwards, indicating mixed readings. Should buying interest pick up, we believe the share price would be able to retest its immediate resistance level of RM2.55 (R1).

· Bottom fishing opportunity? Both ALAM (NR) and DAYANG (NR) are trading close to the key support level of RM0.515 and RM2.16, respectively, which could be a good entry price for interested investors. Indicator-wise, Stochastics and RSI are hovering around oversold territory, implying the potential rebound. As such, we advocate investors to lock in the position now with a short-term target of RM0.60 (ALAM) and RM2.60 (DAYANG), respectively.

Source: Kenanga Research - 8 Jul 2015