CENTURY (TB, TP: RM1.18) registered an all-time high of RM0.995 (+6.99%) yesterday. Chart-wise, the share price has broken above the strong resistance-turned-support level of RM0.965 (S1) and is well supported by all SMAs. The sudden surge in daily trading volume coupled with the uptick of the key momentum indicators such as RSI and Stochastic, are suggesting strong buying momentum. Moreover, the MACD indicator is undergoing positive Signal line cross over. With the positive momentum, we are issuing a Trading Buy call on CENTURY with TP of RM1.18, and a protective stop-loss of RM0.895 (R2). Do note that CENTURY is one of our Top Picks for 3Q15 Strategy.

JAKS (Take Profit @ RM0.910). Recall, we earlier issued a Trading Buy with a TP of RM0.865 on 10 July 2015. Since then, the share price has spiked up to settle at its 5-year high of RM0.910. Yesterday, it broke up from its immediate resistance level on the back of high trading volume. Key indicators such as the MACD are trading way above its positive signal line while RSI remains trending upwards. Although the Stochastic indicator remains in the overbought zone, it is heading south, indicating a possible reversal in share price. As such, we decided to lock in profit for now, which resulted in 21% gain on JAKS within two weeks. Nevertheless, we will revisit the stock again when the technical outlook turns compelling again.

WPRTS (NR). Yesterday, WPRST was marginally up 3.0 sen or 0.71% to close at RM4.24. Currently, the share price is hovering above the - 2SD regression line and supported by its 100-day SMA. Meanwhile, the increase in buying momentum is shown by the MACD indicator, which has reversed from its declining trend. However, readings from both RSI and Stochastic are relatively neutral. As such, we advocate investors to keep an eye on this stock. Immediate support level of RM4.13 (S1) could be a good entry point.

Source: Kenanga Research - 21 Jul 2015