· MISC (NR). To recap, we featured MISC on 1 July 2015, when the share price was approaching the key support level of RM7.55 (S1). For the past one month, the share price rallied towards the resistance level of RM8.33 (R2), but did not manage to break through. Currently, MISC is hovering above RM7.55 (S1) again. Stochastic is reversing from oversold territory while RSI is turning positive, suggesting buying interest is picking up. Should the buying interest remain, we reckon the share price could retest RM8.33 (R2) in the short-term. Thus, we advocate investors to monitor for a rebound play at the S1 level, which could provide a good opportunity for traders to re-enter MISC.

· WPRTS (NR). Yesterday, WPRTS hiked 20.0 sen or 5.26% to close at RM4.02 after six consecutive days of sell-down. Currently, the share price is still trading below all its key SMAs. Both RSI and Stochastic indicators are heading up especially the Stochastic indicator which is reversing from its oversold territory. However, the technical rebound signals are not convincing enough as the trading volume remains tepid coupled with MACD trading sideways. As such, we advocate investors to keep an eye on this stock and buy on weakness should the buying momentum picks up. Immediate support level of RM3.97 (S1) could be a good entry point.

Source: Kenanga Research - 30 Jul 2015