· PARKSON (Not Rated). PARKSON’s share price rose for three days consecutively to settle at RM1.12. This upward move reversed the 6- month downtrend, backed by sharp rise in trading volume. Note that key indicators such as the MACD is trading above its Signal line while RSI made a strong uptick, suggesting strong buying interest in the stock. Moreover, the share price managed to settle above the 20-day SMA. Hence, should there be further buying interest, we reckon that the share price could push towards RM1.17 (R1) in the near-term, while an immediate support level is seen at RM0.99 (S1).

· ECONBHD (Take Profit @ RM0.94). To recap, we issued a ‘Trading Buy’ call on ECONBHD with Target Price of RM0.94 on 21 Aug 2015. The share price closed at RM0.94 yesterday with above-average daily trading volume. The Stochastic indicator is in the overbought region while RSI indicator is also approaching overbought territory, suggesting upside could be limited from here. Thus, we are now calling for ‘Take Profit’ as our target price has been achieved, while registering a lucrative gain of 10.59% in a month time. However, we might revisit the stock once the technical picture becomes compelling again.

Source: Kenanga Research - 30 Sep 2015