· WCT (Trading Buy, TP@RM1.50). In tandem with high trading volume, WCT rebounded strongly from its -2SD regression level to break out from its 1-month’s down trend resistance yesterday. The technical outlook is promising, given that both RSI and Stochastic are showing strong upticks to suggest swelling buying momentum, with the latter reversing strongly from its oversold region to reinforce a rebound play potential. Should follow-through buying interest persist, we view that the share price could retest its previous 1.5 month’s high level of RM1.50 (R2) in the near-term.

· YTL (Not-Rated). YTL is looking to stage a rebound play from its immediate support level of RM1.45 (S1) on the back of high trading volume. Strong buying momentum was seen on its recent trade, showcased by the bullish upticks in RSI and Stochastic. In this case, we reckon that the share price need to swiftly recapture the 200-day SMA level of RM1.54 in the near-term before it could retest its 6-month trend channel resistance level of RM1.62 next. 

Source: Kenanga Research - 17 Nov 2015