· INARI (Take profit @ RM4.08). Recall that we had previously issued a Trading Buy call on INARI (4-Nov), after the share price staged a technical breakout from its ‘Flag’ chart pattern with strong trading volume. Since then, the share price has trended according to our expectations as it surged to an intraday high of RM4.09 yesterday (surpassing our TP of RM4.08). Its technical indicators such as Stochastic and RSI have also turned overbought. As such, we are taking this opportunity to take profit on the stock while we will re-look the counter once its technical picture turns compelling again (c. RM4.00 level).

· HOMERIZ (Not-Rated). HOMERIZ has recently staged a reversal from its support level of RM1.05 (S1) as well as from its -2SD regression level. While key indicators are supportive of a potential reversal play as showcased by upticks in both RSI and Stochastic, the lack of trading volume led us to press on the brakes a little. We reckon that follow-through buying is required to take out the RM1.15 (R1) level soon with strong conviction for the share price to retest its next resistance level of RM1.20 (R2) next. A breakout from the RM1.20 (R2) level would potentially lead the stock to trend towards its +2SD regression level of RM1.30 (R3).

Source: Kenanga Research - 18 Nov 2015