SCIENTX (Not Rated). Recall our previous feature (13/1/16) on property developer-cum-packaging company SCIENTX when the share price broke its previous high of RM9.94 to signal a continuation of a prior uptrend on the back of bullish momentum coming from its strong earnings report. The share price has since performed according to our expectation, as it gradually climbed towards a high of RM11.28 yesterday (which exceeded our target objective of RM11.16), scoring a gain of 10.8% (RM11.28)/ 9.6% (RM11.16) within a one-week period. We advocate investors who had entered the stock earlier to lock in profit for now, with a view to relook the stock once the share price neutralise its overbought situation.

VITROX (Not Rated). Despite the weak performance by the broader market, VITROX rose 5.0 sen (+1.5%) to close at RM3.35. The stock has been trading within a medium-term uptrend channel, and appears to have recently bottomed out at RM3.13. Indicator-wise, the 14-day Stochastic suggests that bullish momentum is building up and this has come in tandem with rising share price and trading volume over the past few days. From here, we expect the bias to be on the upside with an immediate target of RM3.60 (R1) where the channel resistance is. Further resistance is located at RM3.80 (R2) while downside support levels are RM 3.13 (S1) and RM3.00 (S2).

Source: Kenanga Research - 21 Jan 2016