TOPGLOV (Not Rated). Yesterday, TOPGLOV surged 34.0 sen (+6.27%) to settle at RM5.76 on the back of strong trading volume. The share price rebounded from its support trend line after undergone a strong sell-down recently due to the strengthening of the Ringgit. Key indicators such as Stochastic and RSI are also reversing strongly from their respective oversold territory to imply the strong buying interest, reinforcing the rebound play. From here, we expect the share price to ride on the bullish rally towards RM6.60 (R1) before retesting its previous high level of RM7.00 (R2). Immediate support is expected at RM5.50 (S1) and RM5.10 (S2).

JTIASA (Not Rated). JTIASA has been consolidating for the past one month ever since it reached its high level of RM1.81, neutralising its deep overbought situation. Yesterday, the share price staged a rebound play to gain 6.0 sen (4.14%) to close at RM1.51 albeit on considerably lower trading volume. RSI and Stochastic have also started to trend upwards, with the latter emerging from the oversold levels. The improved buying interest could mean that investors are taking advantage of the oversold situation to accumulate on the stock. Thus, should follow through buying interest persist, we reckon that the share price could look to retest its immediate resistance level of RM1.65 (R1) and possibly its previous high level of RM1.81 (R2) next. Immediate support level is seen at RM1.47 (S1) and RM1.30 (S2). 

Source: Kenanga Research - 3 Feb 2016