MUDA (Not Rated). MUDA has been on an uptrend trading pattern since October 2015. Since reaching a high of RM2.51 earlier this year, the share price underwent a consolidation phase. Yesterday, the share price rebounded strongly from its support trend line to surge 18.0 sen (+7.59%) to close at RM2.55. The rebound play is also supported by an uptick in RSI and Stochastic, as follow-through buying interest compensates for the lack of trading volume and could possibly rally the share price further towards RM2.75 (R1) and possibly RM2.82 (R2) in the near-term. Immediate support level is set at RM2.37 (S1), followed by RM2.20 (S2).

TEKSENG (Not Rated). TEKSENG has been trending up for the past five months, reaching a high level of RM1.25 in 11-Jan 2015. Since then, the share price has consolidated to neutralise its overbought situation on the back of declining trading volume. However, the share price has once again attracted investors interest to gain 9.0 sen (+8.5%) to close at RM1.15 on the back of strong trading volume. Stochastic indicator has also emerged strongly from its oversold territory to reinforce the rebound play, whereas the uptick in RSI is indicating the strengthening buying momentum. From here, we view that the share price could look to retest its immediate resistance level of RM1.25 (R1) and possibly RM1.40 (R2) next. Immediate support level is noted at RM1.00 (S1) and RM0.90 (S2).

Source: Kenanga Research - 4 Feb 2016