ANNJOO (Not Rated). Yesterday, ANNJOO attracted buying interest to climb 6.5 sen (10.2%) to close above all its key SMAs to RM0.70 on the back of strong trading volume. The rise in share price came after a multi-month consolidation phase. Indicator-wise, MACD has rebounded from its uptrend support line with both RSI and Stochastic hooking up strongly, reflecting the strong buying momentum. With the bullish outlook painted by the strong move yesterday, ANNJOO could look to trend towards RM0.75 (R1) and possibly RM0.80 (R2) next. Meanwhile, immediate supports are located at RM0.68 (S1) followed RM0.62 (S2).

KEYASIC (Not Rated). KEYASIC rallied 2.5 sen (13.9%) yesterday to close at RM0.205 on strong trading volume. The share price has been trading within a well-defined uptrend channel which saw the share price climbing from a low of RM0.105 on the 15th Dec 2015 to an intraday high of RM0.215 on the 16th Feb 2016. Following a brief retreat to the channel support last week, the share price now appears poised for further gains in the coming days. The key indicators such as the MACD and Stochastic are also supportive of a move to higher levels. Hence, we expect the share price to retest the RM0.215 (R1) resistance, before climbing to the channel resistance at RM0.24 (R2). Immediate support levels are RM0.18 (S1) and RM0.165 (S2). 

Source: Kenanga Research - 9 Mar 2016