BIOHLDG (Not Rated). BIOHLDG has been trading range bound within RM0.345-RM0.385 for over the past few months after undergoing a heavy correction from its high level of RM0.45. Yesterday, BIOHLDG rose 1.5 sen (3.95%) to close at RM0.395. The share price has staged a breakout away from its resistance-turned-support level of RM0.385 on the back of high trading volume. Technically speaking, the gradual uptrend seen in the MACD histogram (above its zero-line) and RSI are suggesting plausible positive-bias outlook. Any follow-through buying interest on the stock could possibly rally the share price further towards RM0.41 (R1) and RM0.45 (R2) next in the near-term. Downside support is limited at RM0.385 (S1) followed by RM0.36 (S2).

ANNJOO (Not Rated). Since reaching a YTD high level of RM1.26 back in mid-April, ANNJOO has undergone a correction as it retraced towards RM1.00 level. ANNJOO seems to be finding some buying support over the past two days and rose 5.0 sen (4.95%) to RM1.06 yesterday to break out from its downtrend resistance line. MACD histogram is currently flattening out above its support line to suggest that downside could be limited from here. Meanwhile, uptick in RSI and Stochastic are reflecting the buying interest on the stock. If the share price manage to garner follow-through buying interest, it could trend towards RM1.13 (R1) and possibly RM1.26 (R2) next. Meanwhile, failure to attract another strong volume gain in the next few days could likely result in the share price consolidating towards RM1.00 (S1), where the next level of support is noted at RM0.94 (S2). 

Source: Kenanga Research - 19 May 2016