KERJAYA (Not Rated). KERJAYA surged 7.0 sen (3.59%) to stage a breakout, away from its psychological resistance of RM2.00 (S1) to close at RM2.02. The underlying outlook is looking positive supported by the bullish momentum indicators. MACD histogram is looking to stage a bullish crossover, while uptick in RSI and Stochastic are also suggesting that buying momentum is piling up. From here, we reckon that followthrough buying interest could lead the share price to climb further up towards RM2.08 (R1, FR123.6%) and possibly RM2.13 (R2, FR138.2%) next. Meanwhile, downside support is located at RM2.00 (S1) and RM1.91 (S2), respectively.

VSOLAR (Not Rated). VSOLAR’s share price surged 1.5 sen (17.6%) to RM0.10 yesterday. Trading volume rose to a 10-month high with 42.6m shares changing hands. For the past year, the trading pattern was rather uninteresting, hovering sideways between RM0.065-RM0.09. Nevertheless, VSOLAR broke out in March, and had since been holding above the 100-day SMA. Buying activity appears to have returned with yesterday’s sudden price surge and MACD-Signal line positive crossover. The share price is now in the midst of testing the key RM0.10 (March’s high). Should this key resistance level be taken out next, we reckon that the share price would then commence a climb to RM0.14 (R2) further up. Downside support is pegged at RM0.085 (S1), and RM0.065 (S2) further below. 

Source: Kenanga Research - 25 May 2016