JHM (Trading Buy, TP: RM 1.65, SL: RM1.20). JHM rose to a fresh all-time high yesterday, after the share price rallied 10 sen (+8.0%) at RM1.35. Trading volume was double the 30-day moving average with 1.9m shares changing hands. Chart-wise, JHM is in a healthy uptrend with occurring at regular 1-month intervals. As a result, an uptrend channel has taken shape and JHM appears to be rebounding from the RM1.23 (S1) support. From here, we expect the share price to climb further towards the channel resistance at RM1.55 (R1) before encountering some profit taking activities. Further overhead resistance is located at RM1.68 (R2) while support can be found at the aforementioned RM1.23 (S1) level and RM1.15 (R2) further down.

MMSV (Not rated). MMSV gained 2.5 sen (3.8%) yesterday to close on an 11-month high of RM0.68. The bullish move saw the share breakout of its uptrend channel that was formed since mid-July. Coupled with yesterday’s high trading volume, the technical breakout signals a continuation of its prior uptrend. A MACD-Signal line crossover is also constructive of a move higher. Expect further upside from here, towards the next resistances at RM0.71 (R1) and RM0.765 (R2). Downside support is pegged to the bottom of the channel at RM0.62 (S1), with another resistance at RM0.49 (S2) further down.

Source: Kenanga Research - 11 Aug 2016