XINHWA (Not Rated). XINHWA had shown some rekindled buying interest, after inching up 1.0 sen (0.85%) to close above its resistanceturned- support level of RM1.17 (S1) on increased trading volume. With the MACD histogram staging a bullish crossover above its signal line, the underlying outlook is encouraging given that the stock is setting a higher high above all its up trending moving averages. From here, we reckon that follow-through buying could lead the share price towards RM1.20 (R1) and possibly the completion of its ‘rounding bottom’ chart pattern at RM1.32 (R2) in the near-to-mid term. Support levels are envisaged at RM1.17 (S1) followed by RM1.07 (S2).

AT (Not Rated). AT rose to the highest price March on high trading volume of 59.0m shares. At the closing bell, the share price finished at RM0.075, up by 1.0 sen (15.4%) for the day. Chart-wise, the share price has been on a downtrend since early last year. However, the share price has been seeing strong buying interest over the past month, resulting in a downtrend breakout recently. At the same time, the key momentum indicators have also been trending higher over the past 6 months, potentially signalling that the share price may have bottomed out. From here, the share price is biased to the upside, with near-term resistances to look out for at RM0.09 (R1) and RM0.10 (R2) further up. Downside support levels are RM0.06 (S1) and RM0.045 (S2) below.

Source: Kenanga Research - 6 Oct 2016