COCOLND (Not Rated). COCOLND has been trading sideways for over the past two months, after staging a rebound play from its multi month low level of RM1.82. The stock has rekindled strong investors interest again to surge 9.0 sen (4.57%) yesterday, closing above all its key moving averages at RM2.06. MACD histogram is also lending a hand on the bullish bias outlook with its bullish convergence away from its zero-line. From here, COCOLND could set sights at RM2.12 (R1) and possibly RM2.20 (R2). Support is capped at RM1.97 (S1) followed by RM1.92 (S2).

TECGUAN (Not Rated). TECGUAN rose 11.0 sen (5.73%) to stage a break out from its ‘Wedge’ chart pattern with strong trading volume yesterday, closing at RM2.03. The underlying outlook is looking positive, as the stock is well supported by all its up-trending moving averages. Besides, the uptick in RSI and Stochastic indicator are reflecting the surge in buying momentum. If follow-through buying persist, TECGUAN could look to gear higher up towards RM2.10 (R1) and possibly RM2.21 (R2) further. Key supports are located at RM1.92 (S1) and RM1.72 (S2).

Source: Kenanga Research - 26 Oct 2016