TNLOGIS (Not Rated). TNLOGIS rose 4.0 sen (2.35%) to stage a breakout from its resistance-turned-support level of RM1.72 (S1) yesterday, closing at RM1.74. The underlying outlook is encouraging as the stock is currently trading above all its key moving averages. The technical breach above the RM1.72 level could allow the stock to gear higher up towards RM1.83 (R1) and possibly RM1.90 (R2). However, given that the stock is considered overbought as shown by its RSI and Stochastic, interested investors could look to accumulate on any share price weakness. Support levels cushion downside at RM1.70/1.72 (S1) initially, and followed by RM1.60 (S2).

PRESBHD (Not Rated). Yesterday, PRESBHD rose to the highest level since June, with a 14 sen (+6.2%) surge to RM2.39. Earlier in the year, PRESBHD commenced a downtrend which saw its share price retreat form a high of RM3.27 to as low as RM1.69. The share price has since bottomed out and is now showing signs of a healthy recovery. Overall, PRESBHD’s short-medium term trend is positive with the share price above all 3 key SMAs (20-, 50- and 100-day). The MACD has also been hovering firmly above the Zero-line these past 3 months and yesterday’s consolidation zone (RM2.15-RM2.30) break-out signals a continuation of its short-medium term uptrend. From here, expect bias to be on the upside with overhead resistances located at RM2.46 (R1) and RM2.67 (R2). Immediate support is RM2.30 (S1), which is a resistance-turned-support level, while RM2.15 (S2) is a stronger support further down.

Source: Kenanga Research - 2 Nov 2016