YOCB (Not Rated). YOCB’s shares rose 5.0 sen (4.1%) yesterday to finish at RM1.28. Historically a quiet stock, the company saw its trading volume increasing to 558k shares, triple the daily average of 190k shares. Chart-wise, YOCB’s trend is positive in the short term but sideways over the medium to longer term. That said, the MACD has been on a rising trend since the start of the year, with yesterday’s Signal-line crossover indicating that a more lasting uptrend may be in the making. Next up, we expect a retest of last month’s high of RM1.30 (R1). Should this resistance level be taken out next, we would then expect follow-through buying towards the next resistance at RM1.38 (R2) further up. Any weakness back to the RM1.25 (S1) support may be viewed as a buying opportunity, although a break below RM1.17 (S2) would be highly negative.

KYM (Not Rated). Yesterday, KYM gained 6.5 sen (11.3%) to close at RM0.64, with an exceptionally high volume of 2.6m shares being traded, more than 10-fold its daily average volume of 0.24m shares. We believe yesterday’s move marks as a decisive breakout from its previous resistance of RM0.59. Likewise, the 20-day and 50-day SMAs presented a “Golden Crossover” earlier this month, with the MACD also displaying an upward crossover above its Signal line. From here, we expect a move towards a resistance at its previous high of RM0.68 (R1), beyond which the next resistance is RM0.77 (R2). Immediate support-turned-resistance can be found at RM0.59 (S1), with another support at RM0.53 (S2) lower down.

Source: Kenanga Research - 16 Jun 2017