RESINTC (Not Rated). RESINTC saw its share price climbing 3.5 sen (6.2%) to a closing high of RM0.60. Trading volume surged to 3.0m shares capping four consecutive days of declines. Historically a quiet stock, the share price broke out of its sideways trend last month (RM0.41), and rallied to as high as RM0.625 within a month before staging a healthy pullback. Nevertheless, the share price now appears poised for an uptrend continuation as a result of yesterday’s bullish move. Additionally, the key momentum indicators such as the RSI and Stochastic have both hooked upwards into the bullish territory. Hence, we expect follow-through momentum to continue, with a swift retest of its RM0.625 (R1) and possibly RM0.68 (R2) next. Downside support levels are RM0.55 where traders may buy-on-weakness, although a break below RM0.53 (S2) would be a huge negative.

DATAPRP (Not Rated). DATAPRP’s share price staged a sustained climb during yesterday’s trade before ending the day up 5.5 sen (13.1%) at RM0.475. Chart-wise, the share price formed a bullish “Marubozu” candlestick which indicates that the bulls were dominant throughout the day. In fact, the strong move has resulted in a breakout above a “Falling Wedge” pattern. With the momentum indicators, mostly in a bullish state, we expect the share price to be positively biased from here. Immediate resistance levels to target are RM0.53 (R1) and RM0.575 (R2) while underlying support levels are RM0.39 (S1) and RM0.28 (S2).

Source: Kenanga Research - 4 Jul 2017