KRONO (Not Rated). KRONO’s share price has been registering new highs since April 2017. Yesterday, the share price spiked a good 8.5 sen (9.1%) to close at yet another all-time high of RM1.02. More importantly, it broke through the previous resistance of RM0.95 which had been tested a couple of times. We think that the breakout yesterday signalled a continuation of its strong on-going uptrend which was coupled with good volume of 23.4m shares traded, higher than the 20-day average of 19.8m shares. There was an uptick on the MACD indicator, and is well above the Signal-line which favour the upside with strong momentum expected in the immediate term. The share price is leading key SMAs in the upward movement and we expect this to continue for the short-to-medium term. Resistance levels to target are RM1.19 (R1) and RM1.32 (R2) further up while immediate support level can be found at RM0.80 (S1) with a further support of RM0.64 (S2).

PTRANS (Maintain Trading Buy, TP: RM0.335 , SL: RM0.255 ). PTRANS’ share price gained 1.5 sen (4.9%) yesterday to finish at all-time high of RM0.32 since its IPO in Oct, 2016. Yesterday’s move broke out of the previous resistance which it tested twelve times in the past three months of side-ways consolidation. On top of that, the movement was supported by increased volume of 23.8m shares, indicating strong conviction from participants. Upticks in most keyindicators signals sudden pick-up in momentum as MACD just crossed above both Signal and zero line mark. Overall, the technical picture still remains intact following yesterday’s bullish move. We maintain our open position with an unchanged technical target of RM0.335 and stop-loss at RM0.255. Resistances can be found at RM0.350 (R1) and possibly RM0.380 (R2) while downside support levels include the former resistance-turned-support at RM0.280 (S1) and RM0.250 (S2) below.

Source: Kenanga Research - 22 Aug 2017