YINSON (Not Rated). Yesterday, YINSON’s share price rose by 15.0 sen (4.1%) to close at RM3.80. More notably, yesterday’s move may have potentially signalled a breakout from its 3-month long sideways movement, indicating a continuation of its prior uptrend which started since last year in September. Likewise, bullish upticks from key indicators, such as the MACD and RSI could also be suggestive of a move higher. From here, we see overhead resistances at RM3.89 (R1) and RM4.02 (R2). Conversely, key support levels can be identified at psychological levels of RM3.60 (S1) and RM3.50 (S2).

SCOMNET (Not Rated). SCOMNET rose an impressive 4.5 sen yesterday (17.6%), closing at RM0.300. This was accompanied by exceptional volume, with 72.7m share exchanging hands – more than 7-fold its 20-day average. Yesterday’s move marked the third continuous breakout, with key SMAs also just turning into a “golden-cross” state. Likewise, the surge in its MACD line could also be suggestive of increased momentum. From here, we expect the share to meet some resistance at RM0.325 (R1), and RM0.350 (R2). Conversely, supports are located at RM0.285 (S1) and RM0.270 (S2).

Source: Kenanga Research - 20 Oct 2017