PMETAL (Not Rated)

• PMETAL climbed 21.0sen (3.83%) to close at RM5.70.
• The higher than average trading volume and the white candlestick formed indicates strong buying interest.
• Overall technical outlook remains bullish as the uptrend is firmly intact and share continues to lead key SMA upwards.
• Expect PMETAL to head towards its immediate resistance level at RM5.83 (R1) with further advancement towards RM6.84 (R2). Conversely, support levels can be identified at RM4.82 (S1) and RM4.20 (S2).

HARTA (Not Rated)

• HARTA gained 66 sen (6.1%) yesterday, ending at RM11.50 on strong volumes of more than double its daily average. This comes after the company had announced its 9M18 results a day prior, registering PATAMI growth of 67% YoY.
• Yesterday’s candlestick suggests some buying support at around its 20-day SMA after a gap-down the day before amidst poor market breadth.
• Overall technical picture remains positively-biased given the “Golden Crossover” state of key SMAs, coupled with its intact uptrend. However, do expect some short-to-midterm consolidation.
• Watch out for immediate resistances at RM12.18 (R1) and RM13.91 (R2), with supports at RM10.45 (S1) and RM9.38 (S2).

Source: Kenanga Research - 8 Feb 2018