BAHVEST (Not Rated)

• BAHVEST climbed 5.5sen (6.40%) to end at RM0.915 on higher than average trading volume.
• Yesterday’s move is seen as a crucial breakout from the RM0.870 resistance level, which it had previously challenged without avail.
• MACD line had just crossed the Signal line, indicating a bullish shift in momentum.
• We think that the short-term consolidation phase is over and that positive momentum is likely to lead the share towards RM0.960 (R1), with further gains at RM1.05 (R2).
• Failure to break past R1 will see it being supported at RM0.870 (S1) and RM0.820 (S2), where investors could buy in.

WASEONG (Not Rated)

• WASEONG gained 12.0 sen (8.00%) to close at RM1.62.
• With the recent days’ bullish move, coupled with strong volume and MACD upwards hooks, as well as healthy up-trends seen on RSI and Stochastic, the share price appears poised for further gains in the near-term.
• Key resistance level to look out for is RM1.68 (R1). Once taken out, the share price is on a clear path for the next leg higher towards resistance level RM1.75 (R2).
• Immediate downside support can be found at resistance-turned-support RM1.47 (S1) and RM1.40 (S2) next.

Source: Kenanga Research - 23 Feb 2018