CCMDBIO (Not Rated)

• CCMDBIO closed 3.0 sen higher (0.9%) at RM3.22 yesterday.
• Intraday-chart wise, the stock gapped down in the early trade, reaching a low of RM2.91 (-8.8%) before reversing its losses. Therefore, forming a long bottom-tail white candlestick which suggests bull is still in control.
• Overall, the underlying uptrend of the share remains intact, where key SMAs and momentum indicators continue strong positive displays.
• Foresee follow-through buying towards resistances at RM3.28 (R1) and RM3.43 (R2) further up.
• Conversely, crucial support is identified at RM3.03 (S1), where a break below is deemed negative, and could trigger a capitulation towards RM2.78 (S2).

INARI (Not Rated)

• Despite the overall bearish market sentiment yesterday, INARI managed to recover its losses made earlier in the trading session to end 2.0 sen (0.91%) higher at RM2.23.
• The share had been moving upwards since the start of May 2018, possibly indicating that it has truly bottomed-out from the downtrend that happened since Janunary 2018.
• Overall technical picture is positive as key indicators are bullish.
• Expect the share to continue moving higher towards RM2.32 (R1) and even RM2.55 (R2).
• Investors looking to buy on dips can enter near support at RM2.06 (S1) while a break below RM1.95 (S2) will be highly negative.

Source: Kenanga Research - 25 May 2018