BAHVEST (Trading Buy, TP: RM1.62; SL: RM1.15)

• BAHVEST closed higher yesterday at RM1.31 (+2.0 sen or +1.56%).
• Notably, the display of ascending triangle breakout could be a signal of continuation of the prior bullish rally.
• Momentum indicators are showing uptick coupled with the stronger trading volume.
• From here, we see the potential for a swift move towards RM1.45 (R1) and the measurement objective of RM1.65 (R2) further up.
• Conversely, an interim support can be identified at RM1.25 (S1), whilst our stop loss level is placed at RM1.15, being three ticks below RM1.18 (S2).

KOSSAN (Not Rated)

• Yesterday, KOSSAN closed 30.0 sen (3.53%) lower at RM8.20 on the back of above-average volume.
• From the indicators, we observed that RSI was sharply rejected from an overbought level and the MACD line had just crossed over the signal line, implying a shift in sentiment. Thus, we believe that the sell down is not over yet and the retracement for KOSSAN would likely continue.
• From here, we expect KOSSAN to retest supports of RM8.10 (S1) and RM7.77 (S2). Conversely, resistances can be identified at RM8.63 (R1) and RM9.33 (R2).

Source: Kenanga Research - 10 Jul 2018