MYEG (Not Rated)

• MYEG gained 10.5 sen (+11.6%) to end at RM1.01.
• The share appears to be staging a potential rally as shown by the higher than average trading volume over the past three trading days. MYEG is also now above the 20-day SMA and momentum indicators had turned bullish.
• Should the positive momentum sustain, it could be heading towards RM1.20 (R1) where a break above it will see the next resistance at RM1.55 (R2).
• If the bullish move is short lived, supports can be identified at RM0.790 (S1) and RM0.650 (S2).

PENTA (Not Rated)

• PENTA gained 10.0 sen (4.02%) yesterday to close at RM2.59 on the back of above-average trading volume.
• Chart-wise, PENTA has rebounded and reversed into an uptrend since April 2018. Both the 20-day and the 50-day SMAs are above the 100-day SMA which indicates that the uptrend is intact.
• MACD line is above the signal line and other key momentum indicators continue to show meaningful upticks.
• We expect resistances at RM2.74 (R1) and RM3.09 (R2). Conversely, support levels can be identified at RM2.42 (S1) and RM2.19 (S2).

Source: Kenanga Research - 17 Jul 2018