AWC (Not Rated)

• Yesterday, AWC gained 2.0 sen (+2.48%) to close at RM0.825 on the back of stronger than the 20-day average.
• The share has been trending upwards after it bottomed-out in June with MACD continuously in bullish convergence, possibly signal an uptrend continuation.
• Notably, momentum indicators appear in supportive for the next move higher, as displayed by a bullish MACD-crossover coupled with rising RSI to suggest a return of buying interest.
• Should buying momentum be sustained, expect the share to advance towards RM0.885 (R1) before trending higher towards RM0.950 (R2).
• Meanwhile, immediate downside support is identified at RM0.800 (S1) with the next support level found at RM0.735 (S2).

CJCEN (Not Rated)

• CJCEN gained 4.5 sen (+6.47%) to close at RM0.740 yesterday, backed by explosive trading volume with 2.6m share exchanging hands 10-fold its 20-day average.
• Yesterday’s move also marked a breakout from the prior key resistance level of RM0.700 which it tested multiple times previously potentially to signal a recovery.
• Should a follow-through buying continue, expect CJCEN to climb towards next resistance level of RM0.800 (R1), with a decisive takedown will see the share on a higher note towards RM0.920 (R2) further up.
• Conversely, support levels are seen at resistance-turned-support RM0.700 (S1) with the next support level identified at RM0.600 (S2).

Source: Kenanga Research - 21 Aug 2018