PARAMON (Not Rated)

• PARAMON climbed 3.0 sen (+1.46%) to end at RM2.08 yesterday.
• The surge in share price over the last few days were backed by high trading volume and is now retesting its all-time high of RM2.08.
• Chart-wise, the share is trending above key SMAs. However, we are cautious as the stochastic indicator is in the overbought zone, which may signal a potential reversal.
• Should it be able to break above RM2.08, expect next resistance levels at RM2.18 (R1) and RM2.25 (R2).
• Conversely, downside supports can be found at RM2.00 (S1) and RM1.93 (S2).

MYEG (Not Rated)

• MYEG rose 11.0 sen (+8.03%) backed by stronger-than-average trading volume.
• We believe yesterday’s close saw the share marks a break-out to potentially signal for an uptrend continuation.
• The technical outlook appears bullish, underpinned by positive momentum indicators as displayed by a continuous positive movement in MACD with minor upticks seen in RSI and Stochastic.
• Expect the share to advance towards RM1.56 (R1), with a decisive breakthrough to see the share on a higher note towards RM1.84 (R2).
• Conversely, immediate support levels can be identified at previous resistance-turned-support of RM1.36 (S1) and further down at RM1.28 (S2).

Source: Kenanga Research - 30 Aug 2018