KRONO (Close Position @ RM0.660)

• KRONO fell 4.0 sen (-5.71%) to close at RM0.660 yesterday.
• Since our ‘Trading Buy’ call earlier this August, the share rallied to a high of RM0.810. However, it failed to break above its resistance of RM0.820 and saw a gradual decline thereafter.
• Key momentum indicators such as the MACD and RSI are showing negative signals, indicating a loss of momentum with the share price breaking below its ascending triangle formation decisively.
• We decide to close position for now. Traders can consider selling on any near-term strength towards RM0.720 (R1).
• Conversely immediate support levels are RM0.640 (S1) and further down at RM0.600 (S2).

BAHVEST (Close Position @ RM1.08)

• Following our “Trading Buy” call on BAHVEST in July 2018, the share rallied for a short moment and attempted to break past the RM1.40 resistance level.
• However, the bullish run was not sustained as the share quickly went into a downtrend.
• Overall technical picture is looking bearish with all key technical indicators in negative mode. More notably, the 100-day SMA had recently crossed above the 20-day SMA.
• Thus, we choose to close position for now. Traders could sell on strength towards the RM1.15 (R1) or even RM1.20 (R2). Conversely, we may position for a re-entry if it falls further to the RM1.00 (S1) and RM0.850 (S2) levels.

Source: Kenanga Research - 13 Sept 2018