COMFORT (Not Rated)

• COMFORT's share price advanced 6.5 sen (+7.07%) to end at RM0.985 yesterday.

• Chart-wise, the share has been on an uptrend after rebounding from a strong sell-down in October. This, coupled with its rising MACD indicator on top of yesterday’s surged volumes, could suggest an underlying build-up in buying momentum.

• From here, we see a takedown of immediate resistances at RM1.02 (R1) and RM1.05 (R2) as necessary before its technical picture can be deemed as outright bullish.

• Meanwhile, downside supports can be RM0.920 (S1) and RM0.860 (S2).

SCOMNET (Not Rated)

• SCOMNET climbed 3.5 sen (+5.07%) to end at RM0.725 yesterday.

• Chart-wise, the share has enjoyed an impressive rally since April, meeting some sideways consolidation in the past couple weeks. Nonetheless, indicators are still seemingly bullish with an up trending MACD while the “Golden Cross” between key SMAs still remains intact.

• From here, watch out for some immediate resistances at RM0.730, in which the share has still yet to break past despite multiple retests of late. A decisive breakout would see the share continue towards RM0.840 (R1) and RM0.910 (R2).

• Conversely, downside risks are identified at RM0.620 (S1), which is the immediate support level, and RM0.550 (S2) next.

Source: Kenanga Research - 29 Nov 2018