CCK (Not Rated)

• Yesterday, CCK gained 3.0 sen (+6.67%), to close at RM0.480.
• The share has been on a downtrend since early-June last year as key SMAs continually declined. However, a short rally was seen in early-January as the share broke above its 20-day SMA.
• We believe buying momentum should persist as the share trading volume of 4.49m is above its average trading volume with the formation of a bullish “Marubozu” candlestick.
• Coupled with the positive uptick from key momentum indicators, we expect CCK to advance towards RM0.515 (R1) closer to its 100-day SMA. Should this level be taken out, next resistance level to target is RM0.580 (R2).
• Conversely immediate support can be seen at RM0.420 (S1) and RM0.370 next (S2).

HARTA (Not Rated)

• HARTA gained 12.0 sen (+2.18%) to close at RM5.62 last night.
• The share had declined sharply during the early weeks of January, hitting a low of RM4.97 in mid-January 2019. Since then, the share has rebounded and recorded a gain of 13%.
• Overall technical outlook is increasingly positive as key indicators are in a bullish convergence.
• From here, we expect the share to test its immediate resistance at RM6.00 (R1) and even the higher resistance of RM6.50 (R2).
• Conversely, downside supports are identified at RM5.25 (S1) and RM4.95 (S2).

Source: Kenanga Research - 25 Jan 2019