ALAM (Not Rated)

• ALAM gained 0.5 sen (+5.26%) yesterday to close at RM0.100.
• The share has staged a recovery in mid-December 2018 and has since broken above both 20 and 50-day SMA. However, we note that the 100-day SMA has proven to be a rather resilient level. Coupled with both stochastic and RSI indicators near overbought levels, we opine that selling pressure is likely to emerge.
• Should a retracement happen, we look towards RM0.080 (S1) and RM0.060 (S2) as support levels.
• Conversely, should the buying momentum continue, we expect resistances at RM0.110 (R1) and RM0.140 (R2).

VIZIONE (Not Rated)

• VIZIONE gained 2.0 sen (+2.00%) to close at RM1.02 yesterday, underpinned by stronger than 20-day average trading volume.
• Overall technical outlook appears improving backed by recent “Golden Crossover” formation between 20 and 50-day key SMAs.
• Momentum indicators mostly leaning on the upside-bias as displayed by strong upwards movement in the MACD, RSI and Stochastic.
• Should the buying momentum be sustained, we expect the share to advance towards RM1.08 (R1), with a decisive takedown will see the share on higher notes towards RM1.20 (R2).
• Meanwhile, support levels are found at RM0.945 (S1) and RM0.875 (S2) further down.

Source: Kenanga Research - 29 Jan 2019