GENTING (Not Rated)

• Yesterday, GENTING gained 8.0 sen (+1.17%), to close at RM6.89.
• The share has been on a downtrend since September 2018 after breaking below all key SMAs. However, the share broke above both the 20 and 50-day SMAs in early January potentially signaling a reversal.
• Coupled with the formation of a Golden Cross in early-January and positive signals from key momentum indicators, we believe this could indicate a continuation rally.
• We expect the share to advance towards RM7.10 (R1) closer to its 100-day SMA. Should this level be taken out, next resistance level to target is RM7.56 (R2).
• Conversely immediate support is to be seen at RM6.53 (S1) and RM6.35 (S2).

GCB (Not Rated)

• GCB gained 8.0 sen (+2.55%) to close at RM3.22 yesterday underpinned by stronger-than-average trading volume with 2.1m shares exchanging hand- almost doubled its 20-day average.
• Chart-wise, the share has been on uptrend since April last year, continuously leading all key moving averages upwards.
• Technical outlook appears leaning on the upside-bias backed by momentum indicators mostly displaying positive signals.
• Should the buying interest be sustained, expect GCB to advance towards RM3.50 (R1), with a decisive takedown will see the share on a clear path towards RM3.75 (R2).
• Meanwhile, support levels are found at RM2.65 (S1) and RM2.40 (S2) further down.

Source: Kenanga Research - 30 Jan 2019