CARLSBG (Not Rated)

• CARLSBG rose 2.0 sen (+0.10%) to close at RM20.36.
• The share has been on an uptrend since mid-October last year as it gapped up and punched through the 20-day SMA with the formation of a “Golden Cross” in early-January that signifies buying interest in the share.
• We believe the share could continue its rally as the chart closed yesterday with a bullish hammer candlestick while key technical indicators are leaning towards a positive bias.
• From here, we expect CARLSBG to advance to find overhead resistance at RM20.72 (R1) and RM21.30 (R2).
• Conversely, immediate support can be found at RM19.56 (S1) and RM18.84 (S2).

LONBISC (Not Rated)

• LONBISC gained 2.5 sen (+4.39%) to close at RM0.595 yesterday on the back of stronger-than-average trading volume with 14.1m shares exchanging hand-doubled its 20-day average.
• Technically, the share has been enjoying a steady uptrend since May last year, with yesterday’s close resulting in a formation of bullish Marubozu candlestick and a breakout above RM0.585 prior resistance level.
• Momentum indicators appear in supportive for a positive outlook as displayed by the bullish MACD and minor upticks seen in RSI and Stochastic.
• Key resistance to look out for is at RM0.650 (R1) with the next leg of "higher high" towards resistance level RM0.720 (R2).
• Downside supports can be found at RM0.545 (S1) and RM0.475 (S2) further down.

Source: Kenanga Research - 31 Jan 2019