BAHVEST(Not Rated)

• BAHVEST rose 3.5sen (+6.93%) to close at RM0.540 yesterday.
• Chart-wise, the share has been on a rally since last year December. Notably, the 20- and 50-day SMAs are in a “Golden Crossover” condition, which occurred four days ago, possibly signifying a continuation of the positive buying momentum.
• Should buying momentum persist, we look towards RM0.575 (R1) and RM0.635 (R2).
• Conversely, support levels can be found at RM0.460 (S1) and RM0.405 (S2).

FRONTKN (Not Rated)

• FRONTKN gained 3.5 sen (+4.02%) to close at RM0.905 after announcing strong quarterly net profit figure.
• The share was on an uptrend since mid-December 2018 from a low of RM0.635.
• Despite yesterday’s gain, we think that a short-term retracement is likely to happen as the stochastic indicator has been in the overbought zone for a very long period.
• From here, expect the share to retrace back to its support levels at RM0.850 (S1) and RM0.775 (S2) in the short-term.
• Should it continue to trend upwards, resistances can be found at RM0.995 (R1) and RM1.10 (R2).

Source: Kenanga Research - 13 Feb 2019