PENTA (Not Rated)

• PENTA gained 10.0 sen (2.96%) to close at RM3.48.
• The share has been on a rally since early-January followed by three bullish candlesticks that pierced through 20-Day SMA.
• We believe the bullish trend remains intact with the appearance of a “Marubozu” candlestick yesterday, coupled with the above-average trading volume at 2.25m.
• Should buying momentum persist, we expect the share to advance towards RM3.60 (R1) and RM3.85 (R2).
• Conversely, downside risks are identified at RM3.25 (S1) and RM2.96 (S2).

VITROX (Not Rated)

• VITROX gained 15.0 sen (+2.14%) yesterday to close at RM7.17.
• Yesterday’s move saw the share broke above the 100-day SMA, possibly indicating more upside potential.
• Moreover, yesterday’s move was also backed by higher-than-average trading volume.
• From here, follow-through buying momentum will see the share test its immediate resistance at RM7.50 (R1) with the next resistance identified at RM8.00 (R2).
• Conversely, downside supports are found at RM6.50 (S1) and RM5.70 (S2).

Source: Kenanga Research - 5 Mar 2019