TOPGLOV (Not Rated)

• TOPGLOV gained 2.0 sen (+0.45%) to close at RM4.50.
• Chart-wise, the share had been on a downtrend since early December 2018, with declines of close to 30% from December’s high.
• Notably, the share is currently trading below all key SMAs, which may signify more downward movement.
• Expect the share to trend to its immediate support at RM4.30 (S1) while a break below S1 will see next support at RM4.00 (S2).
• Should there be any positive catalyst for the stock, overhead resistances can be found at RM5.00 (R1) and RM5.20 (R2).

MRCB (Not Rated)

• Yesterday, MRCB gained 2.5 sen (3.07%) to close at RM0.840.
• Chart-wise, MRCB has been on sideways trading since end-February, with yesterday’s move saw the share closing above all key SMAs.
• However, we think that the share is on course for downward trending as displayed by bearish MACD and weaknesses seen in RSI and Stochastic.
• Should momentum taper off, downside support can be identified at RM0.685 (S1) and RM0.550 (S2)
• Conversely, resistance levels can be found at RM0.880 (R1) and RM1.05 (R2).

Source: Kenanga Research - 27 Mar 2019