CIMB (Not Rated)

• CIMB declined by 7.0 sen (-1.36%) to end at RM5.08, yesterday.
• Chart-wise, the share has since been trending downwards since the formation of a “Death Cross” in late-February.
• Despite a bearish technical outlook, we believe the share could be headed for a rebound, as its RSI and Stochastic are both in the oversold region.
• From here onwards, we expect the share to test its overhead resistance at RM5.35 (R1) and RM5.80 (R2).
• Meanwhile, downside supports can be seen at RM4.90 (S1) and RM4.55 (S2).

WCEHB (Not Rated)

• WCEHB gained 3.0 sen (5.66%) to close at RM0.560 backed by stronger-than-average trading volume with 1.1m shares exchanging hand, tripled its 20-day average.
• Technically, yesterday’s close could suggest a bullish reversal as the share appears to have bottomed out.
• Momentum indicators appear leaning on the upside at this juncture underpinned by the bullish MACD crossover with minor upticks seen in RSI and Stochastic.
• Expect the share to test its resistance at RM0.680 (R1) and RM0.800 (R2).
• Conversely, downside support can be found at RM0.470 (S1).

Source: Kenanga Research - 2 Apr 2019