EKOVEST (Not Rated)

• EKOVEST gained 1.5 sen (+2.88%) to close at RM0.535 last night.
• Over the past few trading days, the share appears to be staging a rebound as the MACD is seemingly in a positive crossover.
• Moreover, the share has broken above the 100-day SMA, possibly signalling more upside.
• Should it be able to break above RM0.550 (R1) where the 20 and 50-day SMAs are hovering at, the share could then rally to its next resistance at RM0.580 (R2).
• Conversely, downside supports are identified at RM0.480 (S1) and RM0.450 (S2).

MBMR (Not Rated)

• Yesterday, MBMR gained 15.0 sen (5.43%) to close at RM2.91.
• Chart-wise, the share’s uptrend still remains intact since bottoming-out in late-Nov, with the uptrend backed by convincing surge in volumes.
• That said, yesterday’s move represents a second retest of its immediate resistance of RM2.92 (R1)
• Should this immediate resistance be taken out decisively, we see a clear path towards RM3.15 (R2).
• Conversely, failure to do so and the share may see a period of sideways consolidation, with immediate supports identified at RM2.67 (S1) and RM2.52 (S2).

Source: Kenanga Research - 3 Apr 2019