SCOMNET (Not Rated)

• SCOMENT gained 2.5 sen (+2.69%) to close at RM0.955 yesterday on the back of stronger- than-average trading volume.
• Chart-wise, SCOMNET has been on uptrend since mid-December, leading all key moving averages upwards in a fanning state.
• Continuation of the bullish trend is further backed by improvement seen in key momentum indicators while key SMAs remains in “Golden Cross” state.
• Should follow through buying momentum be sustained, expect the share to advance towards RM1.00 (R1), with a decisive takedown will then see next resistance RM1.10 (R2).
• Downside support levels can be found at RM0.920 (S1) and RM0.815 (S2).

TGUAN (Not Rated)

• TGUAN gained 8.0 sen (+3.19%) to close at RM2.59 on higher-than-average trading volume.
• Chart-wise, yesterday’s close saw the share breaking out from RM2.58 prior resistance level.
• Momentum indicators are increasingly positive as displayed by the bullish MACD crossover and upticks seen in RSI and Stochastic.
• From here, key resistances to look out for are RM2.70 (R1) and RM2.85 (R2) further up.
• Conversely, support level can be found at RM2.45 (S1) with next support level at RM2.30 (S2).

Source: Kenanga Research - 26 Apr 2019