GCB (Not Rated)

• On Tuesday, GCB rose 14.0 sen (+3.49%) to close at RM4.15.
• Overall, the share’s uptrend is intact with it trending above all key SMAs.
• Notably, Tuesday’s move saw it break above a key resistance level which it has tested twice previously.
• From here, the share may continue going up to its next resistances at RM4.35 (R1) and RM4.55 (R2).
• Conversely, downside supports can be found at RM3.72 (S1) and RM3.35 (S2).

KAREX (Not Rated)

• KAREX climbed up 3.5 sen (+5.83%) to end at RM0.635.
• Chart-wise, the share has been on a rally since April, which was backed by stronger-than-average trading volumes.
• Moreover, the formation of two “Golden Crossover” recently may suggest the possibility of a continuation of the rally.
• Expect follow-through buying to continue towards RM0.650 (R1) and RM0.780 (R2).
• Conversely, downward supports are identified at RM0.500 (S1) and RM0.375 (S2).

Source: Kenanga Research - 2 May 2019