IWCITY (Not Rated)

• IWCITY gained 2.5 sen (+3.05%) to close at RM0.845 yesterday.
• The stock has been trading within the descending channel since mid-April 2019 after the share gapped up twice coupled with heavy trading volume.
• Lately, the share has broken out from the descending channel with higher-than-average trading volume and attempting to test the resistance at 20 and 50-days SMAs, hence we are expecting the share to continue its upward movement.
• Should buying momentum persist, resistance can be seen at RM0.920 (R1) and RM1.050 (R2)
• On the other hand, key support level can be found at RM0.780 (S1) and RM0.750 (S2).

CARIMIN (Not Rated)

• CARIMIN increased by 10.0sen (+16.39%) to end at RM0.710 yesterday.
• Chart-wise, the stock has broken below the key SMAs since mid-May 2019 and lately it has started to rebound from the downward movement after forming a Doji candle. The strong buying sentiment was confirmed by the formation of long bullish candle yesterday coupled with above-average trading volume.
• Hence, we expect the stock to test its resistance at RM0.750 (R1) and RM0.830 (R2).
• Conversely, downside support can be seen at RM0.540 (S1) and RM0.460 (S2).

Source: Kenanga Research - 31 May 2019