MYEG (Not Rated)

• MYEG closed flat at RM1.40 on Tuesday.
• The stock appears to be consolidating above its 100-day SMA, while RSI remains flat in the neutral zone.
• We observed a similar pattern in Jan-Feb 2019, where the stock consolidated close to its 20 and 50-day SMAs, with similar RSI signals before a rally to a high of RM1.75. Therefore, we believe current consolidation could lead to a potential rally.
• Immediate support levels can be found at RM1.36 (S1) and RM1.05 (S2), while resistance levels can be identified at RM1.70 (R1) and RM1.80 (R2).

HOHUP (Not Rated)

• HOHUP declined 1.0sen (+1.77%) to end at RM0.555, on Tuesday.
• The stock has been on an uptrend since Jan-19 and has since retraced. Chart-wise, the underlying uptrend remains intact as shorter-term SMAs are trading above longer-term SMAs.
• As the stock has retraced to more palatable levels and RSI as well as stochastic have come off from overbought levels, we believe that there could be a continuation rally.
• Fibonacci suggests key support levels at RM0.535 (S1) and RM0.490 (S2) which we opine could serve as attractive entry points.
• Conversely resistance levels can be found at RM0.600 (R1) and RM0.695 (R2).

Source: Kenanga Research - 7 Jun 2019