TM (Not Rated)

• TM gained 6.0 sen (+1.69%) to close at RM3.61 yesterday.
• Chart-wise, the share has broken above the key SMAs and rallied to nine-month high after the group announced an almost doubling of its net profit for 1Q19.
• Following the bullish momentum lately which was supported by inspiring key technical indicators, we believe the share may continue trending upwards.
• Should buying interest persist, resistance can be seen at RM4.00 (R1) and RM4.20 (R2)
• On the other hand, key support level can be found at RM3.28 (S1) and RM3.08 (S2).

ECONBHD (Not Rated)

• Yesterday, ECONBHD rose 1.0 sen (+1.46%) to end at RM0.695, on stronger-than-expected trading volumes.
• We observed that the recent rally has prompted the share to trade above its key SMAs. Coupled with a bullish MACD crossover, we believe that there may be further room for upside.
• We expect the share to test its higher resistances at RM0.830 (R1) and RM0.975 (R2).
• Conversely, downside supports can be seen at RM0.515 (S1) and RM0.415 (S2).

Source: Kenanga Research - 12 Jun 2019