GAMUDA (Not Rated)

• GAMUDA gained 11.0 sen (+3.24%) to close at RM3.50 yesterday.

• We note that the share had been on a gradual uptrend since the start of the year with key SMAs currently appearing to support this uptrend.

• We opined that the share may continue its upward movement if it breaks above the RM3.50 psychological level. Once it happens, expect it to test resistances at RM3.95 (R1) and RM4.40 (R2).

• On the other hand, any retracement towards RM3.20 (S1) would be a good entry point for interested investors while a break below RM2.75 (S2) is highly negative.

OSK (Not Rated)

• OSK recorded 2.20% gains (+2.0 sen) yesterday to end at RM0.930.

• While the share has staged a rebound since the start of June 2019, we believe that the rally may be overdone and that there is a possibility of a retracement over the next few days.

• Expect it to retrace back to its supports at RM0.905 (S1) and possibly RM0.885 (S2).

• Conversely, a break above the 50- and 100-day SMAs may see it continue to rally towards RM0.955 (R1) and RM0.975 (R2).

Source: Kenanga Research - 19 Jun 2019