PWROOT (Not Rated)

• PWROOT gained 8.0 sen (+5.37%) to close at RM1.57.
• While the underlying uptrend appears to be still intact, we believe that there could be some profit-taking activities over the next few trading days as the stochastic indicator is in the overbought zone.
• From here, the share may temporarily fall back to its supports at RM1.50 (S1) and RM1.40 (S2) which serves as a good entry point for investors to put position in.
• After that, the continuation of the uptrend would then see it head to its resistances at RM1.62 (R1) and RM1.70 (R2).

TENAGA (Not Rated)

• TENAGA closed higher by 60.0 sen (+4.52%) to end at RM13.88.
• Yesterday’s white “Marubozu” candlestick indicates that the uptrend is likely to continue. Moreover, other momentum indicators are in a bullish convergence.
• Expect the share to test its next resistance at RM15.00 (R1) before heading higher towards RM15.50 (R2).
• Conversely, downside supports can be identified at RM13.00 (S1) and RM12.50 (S2).

Source: Kenanga Research - 21 Jun 2019