CIMB (Not Rated)

• CIMB rose 4.0sen (+0.75%) to close at RM5.38 yesterday.
• Of late, we note that the share has regained buying interest and is trending above all of its key SMAs.
• Coupled with the formation of three bullish candlesticks and a bullish MACD crossover, we believe that buying interests may persist.
• Expect the share to trend higher and test resistances at RM5.50 (R1) and RM5.80 (R2).
• Conversely, downside support can be seen at RM5.20 (S1) and RM5.00 (S2).

EATECH (Not Rated)

• Yesterday, EATECH gained 2.0sen (+4.71%) to end at RM0.445.
• Chart-wise, the share has been trending downwards since early-April.
• The formation of a “Marubozu” candlestick yesterday punched through the 20-day SMA. Coupled with above-average trading volume and uptick in key technical indicators, we believe this could signify a potential reversal.
• Should buying momentum persist, resistance can be found at RM0.465 (R1) and RM0.520 (R2).
• Conversely, supports are seen at RM0.400 (S1) and RM0.360 (S2).

Source: Kenanga Research - 27 Jun 2019