MYEG (Not Rated)

• Yesterday, MYEG grew by 7.0sen (+4.61%) to close at RM1.59.
• The share has been on an uptrend since mid-May.
• Yesterday candlestick formed a “Marubozu” candlestick which signifies bullish momentum. Coupled with healthy key-SMAs and above average trading volume, we believe the stock could trend higher.
• Should buying momentum persist, overhead resistances can be seen at RM1.70 (R1) and RM1.80 (R2).
• Meanwhile, downside support can be seen at RM1.40 (S1) and RM1.05 (S2).

BJFOOD (Not Rated)

• BJFOOD declined by 1.0 sen (-0.62%) to end at RM1.61.
• Chart-wise the share has declined since mid-June after the formation of a “Triple Top”.
• With the formation of a “Death Cross” as the chart 20-Day SMA has crossed through its 100-Day SMA, coupled with the lacklustre outlook as displayed by key momentum indicators, we expect the share to test its support level at RM1.50(S1) and RM1.35(S2).
• Conversely , key resistance level can be seen at RM1.71( R1) and RM1.90(R2)

Source: Kenanga Research - 17 Jul 2019