KNM (Not Rated)

• Yesterday, KNM gained 4.5 sen (+12.33%) to close at RM0.410.
• Chart-wise, the share has been on a massive rally since breaking above its 100-day SMA in March 2019. Yesterday’s candlestick broke above its previous swing high of RM0.405, marking a breakout.
• Coupled with encouraging upticks from key momentum indicators, we believe that the rally could continue.
• Look out for resistance levels at RM0.460 (R1) and RM0.490 (R2).
• On the other hand, support levels can be found at RM0.350 (S1) and RM0.320 (S2).

PANTECH (Not Rated)

• PANTECH fell 3.5 sen lower (-6.67%) to end at RM0.490, yesterday.
• Yesterday saw the formation of an exceptionally long bearish candlestick on exceptionally high trading volume. However, we think the sell down could have been overdone and a rebound is likely to happen.
• RSI is nearing oversold territory while Stochastic is displaying oversold signal, reinforcing our view of a rebound.
• Resistance levels can be identified at RM0.510 (R1) and RM0.535 (R2), while support levels to look out for are RM0.485 (S1) and RM0.460 (S2).

Source: Kenanga Research - 25 Jul 2019