MBMR (Not Rated)

• Yesterday, MBMR remained unchanged at RM3.30.
• Chart-wise, the underlying uptrend remains intact with the share currently trading well above its key SMAs.
• Moreover, we note that the share managed to hold above its 1-year swing high following the formation of a long white candlestick last week. Coupled with stronger-than-average trading volumes and a bullish MACD formation, we believe that there may be more room for upside.
• Expect the share to trend upwards to test its resistance levels at RM3.55 (S1) and RM3.80 (S2).
• Conversely, support levels can be identified at RM3.00 (S1) and RM2.80 (S2).

GBGAQRS (Not Rated)

• GBGAQRS was down by 3.0 sen (-2.14%) yesterday to end at RM1.37.
• Chart-wise, the share has been trending between a range of RM1.18 and RM1.55 since March’19. Nevertheless, past few days’ bearish momentum have prompted the share to test its supports at the longer-term SMAs after punching below its 20- day SMAs.
• Should the share decisively close below its longer-term SMAs, expect the share to trend lower to find supports at RM1.18 (S1) and RM1.00 (S2).
• Conversely, resistance levels can be identified at RM1.55 (S1) and RM1.65 (S2).

Source: Kenanga Research - 2 Aug 2019