AMBANK (Not Rated)

• Yesterday, AMBANK lost 5.0 sen to close at RM4.08.
• Chart-wise, the share has broken below and deviated from the key SMAs signaling the change in underlying trend from sideway to downtrend.
• Moreover, the share broken below the trading range between RM4.60 and RM4.20 since last Friday coupled with higher than-average trading volume further support the bearish sentiment.
• Should the share continue its downward movement, the support levels can be found at RM3.90 (S1) and RM3.70 (S2).
• Conversely, resistance levels can be identified at RM4.60 (R1) and RM4.90 (R2).

GAMUDA (Not Rated)

• GAMUDA was down by 7.0 sen (-1.89%) yesterday to end at RM3.63.
• Chart-wise, share has broken below the upward trend line and the 50-days SMA yesterday alerting the investors on potential short-term retracement.
• However, without further confirmation of trend reversal, we opine that the major uptrend still remains intact.
• Should the share continue its upward movement, the resistances can be found at RM4.10 (R1) and RM4.60 (R2).
• Conversely, support levels can be identified at RM3.00 (S1) and RM2.60 (S2).

Source: Kenanga Research - 6 Aug 2019