KOSSAN (Not Rated)

• KOSSAN gained 3.0 sen (+0.73%) to close at RM4.13 yesterday.
• Chart-wise, the share has broken above the key SMAs and downtrend line 2 days ago coupled with higher-than-average trading volume.
• Yesterday, it managed to trade higher and hold above the key SMAs and trend line provide further confirmation of the trend breakout. All in, we believe the share has more upside potential.
• Should the share continue its upward movement, the resistance levels can be found at RM4.40 (R1) and RM4.60 (R2).
• Conversely, support levels can be identified at RM3.70 (S1) and RM3.90 (S2).

DRBHCOM (Not Rated)

• DRBHCOM lost 4.0 sen (-1.52%) to end at RM2.59 yesterday.
• Chart-wise, the uptrend still remains intact coupled with bullish MACD indicator after the share hit the low at RM1.88 back in mid-May 2019.
• Recently, it has formed a “Flags” chart pattern after the share price achieved the high at RM2.71. We believe that the share could go higher after breakout from the “Flags” pattern.
• Should the breakout happen, the resistances level can be found at RM2.65 (R1) and RM2.80 (R2).
• Conversely, support levels can be identified at RM2.40 (S1) and RM2.30 (S2).

Source: Kenanga Research - 8 Aug 2019