PECCA (Not Rated)

• PECCA gained 8.0 sen (+6.84%) to close at RM1.25 yesterday.
• We noticed the share has been consolidating close to its 20- and 50-day SMAs. Yesterday’s candlestick marked a gap up and a break above its previous swing high (RM1.24).
• With shorter-term key SMAs trending above longer-term SMAs, we believe the uptrend is intact and with PECCA having broken above its previous swing high, we believe momentum could continue.
• Key resistance levels to look at are RM1.37 (R1) and RM1.45 (R2). Conversely, support levels can be identified at RM1.11 (S1) and RM1.03 (S2).

NAIM (Not Rated)

• NAIM gained 3.0 sen (+2.83%) to end at RM1.09 yesterday.
• Chart-wise, the share has broken above its 100-day SMA last Friday and is consolidating at a Fibonacci level.
• Meaningful upticks from key momentum indicators like RSI and stochastic lead us to believe that the share could be poised to head higher.
• Resistance levels can be identified at RM1.21 (R1) and RM1.44 (R2), while support levels can be found at RM1.06 (S1) and RM0.940 (S2).

Source: Kenanga Research - 22 Aug 2019