CARIMIN (Not Rated)

• CARIMIN gained 3.5 sen (+3.76%) to close at RM0.965 yesterday.
• The share has been trending gradually upwards since early-August.
• Yesterday’s candlestick closed higher owing to higher than average trading volume. Coupled with the formation of a “Golden Cross” and uptick in key technical indicator, we see more upside potential.
• From here should buying momentum persist, overhead resistance can be seen at RM1.05 (R1) and RM1.10 (R2).
• Conversely, key support levels can be found at RM0.895 (S1) and RM0.810 (S2).

DAYANG (Not Rated)

• DAYANG gained 5.0 sen (+3.29%) to end at RM1.57 yesterday.
• Chart-wise, the share has tested the 50-Day SMA in late-August and has continued its uptrend since.
• Yesterday bullish candlestick marked the third consecutive bullish candlestick. Besides, an uptick in RSI coupled with bullish MACD crossover prompt us to believe that the buying momentum could persist.
• With that, key resistance levels can be seen at RM1.70 (R1) and RM2.00 (R2).
• Conversely, key support levels can be seen at RM1.30 (S1) and RM1.10 (S2).

Source: Kenanga Research - 12 Sept 2019