PENTA (Not Rated)

• PENTA gained 18.0sen (+4.89%) to close at RM3.86 yesterday.
• The share has been on an uptrend since early-January and is currently at its all-time high.
• Yesterday’s candlestick closed higher and break above its ascending triangle pattern formation. Coupled with a bullish MACD Crossover and all key SMAs that appear to be healthy, we expect the share to trend higher.
• With that, key resistances can be seen at RM4.20 (R1) and RM4.40 (R2).
• Conversely, key support levels can be found at RM3.50 (S1) and RM3.30 (S2).

MALAKOF (Not Rated)

• MALAKOF lost 1.0sen (-1.18%) to end at RM0.840 yesterday.
• Chart-wise the share has been consolidating since early-August.
• Yesterday’s candlestick gapped down and traded below all key SMAs, indicating that selling pressure has escalated. Coupled with below-average trading volume and lacklustre in key technical indicators, we expect the downtrend to persist.
• Should selling pressure persist, key support levels can be seen at RM0.800 (S1) and RM0.740 (S2).
• With that, key resistance levels can be seen at RM0.885 (R1) and RM0.925 (R2).
• Source: Kenanga Research - 13 Sept 2019