MHB (Not Rated)

• MHB gained 4.0sen (+4.71%) to close at RM0.890 yesterday.
• The share has been trending upwards since late-December last year.
• Yesterday candlestick closed higher with the formation of a bullish candlestick. Coupled with an uptick in all key technical indicators and above average trading volume, we expect the share to trend higher.
• Should buying momentum persist, key resistance can be seen at RM0.930 (R1) and RM0.975 (R2).
• Conversely, key support levels can be found at RM0.800 (S1) and RM0.740 (S2).

SCOMNET (Not Rated)

• Yesterday, SCOMNET rose 3.5 sen (+4.17%) to end at RM0.875, on the back of stronger-than-average trading volumes.
• Chart-wise, the share has bottomed out since the beginning of this month, which saw it trading above all of its key SMAs.
• Coupled with a bullish MACD, we believe that there may still be room for upside.
• Here forth, expect the share to trend higher to test resistances at RM0.950 (R1) and RM1.050 (R2).
• Conversely, downside supports can be identified at RM0.725 (S1) and RM0.625 (S2).

Source: Kenanga Research - 18 Sept 2019