MI (Not Rated)

• MI gained 4.0sen (+1.89%) to close at RM2.16 yesterday.
• The share has been on a rally since breaking above its 100-day SMA in late-Aug 2019.
• With RSI and stochastic indicators in overbought territory, we reckon the share should experience a consolidation in the near term.
• Should buying momentum continue, key resistance can be seen at RM2.24 (R1) and RM2.30 (R2).
• Conversely, key support levels can be found at RM2.04 (S1) and RM1.92 (S2).

VS (Not Rated)

• Yesterday, VS rose 3.0 sen (+2.26%) to end at RM1.36.
• The underlying uptrend of the share remains intact given that the share remains above its key SMAs.
• Coupled with encouraging upticks in RSI and other momentum indicators, we believe the share could be poised for further gains.
• From here, resistances can be found at RM1.39 (R1) and RM1.58 (R2).
• Conversely, downside supports can be identified at RM1.25 (S1) and RM1.17 (S2).

Source: Kenanga Research - 19 Sept 2019