ARMADA (Not Rated)

• ARMADA lost 1.0 sen (-2.94%) to close at RM0.330 yesterday.
• Chart-wise, the share has been on a rally after breaking out from its consolidation phase since late-August this year.
• Nevertheless, we note that trading volumes have tapered down for the past two days. Coupled with uninspiring key momentum indicators, we believe that the share is poised for a retracement to trade closely with its 20-day key SMA.
• From here, support levels can be identified at RM0.285 (S1) and RM0.215 (S2).
• On the other hand. Should buying momentum persist; resistances can be found at RM0.405 (R1) and RM0.510 (R2).

ORION (Not Rated)

• Yesterday, ORION rose 1.0 sen (+11.76%) to end at RM0.095.
• Chart-wise, the share has undergone a period of sell down since March this year. Nonetheless as evidence by previous days’ buying momentum which managed to push the share to trade and close above its 20-day SMA, we note that the share seems to be staging a rebound.
• Coupled with a bullish MACD crossover, we believe that the share may be poised for further gains.
• From here, resistances can be found at RM0.115 (R1) and RM0.135 (R2).
• Conversely, downside supports can be identified at RM0.050 (S1) and RM0.025 (S2).

Source: Kenanga Research - 25 Sept 2019