SIME (Not Rated)

• SIME lost 4.0 sen (-1.73%) to end at RM2.27 yesterday.
• Chart-wise, the share has been trading between a range RM2.00 and RM2.50 since Nov’18. Notably, we observed that lately the share seems to be retracing from a mini rally that started in late-August.
• Coupled with uninspiring key momentum indicators and a bearish MACD crossover, we believe that there may be more room for downside.
• From here, expect the share to find support levels at RM2.15 (S1) and RM2.05 (S2).
• On the other hand, resistances can be found at RM2.40 (R1) and RM2.50 (R2).

DAYANG (Not Rated)

• Yesterday, DAYANG gained 2.0 sen (+1.27%) to close at RM1.59.
• Chart-wise, the share has been on a steady uptrend since late-May, which saw the share currently trading above all of its key-SMAs.
• With room for further upticks on RSI, we believe that the bullish momentum may persist to test resistances at RM1.75 (R1) and RM2.00 (R2).
• Conversely, downside supports can be identified at RM1.30 (S1) and RM1.10 (S2).

Source: Kenanga Research - 26 Sept 2019