DAYANG (Not Rated)

• DAYANG took a breather, dropping 1.0 sen (-0.59%) to close at RM1.68 yesterday.
• Chart-wise, the share has been trading above all the key SMAs since September 2019, and the SMAs is sloping upward following the share price closely.
• Coupled with bullish MACD indicator, we believe that the share could move higher.
• Should buying momentum persists, we expect the share to test the resistance level at RM1.75 (R1) and RM1.96 (R2)
• On the other hand, support levels can be found at RM1.50 (S1) and RM1.40 (S2).

REDTONE (Not Rated)

• Yesterday, REDTONE gained 1.0 sen (+2.06%) to close at RM0.495.
• Chart-wise, the share has been trading upward since January 2019 supported by increasing trading volume.
• Coupled with bullish MACD indicator, we believe the share could move higher to further test the significant high at RM0.540.
• Should the buying interest persist, the key resistance levels to look out for are RM0.540 (R1) and RM0.600 (R2).
• Conversely, downside supports can be identified at RM0.430 (S1) and RM0.380 (S2).

Source: Kenanga Research - 4 Oct 2019