KNM (Not Rated)

• Yesterday, KNM rose 0.50 sen (+1.10%) to close at RM0.460.
• Chart-wise, the share has been on a rally since the end of last year, which saw it currently trading steadily above all of its keySMAs.
• As its momentum indicators remain encouraging, we believe that the bullish momentum may persist on the back of its stronger-than-average trading volumes.
• Expect the share to trend higher to test the resistance level at RM0.520 (R1) and RM0.575 (R2)
• On the other hand, support levels can be found at RM0.360 (S1) and RM0.300 (S2).

SALUTE (Not Rated)

• SALUTE gained 5.50 sen (6.25%) to end at RM0.935 yesterday.
• Chart-wise, the share has been on a steady uptrend since July this year.
• Coupled with bullish MACD indicator, we believe the share could move higher.
• Should the buying interest persist, the key resistance levels to look out for are RM1.25 (R1) and RM1.10 (R2).
• Conversely, downside supports can be identified at RM0.800 (S1) and RM0.660 (S2).

Source: Kenanga Research - 22 Oct 2019