CARING (Not Rated)

• Yesterday, CARING dropped 4.0 sen (-1.61%) to close at RM2.45.
• Chart-wise, we note that the share began rallying since late-September this year, which saw it currently trading above its key SMAs.
• Nonetheless, the share closed with a “doji” candlestick pattern yesterday, which may play as a signal for a potential reversal.
• Coupled with its key momentum indicators hovering around the overbought areas, expect the share to retrace to find support levels at RM2.30 (S1) and RM2.15 (S2)
• Conversely, resistance levels can be identified at RM2.60 (R1) and RM2.85 (R2).

JFTECH (Not Rated)

• JFTECH slipped 1.0 sen (-1.01%) to end at RM0.985 yesterday.
• Chart-wise, the share has been rallying since early-October this year, which saw it successfully closed above a key resistance level which has been tested several times.
• Should the rally persist and allow the share to hold decisively above the foresaid key resistance level, we believe that there may be room for more upside.
• Resistance levels can be found at RM1.10 (R1) and RM1.25 (R2). Conversely, downside supports can be identified at RM0.830 (S1) and RM0.780 (S2).

Source: Kenanga Research - 24 Oct 2019