CARLSBG (Not Rated)

• CARLSBG increased by 12.0sen (+0.43%) to end at RM27.80 yesterday.
• Chart-wise the share broke through all key-SMAs in late-August this year and has since been trending upwards.
• Yesterday, the candlestick closed higher and continued to test the stock’s record high level. Given that the RSI is still hovering at neutral levels while the MACD appears bullish, we expect the share to trend higher.
• Should buying momentum persist, key resistance levels are seen at RM29.00 (R1) and RM29.75 (R2).
• Conversely, key support levels can be seen at RM26.90 (S1) and RM26.25 (S2).

MAYBULK (Not Rated)

• MAYBULK gained by 3.5 sen (+5.30%) to end at RM0.695 yesterday.
• Chart-wise, the share has been on an uptrend since mid-June.
• Yesterday, the long bullish candlestick punched through all key-SMA’s after testing its 50-Day SMA support level. With a bullish MACD-Crossover, while all key-SMAs appear to be healthy, we thus see more upward movement in the share.
• With that, key resistance levels can be found at RM0.800 (R1) and RM0.960 (R2).
• Conversely, downside supports can be identified at RM0.590 (S1) and RM0.400 (S2).

Source: Kenanga Research - 7 Nov 2019