PENTA (Not Rated)

• PENTA gained marginally by 1.0sen (+0.21%) to close at RM4.75 yesterday.
• Chart-wise the share has been rallying since early-January this year.
• Yesterday’s candlestick continued to close above all key-SMAs backed by encouraging volume. Coupled with a MACD that is staging a potential bullish MACD Crossover, we thus expect the upward movement to persist.
• Should the share continue heading north key resistance levels are seen at RM4.90 (R1) and RM5.20 (R2).
• Conversely, key support levels can be seen at RM4.60 (S1) and RM4.40 (S2).

BINACOM (Not Rated)

• BINACOM gained by 2.5sen (+6.49%) to end at RM0.410 yesterday.
• Chart-wise, the share has been on an uptrend and punched through all key-SMAs.
• Yesterday’s candlestick closed higher with the formation of a “Marubozu Candlestick”, indicating strong buying interest. Coupled with an uptick in key technical indicators, we see more upside bias.
• Should the share continue respecting its 20-Day SMA, key resistance to look out for are at RM0.465 (R1) and RM0.525 (R2).
• Conversely, downside supports can be identified at RM0.360 (S1) and RM0.315 (S2).

Source: Kenanga Research - 8 Nov 2019