HEIM (Not Rated)

• HEIM rose 20.0sen (+0.80%) to end at RM25.50 yesterday.
• Chart-wise, the share has been on an uptrend since early October 2019. Yesterday’s candlestick closed higher to form a bullish candlestick, indicating buying momentum.
• Coupled with the formation of a “Golden Cross” and uptick in key technical indicators, we see more upside potential.
• Should buying momentum persist, overhead resistance can be seen at RM25.70 (R1) and RM26.00 (R2).
• Conversely, key support levels can be found at RM25.00 (S1) and RM24.30 (S2).

PENERGY (Not Rated)

• PENERGY jumped by 19.0 sen (+13.1%) to end at RM1.64 yesterday.
• The share has been on a rally after breaking above all its key SMAs in early September. Yesterday’s candlestick formed a long bullish candlestick backed by above-average trading volume.
• However given overbought signals from the RSI and Stochastic indicators, the share should likely experience a consolidation in the near-term.
• With that, key resistance levels can be seen at RM1.80 (R1) and RM1.90 (R2).
• Conversely, key support levels can be seen at RM1.40 (S1) and RM1.20 (S2).

Source: Kenanga Research - 12 Nov 2019