MASTER (Not Rated)

• Yesterday, MASTER jumped 21.0 sen (+12.10%) to close at RM1.94.
• Chart-wise, the share has been on a rally after a long period of consolidation. Yesterday’s candlestick formed the fourth consecutive long bullish candlestick which led the share to surge to a nine-year high.
• While the underlying uptrend appears to be intact, we believe that there could be some profit-taking activities over the next few trading days as the RSI and Stochastic are in the heavily overbought zone.
• From here, the share may temporarily retrace back to its supports at RM1.70 (S1) and RM1.50 (S2).
• Conversely, resistance levels can be found at RM2.10 (R1) and RM2.20 (R2).

UTDPLT (Not Rated)

• UTDPLT gained 32.0 sen (+1.30%) to close at RM25.82 yesterday.
• Chart-wise, the share appears to be bottoming-out from its sell-down that started in early October. Notably, yesterday’s candlestick closed with a long bullish “Marubozu Candlestick”, while its short term SMAs is in midst of a “Golden-Cross” position.
• Coupled with positive upticks from key momentum indicators, we believe that the rally could continue.
• Look out for immediate resistance at RM26.00 (R1), where a break above would see the stock head higher towards RM26.60 (R2).
• On the other hand, downside supports can be identified at RM24.70 (S1) and RM24.20 (S2).

Source: Kenanga Research - 19 Nov 2019