CMSB (Not Rated)

• CMSB rose 14.0 sen (+6.00%) to close at RM2.49 yesterday.
• Technically, the share seems to be taking a breather from the downtrend that started in April as shown by the three consecutive white candlesticks that formed recently, particularly with yesterday’s candlestick closing above its 20 and 50-day SMA.
• Additionally, momentum indicators continue to show positive upticks on the back of a bullish MACD crossover, displaying signs of possible reversal.
• Should positive bias persist, resistance levels can be found at RM2.90 (R1) and RM3.10 (R2).
• Conversely, downside supports can be found at RM2.55 (S1) and RM2.25 (S2).

HLFG (Not Rated)

• HLFG fell 12.0 sen (-0.7%) to RM16.76 as investors reacted to the weaker 1Q20 earnings report card.
• Technically, the share has been slowly recovering since breaking below its 20-day SMA in July. However, we note that shorter-term SMAs are still trading below longer-term SMAs, indicating downwards sentiment. Coupled with the lack of positive upticks from key momentum indicators, we opine that there is more downside room.
• Should selling momentum persist, we expect to find supports at RM16.50 (S1) and RM16.00 (S2).
• Conversely, resistance levels can be found at RM17.10 (R1) and RM17.50 (R2).

Source: Kenanga Research - 28 Nov 2019