TECFAST (Not Rated)

• Yesterday, TECFAST rose 1.0 sen (+2.11%) to close at RM0.485.
• Chart-wise, the stock has been on an uptrend since early-June.
• Yesterday candlestick closed higher with a bullish candlestick. Coupled with healthy key SMAs and an uptick in key technical indicators, we believe the share could trend higher.
• From here, overhead resistance can be found at RM0.520 (R1) and RM0.560 (R2) next.
• Conversely, key support levels are seen at RM0.440 (S1) and RM0.400 (S2)

CARLSBG (Not Rated)

• CARLSBG closed marginally lower by 2.0 sen (-0.07%) to close at RM29.28 yesterday.
• The stock has been on an uptrend since early-August this year.
• Yesterday candlestick closed lower but continued to close above all key SMAs. Despite an overbought RSI, we believe more upside can be seen based on a bullish MACD while RSI appears to be holding at current level.
• Should buying momentum persist we expect the stock to test its resistance at RM29.60 (R1) and RM31.00 (R2).
• Conversely, support levels can be found at RM28.20 (S1) and RM27.30 (S2)

Source: Kenanga Research - 31 Dec 2019