ANNJOO (Not Rated)

• Yesterday, ANNJOO was unchanged at RM1.22.
• Chart-wise, the stock’s trend has turned to a bullish stance since early-December.
• Yesterday candlestick continued respecting the 20-Day SMA, while backed by above-average trading volume. Coupled with an uptick in key technical indicator, we expect the bullish momentum to persist.
• Should the share head north, overhead resistance can be found at RM1.35 (R1) and RM1.61 (R2).
• Conversely, key support levels are seen at RM1.09 (S1) and RM0.950 (S2)

TAKAFUL (Not Rated)

• TAKAFUL remained unchanged to close at RM5.70 yesterday.
• The stock has been on a downtrend since early-June this year after achieving a record high.
• Yesterday candlestick continued to close lower below all key-SMA. Nevertheless, we believe the stock could rebound, given an uptick of RSI from its oversold region while selling momentum continues to ease.
• Should buying interest resume resistance can be seen at RM6.50 (R1) and RM6.70 (R2).
• Conversely, key support levels are seen at RM5.30 (S1) and RM4.80 (S2)

Source: Kenanga Research - 2 Jan 2020