NOVA (Not Rated)

• NOVA gained 3.5 sen (+6.93%) to close at RM0.540 yesterday.
• Chart-wise, the stock has been consolidating since early December last year.
• Yesterday “Marubozu Candlestick” punched through the 20-Day SMA, indicating strong buying momentum. Given the uptick in key technical indicators, we expect the share to trend higher.
• From here on, overhead resistance can be seen at RM0.560 (R1) and RM0.635 (R2).
• Conversely, downside supports can be identified at RM0.465 (S1) and RM0.360 (S2).

SERNKOU (Not Rated)

• SERNKOU rose 5.0 sen (+5.85%) to close at RM0.905 yesterday.
• Chart-wise, the stock has been consolidating since last year November.
• Yesterday bullish engulfing candlestick was backed by above-average trading volume. Coupled with a bullish MACD Crossover and uptick in key technical indicator, we thus expect the share to trend higher.
• Should buying momentum persist, the stock is expected to test overhead resistance at RM0.950 (R1) and RM0.990 (R2).
• Conversely, support levels can be identified at RM0.850 (S1) and RM0.805 (S2).

Source: Kenanga Research - 8 Jan 2020