MASTER (Not Rated)

• MASTER gained 21.0 sen (+8.08%) to close at RM2.81 yesterday, backed by above-average trading volume.
• Chart-wise, the stock has been on an uptrend since February last year.
• Yesterday, the stock closed higher with the formation of a “Marubozu” candlestick, indicating strong buying interest. Given that all key-SMAs appear to be healthy, we expect the stock to trend higher.
• From here on, overhead resistance can be seen at RM2.90 (R1) and RM3.10 (R2).
• Conversely, downside supports can be identified at RM2.60 (S1) and RM2.30 (S2).

NAIM (Not Rated)

• NAIM gained 16.0 sen (+14.04%) to close at RM1.30 yesterday.
• Chart-wise, the stock has been gradually rising since end of May last year.
• Yesterday’s “Marubozu” candlestick closed higher above its key resistance level at RM1.17. Despite the stock’s RSI trading near overbought levels, we believe the encouraging volume shall bring the stock to trend higher.
• Should buying momentum persist, overhead resistance are at RM1.45 (R1) and RM1.60 (R2).
• Conversely, support levels can be identified at RM1.12 (S1) and RM0.965 (S2).

Source: Kenanga Research - 23 Jan 2020