KAB (Not Rated)

• Yesterday, KAB gained 13.0 sen (+7.78%) to close at RM1.80.
• Chart-wise, we note that the stock has begun trending upwards since last year December.
• Following the formation of a “Marubozu” candlestick yesterday which suggests robust buying interest, we believe that the stock may be poised for more upside.
• Expect the stock to trend higher to test resistances at RM2.00 (R1) and RM2.20 (R2).
• Conversely, downside supports can be identified at RM1.60 (S1) and RM1.40 (S2).

BAHVEST (Not Rated)

• BAHVEST rose 2.0 sen (+3.64%) to close at RM0.570 yesterday.
• After a gradual sell down, the stock has been undergoing a period of consolidation since October last year.
• Nonetheless, recent buying interests have managed to push the stock to trend above all of its key SMAs. Alongside with the formation of a “Golden Cross” a few days ago, we believe that the stock may continue to trend higher.
• Should buying momentum persist, overhead resistance can be found at RM0.650 (R1) and RM0.730 (R2).
• Conversely, support levels can be identified at RM0.470 (S1) and RM0.420 (S2).

Source: Kenanga Research - 24 Jan 2020