EKOVEST (Not Rated)

• EKOVEST rose 3.0 sen (+4.62%) to close at RM0.680 yesterday.
• Chart-wise, the stock has been undergoing a series of sell-down since mid-December last year. Despite that, the past two days’ bullish candlesticks may be signalling a potential bullish reversal.
• Coupled with upticks from its momentum indicators, we believe that the stock may continue to trend higher.
• Should the bullish momentum persists, its key resistance levels are seen at RM0.725 (R1) and RM0.785 (R2).
• Conversely, key support levels can be seen at RM0.500 (S1) and RM0.435 (S2).

UWC (Not Rated)

• UWC was up by 13.0 sen (+3.29%) to finish at RM4.08 yesterday.
• Chart-wise, the stock has been on a steady uptrend since September last year, which see it currently trending above all of its key SMAs.
• While its momentum indicators are trading near the overbought levels, we believe that there may be more upside as the indicators are still showing upticks.
• From here on, resistance can be identified at RM4.30 (R1) and RM4.60 (R2).
• Conversely, its support levels can be identified at RM3.50 (S1) and RM3.00 (S2)

Source: Kenanga Research - 5 Feb 2020