SCGM (Not Rated)

• SCGM rose 10.0 sen (+6.62%) to close at RM1.61 yesterday.
• Chart-wise, the stock has experienced a decline early-February this year and found support at its 100-Day SMA before resuming its uptrend.
• Yesterday bullish “Marubozu” candlestick broke through the 50-Day SMA, indicating strong buying interest. Given the uptick in key technical indicators and bullish MACD cross over, we expect the uptrend to persist.
• Should the buying momentum persist, key resistance levels are seen at RM1.70 (R1) and RM1.80 (R2).
• Conversely, key support levels can be seen at RM1.50 (S1) and RM1.40 (S2).

GDB (Not Rated)

• GDB was up by 6.5 sen (+9.70%) to finish at RM0.735 yesterday.
• Chart-wise, the stock has been trending upwards since last year September, backed by strong buying momentum.
• Yesterday candlestick continues to close higher with the formation of a “Marubozu” candlestick, signifying strong buying interest. Given that all key SMAs appear to be healthy, we believe the buying momentum would persist.
• From here on, resistance can be identified at RM0.785 (R1) and RM0.820 (R2).
• Conversely, its support levels can be identified at RM0.700 (S1) and RM0.625 (S2).

Source: Kenanga Research - 18 Feb 2020