KOSSAN (Not Rated)

• KOSSAN dropped 5.0 sen (-0.50%) to close at RM4.70 yesterday.
• Chart-wise, the stock has been consolidating since mid-March this year.
• Yesterday, the stock continued to find support at its 50-Day SMA despite strong selling volume. Coupled with an uptick in RSI we believe the stock will trend higher.
• From here on, overhead resistance can be seen at RM5.00 (R1) and RM5.40 (R2).
• Conversely, downside supports can be identified at RM4.50 (S1) and RM4.15 (S2).

BJFOOD (Not Rated)

• BJFOOD gained 3.0 sen (+2.50%) to close at RM1.23 yesterday.
• Chart-wise, the stock has rebounded since mid-March this year.
• Yesterday’s bullish candlestick marked its third bullish candlestick, indicating strong buying momentum. Coupled with a potential bullish MACD crossover, we believe the stock continue its uptrend.
• Should buying momentum persist, overhead resistance is at RM1.30 (R1) and RM1.50 (R2).
• Conversely, support levels can be identified at RM1.15 (S1) and RM1.00 (S2).

Source: Kenanga Research - 24 Mar 2020