QL (Not Rated)

• Yesterday, QL gained 22.0 sen (+2.77%) to close at RM8.17.
• Chart-wise, the stock has broken above all the key SMAs line, backed by higher-than-average trading volume.
• Coupled with a bullish MACD signal and uptick in momentum indicator, we believe the stock could trade higher.
• Resistance levels can be found at RM8.30 (R1) and RM8.60 (R2).
• Conversely, support levels can be identified at RM7.90 (S1) and RM7.50 (S2).

BURSA (Not Rated)

• BURSA gained 33.0 sen (+6.15%) to close at RM5.70 yesterday.
• Chart-wise, the stock has broken above the all the key SMAs yesterday, supported by higher-than-average trading volume.
• Coupled with bullish signal from MACD indicator, we believe the stock could move higher.
• From here on, overhead resistance can be seen at RM6.00 (R1) and RM6.50 (R2).
• Conversely, downside supports can be identified at RM5.20 (S1) and RM4.90 (S2).

Source: Kenanga Research - 16 Apr 2020