FRONTKN (Not Rated)

• Yesterday, FRONTKN gained 6.0 sen (+2.90%) to close at RM2.13.
• Chart-wise, the stock has broken above 50-days SMA yesterday, 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 RM2.45 (R1) and RM2.70 (R2).
• Conversely, support levels can be identified at RM1.80 (S1) and RM1.45 (S2).

LUXCHEM (Not Rated)

• LUXCHEM gained 3.5 sen (+7.87%) to close at RM0.480 yesterday.
• Chart-wise, the stock continued to close higher with a long bullish candlestick, 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 RM0.510 (R1) and RM0.550 (R2).
• Conversely, downside supports can be identified at RM0.430 (S1) and RM0.390 (S2).

Source: Kenanga Research - 17 Apr 2020