COMFORT (Not Rated)

• COMFORT gained 7.00 sen (+5.51%) to close at RM1.34 yesterday.
• Chart-wise, the stock has been on an uptrend since late-March.
• Yesterday’s candlestick closed higher backed by above average trading volume. Coupled with an uptick in key technical indicators a bullish MACD, we expect the share to continue to trend higher.
• From here on, overhead resistance can be seen at RM1.45 (R1) and RM1.60 (R2).
• Conversely, downside supports can be identified at RM1.20 (S1) and RM1.00 (S2).

NOVA (Not Rated)

• NOVA gained 4.5 sen (+8.26%) to close at RM0.590 yesterday.
• Chart-wise, the stock has been recovering since mid-March this year.
• Yesterday’s surge in buying volume led to the formation of a “Marubozu” candlestick. Given the uptick in its RSI and keySMAs, we thus expect the uptrend to persist.
• Should the stock head north, overhead resistance is seen at RM0.635 (R1) and RM0.680 (R2).
• Conversely, support levels can be identified at RM0.465 (S1) and RM0.360 (S2).

Source: Kenanga Research - 28 Apr 2020