KHEESAN (Not Rated)

• KHEESAN rose 1.50 sen (+4.62%) to close at RM0.340 yesterday.
• Chart-wise, the stock began rallying a few days ago. We also note the formation of a “Golden Cross” as its 20-day SMA crossed above the 50-day SMA, signifying strong bullish momentum.
• Coupled with upticks from its momentum indicators, we believe the stock may trend higher.
• From here on, overhead resistance can be found at RM0.500 (R1) and RM0.560 (R2).
• Conversely, downside supports can be identified at RM0.300 (S1) and RM0.230 (S2).

NTPM (Not Rated)

• NTPM gained 3.00 sen (+6.12%) to close at RM0.520 yesterday
• Chart-wise, the stock started trending upwards since mid-March this year, which sees it currently trending above all of its key SMAs.
• Yesterday, the stock closed higher with the formation of a “Marubozu” candlestick which was backed by above-average trading volume. Given the bullish MACD signal, the stock may be poised for more upside.
• Should the bullish momentum persist, overhead resistance is seen at RM0.575 (R1) and RM0.620 (R2).
• Conversely, support levels are identified at RM0.450 (S1) and RM0.400 (S2).

Source: Kenanga Research - 13 May 2020