MCLEAN (Not Rated)

• MCLEAN rose 3.0 sen (+14.63%) to close at RM0.235 yesterday.
• Chart-wise, the stock has broken above all the key SMAs yesterday, backed by higher-than-average trading volume.
• Coupled with bullish signal from MACD indicators, we believe the stock may trend higher.
• From here on, overhead resistance can be found at RM0.270 (R1) and RM0.310 (R2).
• Conversely, downside supports can be identified at RM0.190 (S1) and RM0.160 (S2).

BURSA (Not Rated)

• BURSA gained 50.0 sen (+8.35%) to close at RM6.49 yesterday
• Chart-wise, the stock continued to close higher and broken above the significant resistance level at RM6.20, backed by higher-than-average trading volume.
• Coupled with bullish signal from MACD and uptick in momentum indicator, we believe the stock could move higher.
• Should the bullish momentum persist, overhead resistance is seen at RM7.00 (R1) and RM7.50 (R2).
• Conversely, support levels are identified at RM6.00 (S1) and RM5.40 (S2).

Source: Kenanga Research - 15 May 2020