FGV (Not Rated)

• FGV rose 9.5 sen (+10.16%) to close at RM1.03 yesterday.
• Chart-wise, the stock continued to close higher after breaking above the “Flag” pattern few days ago, 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 RM1.12 (R1) and RM1.25 (R2).
• Conversely, downside supports can be identified at RM0.900 (S1) and RM0.720 (S2).

RSAWIT (Not Rated)

• RSAWIT gained 3.5 sen (+12.73%) to close at RM0.310 yesterday
• Chart-wise, the stock continued to close higher after breaking above all the key-SMAs line, 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 RM0.355 (R1) and RM0.410 (R2).
• Conversely, support levels are identified at RM0.260 (S1) and RM0.190 (S2).

Source: Kenanga Research - 20 May 2020