MAGNI (Not Rated)

• MAGNI gained 9.0 sen (+4.33%) to close at RM2.17 yesterday.
• Chart-wise, the stock has broken above all the key SMAs yesterday, backed by higher-than-average trading volume.
• Coupled with bullish crossover from MACD indicator, we believe the stock could move higher.
• Should the stock continue heading upward, overhead resistance is seen at RM2.50 (R1) and RM2.70 (R2).
• Conversely, support levels can be identified at RM1.90 (S1) and RM1.70 (S2).

PWROOT (Not Rated)

• PWROOT gained 10.0 sen (+3.92%) to close at RM2.65 yesterday.
• Chart-wise, the stock continued to close higher after breaking above previous high at RM2.40 few days ago, supported by higher-than-average trading volume.
• Coupled with bullish signal from MACD indicator, we believe the stock could trend higher.
• Should the stock continue heading upward, overhead resistance is seen at RM2.90 (R1) and RM3.15 (R2).
• Conversely, support levels can be identified at RM2.40 (S1) and RM2.20 (S2).

Source: Kenanga Research - 3 Jun 2020