BAUTO (Not Rated)

• BAUTO rose 10.0 sen (+6.58%) to close at RM1.62 yesterday.
• Chart-wise, the stock continued to close higher after breaking above all the SMA lines, backed by higher-than-average trading volume.
• Given the bullish signal from MACD, we believe that there may be more upside.
• From here, immediate resistance levels can be identified at RM1.90 (R1) and RM2.10 (R2).
• Conversely, support levels can be found at RM1.35 (S1) and RM1.20 (S2).

MBL (Not Rated)

• Yesterday, MBL gained 7.0 sen (+4.90%) to close at RM1.50.
• Chart-wise, the stock continued to trend within the rising channel and broken above the significant resistance level yesterday, supported by higher-than-average trading volume.
• Coupled with bullish signal from MACD indicator, we believe the stock could be poised for more upside.
• Should the bullish momentum persist, overhead resistance can be found at RM1.63 (R1) and RM1.71 (R2).
• Conversely, support levels can be identified at RM1.36 (S1) and RM1.26 (S2).

Source: Kenanga Research - 12 Jun 2020