DAIBOICI (Not Rated)

• DAIBOICI gained 9.0 sen (+3.8%) to close at RM2.45 yesterday.
• Chart-wise, the stock has been on an uptrend since late March.
• Yesterday’s bullish candlestick continued to close higher, backed by above average trading volume. Coupled with an uptick in RSI and a potential “Bullish MACD Crossover”, we expect the stock to trend higher.
• With that, overhead resistance can be seen at RM2.60 (R1) and RM2.80 (R2).
• Conversely, key support levels can be seen at RM2.20 (S1) and RM2.00 (S2).

MYEG (Not Rated)

• MYEG gained 3.0 sen (+2.0%) to end at RM1.50 yesterday.
• Chart-wise, the stock has continued its uptrend from early Jun after breaking above its 20-Day SMA.
• Yesterday’s candlestick closed higher with the formation of a “Hammer”, indicating strong buying momentum. Should the stock continue finding support at its 20-Day SMA, we believe the uptrend would persist.
• From here on, key resistance levels can be found at RM1.70 (R1) and RM1.80 (R2).
• Conversely, downside supports can be identified at RM1.30 (S1) and RM1.15 (S2).

Source: Kenanga Research - 23 Jun 2020