FRONTKN (Not Rated)

• Yesterday, FRONTKN lost 9.0 sen (-5.45%) to close at RM1.56.
• Chart-wise, the share has been on stable uptrend since the second half of 2018.
• Despite yesterday’s bearish candlestick, the share’s overall uptrend remains intact as the share persists to trade securely above its key SMAs.
• With no signs of overbought from its key momentum indicators, we expect the share to trend upwards to test its resistance levels at RM1.75 (S1) and RM2.10 (S2).
• Conversely, support levels can be identified at RM1.15 (S1) and RM1.00 (S2).

VS (Not Rated)

• VS was down by 1.0 sen (-0.83%) to end at RM1.20 yesterday.
• Chart-wise, the share has been trending upwards steadily since the end of last year.
• Albeit with yesterday’s decline, we note that the share has been finding comfort on its 20-day SMA, which has been providing a sturdy support to the share.
• Should bullish momentum persist, it is expected that the share to test its immediate resistance level of RM1.39 (R1), where a break above would see the share head towards RM1.74 (R2).
• Conversely, support levels can be identified at RM0.955 (S1) and RM0.800 (S2).

Source: Kenanga Research - 1 Aug 2019