Market Snapshot. Key Resistance level 17,350 (R1) 17,586 (R2) 17,750 (R3) Key Support level 16,830 (S1) 16,589 (S2) 16,353 (S3)

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1 By the Kenanga Research Team l research@kenanga.com.my KLCI BURSA 8-Jul RSI (13D) SMAVG (21D) KLCI 1, ,883.2 FTSE EMAS 13, ,047.7 FTSE Smallcap 18, ,924.8 FTSE MESDAQ 6, ,718.6 KLCI Futures Jul-14 1, ,886.0 Aug-14 1, ,886.4 CPO 2, ,432.3 INDICES 8-Jul RSI (13D) SMAVG (21D) Dow Jones 16, ,887.2 NASDAQ 4, ,377.8 FTSE-100 6, ,793.2 Nikkei , ,231.5 SHCOMP 2, ,050.0 HSI 23, ,249.3 STI 3, ,272.9 KOSPI 2, ,997.3 TWSE 9, ,334.8 JCI 5, ,900.7 SET 1, ,475.3 KLCI COMPONENT STOCKS 8-Jul RSI (13D) SMAV (21D) AMBANK ASTRO AXIATA BAT CIMB DIGI FGV GENTING GENM HlBANK HLFG IHH IOICORP KLCC KLK MAYBANK MAXIS MISC PCHEM PETDAG PETGAS PPB PBBANK RHBCAP SKPETRO SIME TM TENAGA UMW YTL Market Snapshot US Market: Dow Jones Industrial Average (DJIA) How was the market? US stocks skidded off the runway on Tuesday, amid cautious sentiment from investors before the start of earnings season. At market close, the DJIA lost points, or 0.69% to 16, Top 3 Index Laggards: Goldman Sachs (-2.87%), Boeing (-2.3%), Visa Inc. (-1.48%). What is the chart saying? Chart-wise, the DJIA confirmed the bearish reversal trend from the Hanging Man candlestick formed on Monday. All key indicators like MACD, RSI and Stochastic are also on a negative posture, suggesting that buying momentum is diminishing. Thus, we believe that the DJIA is likely to consolidate further in the coming days. Immediate downside support zone remained at the 16,830 to 16,888 level. We reiterate our buy on weakness strategy as we view the recent retracement as a healthy correction while the underlying uptrend remains intact. Bullish Key Resistance level 17,350 (R1) 17,586 (R2) 17,750 (R3) Key Support level 16,830 (S1) 16,589 (S2) 16,353 (S3) Malaysia Market: FBMKLCI Index How was the market? The local benchmark ended on a mixed note, with the index ending at another record breaking high while several profit-taking emerged in selective heavyweight counters. At the closing bell, the FBMKLCI index rose 0.15 points to settle at 1,892 points. Top 3 Index Gainers: CIMB (+1.7pts), MAYBANK (+1.1pts), PBBANK (+0.9pts). What is the chart saying? The general trend of the FBMKLCI remains up, as the key index continues to stay above all the short, mid and long term moving averages. Chart-wise, a Shooting Star candlestick has emerged, suggesting a reversal from its recent uptrend could potentially occur. The MACD indicator has also shown a bearish divergence, supporting the bearish near term outlook. With key indicators like RSI and stochastic still remaining flattish, we believe that the index could stage a retracement soon. We maintain our view that the FBMKLCI could continue trading between 1,875 to 1,900 this week. Sell on Strength (S.O.S.) Key Resistance level 1,892 (R1) 1,900 (R2) 1,925 (R3) Key Support level 1,882 (S1) 1,875 (S2) 1,861 (S3) Highlights / Stock Picks of the Day SKP Resources Berhad (SKPRES) Take Profit Since our Trading Buy call on SKPRES in June, its share price has surged 28.4% with a closing price of 61.0sen yesterday as it has attracted strong investors interest due to its robust fundamentals with capacity expansion plans in place. In less than a month time, it has already surpassed our suggested Take Profit level of 60.0sen. Chart-wise, overall uptrend appeared to be intact with MACD indicators still trending up. Nevertheless, it s Stochastic and RSI indicators are seen to be in the overbought territory. While technical picture remained positive, we would prefer to take a more conservative approach and traders are suggested to take profit at the current price level. We shall revisit this counter again should there is any sign of strong bullish momentum moving forward. Bullish Key Resistance level RM0.66 (R1) RM0.71 (R2) RM0.77 (R3) Key Support level RM0.57 (S1) RM0.53 (S2) RM0.45 (S3) Strategy Take Profit Current Price RM0.61 Narra Industries Berhad (NARRA) Not Rated Narra s share price increased 11sen (+4.21%) yesterday, and has been on the uptrend since early June-14. Chart-wise, a Marobozu like candlestick was formed with high trading volume yesterday, implying a bullish outlook ahead. Key momentum indicators like RSI and Stochastics are also positive, suggesting that buying momentum is strong. Besides, all 3 SMA s are on the uptrend, laying a hand on the bullish biasness. Going forwards, if buying interest persist, we expect share price to rally towards RM2.91 (R1) and possibly RM3.24 (R2) next. Meanwhile, traders should employ a strict stop-loss 3 bids below the share s support level of RM2.54 (S1) at RM2.51. Bullish Key Resistance level RM2.91 (R1) RM3.24 (R2) RM3.57 (R3) Key Support level RM2.54 (S1) RM2.37 (S2) RM2.17 (S3) Strategy Not Rated Current Price RM2.72 PP7004/02/2013(031762) Page 1 of 6

2 Daily Charting - Dow Jones Industrial Average (DJIA) What is the chart saying? Chart-wise, the DJIA confirmed the bearish reversal trend from the Hanging Man candlestick formed on Monday. All key indicators like MACD, RSI and Stochastic are also on a negative posture, suggesting that buying momentum is diminishing. Thus, we believe that the DJIA is likely to consolidate further in the coming days. Immediate downside support zone remained at the 16,830 to 16,888 level. We reiterate our buy on weakness strategy as we view the recent retracement as a healthy correction while the underlying uptrend remains intact. Technical Ratings Resistance 2 17,586 MACD Bullish Resistance 1 17,350 Stochastic Neutral Current Level 16, RSI Neutral Support 1 16,830 Support 2 16,589 Bullish Daily Charting - FBM KLCI index What is the chart saying: The general trend of the FBMKLCI remains up, as the key index continues to stay above all the short, mid and long term moving averages. Chart-wise, a Shooting Star candlestick has emerged, suggesting a reversal from its recent uptrend could potentially occur. The MACD indicator has also shown a bearish divergence, supporting the bearish near term outlook. With key indicators like RSI and stochastic still remaining flattish, we believe that the index could stage a retracement soon. We maintain our view that the FBMKLCI could continue trading between 1,875 to 1,900 this week. Technical Ratings Resistance MACD Bearish Resistance Stochastic Neutral Current Level RSI (14) Neutral Support Support Sell on Strength (S.O.S.) PP7004/02/2013(031762) Page 2 of 6

3 Daily Charting SKP Resources Berhad About the stock: Name : SKP Resources Bhd Bursa Code : SKPRES CAT Code : 7155 Market Cap : Week High/Low : 0.61/ m Avg. Daily Vol. : 8,356,802.0 Free Float (%) : 43.1% Beta vs. KLCI : 0.7 Since our Trading Buy call on SKPRES in June, its share price has surged 28.4% with a closing price of 61.0sen yesterday as it has attracted strong investors interest due to its robust fundamentals with capacity expansion plans in place. In less than a month time, it has already surpassed our suggested Take Profit level of 60.0sen. Chart-wise, overall uptrend appeared to be intact with MACD indicators still trending up. Nevertheless, it s Stochastic and RSI indicators are seen to be in the overbought territory. While technical picture remained positive, we would prefer to take a more conservative approach and traders are suggested to take profit at the current price level. We shall revisit this counter again should there is any signs of strong bullish momentum moving forward. Key Support & Resistance level Resistance : RM0.66 (R1) RM0.71 (R2) RM0.77 (R3) Support : RM0.57 (S1) RM0.53 (S2) RM0.45 (S3) : Bullish What does indicator says: MACD : Bullish Stochastic : Overbought RSI : Overbought Trend : Bullish What should you do: Strategy : Take Profit Current Share Price : RM0.61 Fundamental Call KNK : N.A. Consensus : 0.62 PP7004/02/2013(031762) Page 3 of 6

4 Daily Charting Narra Industries Berhad About the stock: Name : Narra Industries Berhad Bursa Code : NARRA CAT Code : 5000 Market Cap : Week High/Low : 2.76/ m Avg. Daily Vol. : 339,646.9 Free Float (%) : 26.0% Beta vs. KLCI : 3.3 Narra s share price increased 11sen (+4.21%) yesterday, and has been on the uptrend since early June-14. Chart-wise, a Marobozu like candlestick was formed with high trading volume yesterday, implying a bullish outlook ahead. Key momentum indicators like RSI and Stochastics are also positive, suggesting that buying momentum is strong. Besides, all 3 SMA s are on the uptrend, laying a hand on the bullish biasness. Going forwards, if buying interest persist, we expect share price to rally towards RM2.91 (R1) and possibly RM3.24 (R2) next. Meanwhile, traders should employ a strict stop-loss 3 bids below the share s support level of RM2.54 (S1) at RM2.51. Key Support & Resistance level Resistance : RM2.91 (R1) RM3.24 (R2) RM3.57 (R3) Support : RM2.54 (S1) RM2.37 (S2) RM2.17 (S3) : Bullish What does indicator says: MACD : Bullish Stochastic : Overbought RSI : Bullish Trend : Bullish What should you do: Strategy : Not Rated Current Share Price : RM2.72 Fundamental Call KNK : N.A. Consensus : N.A PP7004/02/2013(031762) Page 4 of 6

5 Unrealised Positions (July 2014) No CATS Reward/ Dividend Gain/ Gain/ Issued Price Target Stop- Upside Downside Last Stock Name Risk Received Date ID Price Loss Potential Risk Price Loss Code Ratio since ID (incl. Div.) Loss Rating Comment/ Action RM RM (%) (%) (x) RM RM RM (%) MUDA HOLDINGS BERHAD 24-Apr % % % BUY VITROX CORP BHD 23-May % 21.72% % BUY INARI AMERTRON BHD 19-Jun % -4.32% % BUY KAMDAR GROUP M BHD 3-Jul % % % BUY - Simple Average 27.41% -2.06% % *Tracker does not include Non-Rated positions Realised Positions (July 2014) No CATS Dividend Gain/ Gain/ Issued Buy Price since Price change since Sell Stock Name Sell Date Date Price Buy Date Buy Date (%) Price Code Receive d since ID Loss (incl. Div.) Loss Rating Comment/ Action (H) (L) (H) (L) RM RM RM (%) ECS ICT BHD 24-Jan % -5.08% 3-Jul % Take Profit RM1.43 TP surpassed SKP RESOURCES BHD 17-Jun % -2.08% 8-Jul % Take Profit RM0.60 TP met Simple Average 25.41% -3.58% 24.15% PP7004/02/2013(031762) Page 5 of 6

6 Basic Technical Terms: Reversal Candlesticks Patterns Description Doji Dragonfly Doji (Bullish) Gravestone Doji (Bearish) Engulfing Pattern Hammer (Bullish) Shooting Star (Bearish) Inverted Hammer (Bullish) Hanging Man (Bearish) Harami Harami Cross Dojis form when a security's open and close are virtually equal. The length of the upper and lower shadows can vary, and the resulting candlestick looks like, either, a cross, inverted cross, or plus sign. Doji convey a sense of indecision or tug-of-war between buyers and sellers. A reversal pattern that can be bearish or bullish, depending upon whether it appears at the end of an uptrend (bearish engulfing pattern) or a downtrend (bullish engulfing pattern). The first day is characterized by a small body, followed by a day whose body completely engulfs the previous day's price action. Hammer candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. This appears in a downtrend. In contrast, the Shooting Star pattern appears in an uptrend. It opens higher, trades much higher, then closes near its open. It looks just like the Inverted Hammer except that it is bearish. The Inverted Hammer is a single-day bullish reversal pattern. In a downtrend, the open is lower, then it trades higher, but closes near its open price, therefore looking like an inverted lollipop. Hanging Man candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. The Harami is a two-day pattern that can be bullish or bearish. It has a small body day completely contained within the range of the previous body, and is the opposite colour. The Harami Cross is similar to the Harami. The difference is that the last day is a Doji. Marubozu A Marubozu candlestick has no shadow extending from the body at either the open, the close or at both. Morning Doji Star (Bullish) Evening Doji Star (Bearish) Spinning Top A Morning Doji Star (Evening Doji Star) is a three-day candlestick bullish (bearish) reversal pattern - a long-bodied black (white) candle extending the current downtrend, a short middle candle that gapped down (up) on the open, and a long-bodied white candle that gapped up (down) on the open and closed above (below) the midpoint of the body of the first day. Spinning Tops are candlestick lines that have small bodies with upper and lower shadows that exceed the length of the body. They are similar to the Doji candlesticks, and signal indecision. Source: Various Common Chart Patterns Reversal Patterns Inverted Head & Shoulders (Bullish) Head & Shoulders (Bearish) Wedge Reversal (Bullish/ Bearish) Double Top (Bearish) Double Bottom (Bullish) Continuation Patterns Symmetrical Triangle (Bullish/ Bearish) Ascending Triangle (Bullish) Channels (Bullish/ Bearish) Flags (Bullish/ Bearish) Pennant (Bullish/ Bearish) Source: Various This document has been prepared for general circulation based on information obtained from sources believed to be reliable but we do not make any representations as to its accuracy or completeness. Any recommendation contained in this document does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may read this document. This document is for the information of addressees only and is not to be taken in substitution for the exercise of judgement by addressees. Kenanga Investment Bank Berhad accepts no liability whatsoever for any direct or consequential loss arising from any use of this document or any solicitations of an offer to buy or sell any securities. Kenanga Investment Bank Berhad and its associates, their directors, and/or employees may have positions in, and may effect transactions in securities mentioned herein from time to time in the open market or otherwise, and may receive brokerage fees or act as principal or agent in dealings with respect to these companies. Published and printed by: KENANGA INVESTMENT BANK BERHAD (15678-H) 8th Floor, Kenanga International, Jalan Sultan Ismail, Kuala Lumpur, Malaysia Telephone: (603) Facsimile: (603) Website: Chan Ken Yew Head of Research PP7004/02/2013(031762) Page 6 of 6

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