SKPRES (Stopped-out @ RM1.22). Recall that on 12th August 2015, we issued a Trading Buy on SKPRES with a TP of RM1.55, and a strict Stop-Loss placed at RM1.22. SKPRES enjoyed a short-lived rally after the report, but in light of extreme volatile market conditions, the stock slipped below its medium-term resistance-turned-support level at RM1.30, and has hit our Stop-loss exit of RM1.22. RSI and Stochastic are also trending downwards, currently trapped in downward trend channels. A swift recapture of the RM1.40 level (+2 regression level) is vital for the share price to break the downtrend. In view of the share price triggering our stop-loss level fueled by volatile market outlook, we are stoppingout on our position on this counter.

SUPERMX (Stopped-out @ RM2.09). Recall, we issued a Trading Buy call with anticipation that the share price will rise to our TP of RM2.56 on the back of a strong rebound play. However, it tumbled to close at RM2.09, after a weak set of 2Q15 quarter results was announced on 26- Aug-15. Chart-wise, the share price has been trending downwards since Aug-15 and dropped below all three SMAs (20, 50 and 100-day SMA) while MACD is trading downwards below its positive signal line. RSI indicator showed that the stock is trending sideways while Stochastic Indicator highlighted its oversold situation, signalling a possible reversal play in share price movement. In view of the downward trending in share price and given the mixed set of indicators, we decided to close our position for SUPERMX as the share price has fell below our stop-loss level of RM2.22. Nevertheless, we might revisit the stock again once the technical outlook turns compelling again.

Source: Kenanga Research - 2 Sep 2015