APFT (Not Rated). APFT’s medium term uptrend stretches back to May 2015 as investors looked forward to the potential earnings boost from  its Oil & Gas venture. Yesterday, the share price closed 2 sen higher at RM0.255 with strong trading volume to signal a continuation of its uptrend  after  a  rebound  from  the  trend-line  support.  Technically,  the  14-day  Stochastic  indicator  has  hooked  up  from  oversold  territory  to  reflect  an  increase in buying momentum. From here, we expect the share price to move higher towards the 20-day SMA at 27.5 sen (R1) before staging a  retest of the 34 sen (R2) high registered last month. Meanwhile downside appears limited with support levels at the 100-day SMA of 23.5 sen (S1)  and trend-line at 21.5 sen (S2). 

MMODE (Not Rated). MMODE has been on an uptrend channel since August following a stronger quarterly result and comments that there will  be high demand  in mobile  internet and higher penetration of smartphones  in  the country. After a brief  retreat  to  the channel support  in  recent  weeks,  the share price appears  to have marked a bottom.  In  fact,  the share price ended  the day at 50 sen  (+2.5 sen) and  is now poised  for a  rebound. From here, we expect a  continuation of  the uptrend  towards  the November high of 54  sen  (R1) and possibly  further up  towards  the  channel resistance of 55-56 sen (R2). Immediate support is provided at the recent low of 47 sen (S1) and 45 sen (S2) where the 50-day SMA is  located.

Source: Kenanga Research - 3 Dec 2015