APOLLO (Take Profit @ RM6.26). With the broader market becoming increasingly jittery over the past few days, we think it is prudent to take some chips off the table. While our previous trading buy call on APOLLO has produced a marginal gain of 16.0 sen (2.6%) from RM6.10 (report dated 11th Feb), its technical picture is no longer compelling for the short-term. In particular, the MACD has been trending lower over the past few weeks even as the share price continued to make fresh highs. This indicates that buying momentum is waning. From here, expect bias to be to the downside towards RM6.15 (S1) and RM6.00 (S2) next. Overhead support levels are now RM6.32 (R1) and RM6.50 (R2). Take Profit.

SUNCON (Not Rated). SUNCON recently garnered keen interest, as the share price rallied 7.0 sen (4.5%) to break out from its congestion zone (RM1.45-RM1.56) to close at RM1.63. Indicator-wise, the MACD histogram is portraying a bullish convergence to indicate a positive outlook ahead. RSI indicator has also hooked up to lend a hand on the bullish-bias outlook by indicating a strong pick-up in buying interest on the stock. If follow-through buying interest persist, we reckon that the share price could look to trend towards its immediate resistance level of RM1.68 (R1) and possibly RM1.74 (R2) next. Immediate supports are noted at RM1.56 (S1) followed by RM1.45 (S2).

Source: Kenanga Research - 25 Mar 2016