MINHO (Not Rated). MINHO has been on a medium-term downtrend since December with its share price declining from a high of RM1.54 to as low as RM1.12 earlier this week. Nevertheless, the share price is beginning to show early signs of bottoming out. Specifically, the MACD has been on a rising trend over the past few months and this indicates that selling pressure is diminishing. Furthermore, MINHO surged 10.0 sen (8.8%) at RM1.24 to close above the 50-day SMA yesterday – a feat not seen since January. The share price is now in the midst of testing its March’s highs at RM1.24. Should this level be taken out next, we would then expect the further gain toward RM1.30 (R1) and RM1.40 (R2) further up. Downside support levels are RM1.18 (S1) and RM1.12 (S2).

DATAPRP (Not Rated). DATAPRP has been consolidating for the past four months since it reached a high level of RM0.25 during late- December last year. Yesterday, the share price garnered investors interest again to surge 2.0 sen (13.3%) to close at RM0.17 on high trading volume. Strong upticks in Stochastic and RSI indicators from their respective oversold region are supportive of the bullish rebound play. If follow-through buying interest persists, we view that the share price could trend higher toward RM0.20 (R1) and possibly RM0.24 (R2) next in the mid-term. Supports are seen at RM0.15 (S1) and RM0.13 (S2) respectively. 

Source: Kenanga Research - 15 Apr 2016