TUNEPRO (Not Rated). TUNEPRO’s share price appears to be playing catch-up following the strong gains in AIRASIA and AAX the past few days. At yesterday’s close, TUNEPRO was up 3.0 sen (2.0%) at RM1.53 on increased trading volume. Chart-wise, TUNEPRO has been trading within a well-defined uptrend channel since January. Yesterday’s bullish move marks a departure from the channel support. At the same time, the MACD has also completed a Signal-line crossover to reflect a build-up in positive momentum. From here, expect TUNEPRO to commence an upswing over the coming weeks with short-term targets at RM1.59 (R1) and RM1.70 (R2) next. The overall technical outlook is deemed bullish unless and until the channel support is violated (currently at RM1.43 (S1)) – which could precipitate a retreat towards RM1.30 (S2) further down.

AEMULUS (Not Rated). AEMULUS rose to a 3-month high yesterday with a 2.0 sen (5.6%) gain to RM0.38. In November last year, AEMULUS’s share price topped out at RM0.615 and commenced a downtrend to a low of RM0.27 in May. The share price has since bottomed out, and is now on the mend. In fact, a “Rounding Bottom” pattern appears to be taking shape on the daily chart. We expect the recovery to be sustainable over the short-medium term, supported by the MACD which has risen above the zero-line. From here, expect a gradual climb towards RM0.40 (R1) and RM0.44 (R2) next. Downside support is located at RM0.35 (S1), failing which, RM0.27 (S2) is next.

Source: Kenanga Research - 15 Jul 2016