HAIO (Not Rated). After announcing a better-than-expected earnings report card, HAIO surged 17.0 sen (4.51%) to close at RM3.94. Nonetheless, a ‘Spinning Top’ candlestick was formed during yesterday’s gap up in price action, suggesting that the bulls could have raced ahead too quickly and losing momentum on the stock. With that, a bearish reversal trend could be on the cards. From here, HAIO need to swiftly take out its psychological RM4.00 (R1) with conviction before it could be inspired to gear towards RM4.20 (R2) next. If it fails to take out the R1 level, it could look to retrace towards RM3.87 (S1) with next support level noted at RM3.61 (S2).

TAANN (Not Rated). TAANN has been trending up above its 20-day and 50-day SMA trend lines over the past one-month. Bias is still leaning towards the bullish side, with the MACD histogram still trending positively on its bullish convergence. Key resistance levels are noted at RM3.93 (R1) followed by RM4.12 (R2). Interested investors should take note of its overbought RSI and Stochastic, which indicate that the stock could be primed for a short-term pullback. In that situation, key support levels are noted at RM3.84 (S1) and RM3.70 (S2).

Source: Kenanga Research - 23 Dec 2016