SEACERA (Not Rated). SEACERA surged 7.0 sen (9.72%) to close above its 20-day and 50-day SMAs at RM0.79 yesterday, staging a technical rebound play from its 5-month downtrend pattern. Indicator-wise, the MACD trend line has broken out from its downtrend resistance trend line, while the strong hook-up by RSI indicator is reinforcing the case for a technical rebound play. If there is followthrough buying, SEACERA could set sights at RM0.84 (R1) and possibly RM0.92 (R2) next if it breaches the R1 level convincingly. However, should SEACERA fail to maintain its bullish momentum in coming days, yesterday’s price action would become a ‘dead cat bounce’ instead and result in the share price consolidating towards RM0.75 (S1)/RM0.70 (S2).

HAPSENG (Not Rated). After breaking out from the psychological resistance-turned-support level of RM8.00 (S1), HAPSENG has been inching up gradually over the past few weeks. The share price resumed its uptrend trajectory by surging 52.0 sen (6.36%) to close at RM8.70 yesterday. MACD trend line is converging bullishly away from its zero-line to portray a bullish outlook ahead. RSI and Stochastic are also lending hands on the bullish-bias outlook for the immediate term, albeit their overbought conditions at this juncture. From here, HAPSENG could possibly gear towards RM8.90 (R1) and possibly RM9.30 (R2) in the near-to-mid-term. Downside supports are located at RM8.00 (S1) and RM7.63 (S2).

Source: Kenanga Research - 28 Dec 2016