FLBHD (Not Rated). Yesterday, FLBHD’s share price rose 4 sen (+2.3%) to finish at a 5-month high of RM1.76. Consequently, the share price appears to have broken out of its sideways trend between RM1.42-RM1.70. At the same time, the 20-day SMA has just completed a “Golden Crossover” with the 50-day SMA to signal the start of a new uptrend. Expect the share price to be biased to the upside from here, with overhead resistances RM1.84 (R1) and RM1.95 (R2). Investors looking to buy into the stock may do so now, or on any weakness towards the RM1.70 (S1) resistance-turned-support. Failing which, further support is located just below at RM1.60 (S2).

HAIO (Not Rated). HAIO rose to a fresh all-time high yesterday, after the share price climbed 7 sen (+1.7%) to RM4.10. Earlier in December, the company announced its 1H17 earnings, which showed a 66.8% YoY increase – resulting in the share price gapping up at the opening the next day. However, it wasn’t until this Monday that the share price finally broke past the key RM4.00 psychological mark. With the bullish move sustaining for second straight day yesterday, the share price is signalling a continuation of its prior uptrend. From here, HAIO has a clear path towards the next resistance at RM4.27 (R1) and RM4.50 (R2). Meanwhile, downside support is now at RM4.00 (S1) and RM3.85 (S2)

Source: Kenanga Research - 11 Jan 2017