HSSEB (Not Rated). HSSEB rose 6.0 sen (6.45%) yesterday to finish at the day’s high of RM0.99. Chart-wise, the share price has been on a healthy short and long term uptrend since the start of the year, having more than doubled from a low of RM0.39 to a high of RM1.02 earlier this month. Recently, the share price underwent a mild downward consolidation phase towards RM0.88. However, the share price is now poised to resume its prior uptrend after a breakout from its consolidation phase on increased volume. From here, expect the share price to retest the RM1.00/RM1.02 (R1) resistance before charting further gains towards RM1.17 (R2). Any weakness towards the RM0.88 (S1) support may be viewed as a buying opportunity, although a break below would be a hugely negative with next major support only present at RM0.75 (S2).

JOHOTIN (Not Rated). Meanwhile, JOHOTIN notched a fresh intra-day high of RM1.53 before ending the day up 5.0 sen (3.4%) at RM1.50. From a charting perspective, JOHOTIN’s short- and long-term trends are positive with the key SMAs in a Golden Crossover since last year. The momentum indicators such as the MACD, RSI and Stochastic are also in a bullish state, indicating that the bulls remain in control. With February’s high of RM1.48 now taken out, JOHOTIN has a clear path ahead towards RM1.69 (R1) and possibly RM1.81 (R2). Downside support levels include the resistance-turned-support of RM1.48 (S1) and RM1.30 (S2) further below.

Source: Kenanga Research - 26 Apr 2017