GDEX (Not Rated). GDEX saw its share price gain 9 sen (3.0%) to RM3.05 yesterday. Earlier in March, the share price broke out of its sideways range of RM1.70 and subsequently rallied to as high as RM3.28. Over the past two weeks, the share price has been consolidating sideways. However, the share price is now poised for an uptrend resumption following two straight days of solid gains – which resulted in a consolidation breakout at RM2.90. Similarly, the key momentum indicators such as the RSI and Stochastic have both hooked inflected upwards. From here, we expect the share price to retest its recent high of RM3.28 (R1), before a possible move higher towards RM3.60 (R2). Downside support levels are RM2.80 (S1) and RM2.73 (S2) below

MUIIND (Not Rated). MUIIND’s share price gained by as much as 2.5 sen before ending the day 1.5 sen (7.3%) higher at
RM0.22. Previously, the share price had been on a mild uptrend since the start of the year. However, a surge in buying
interest in early-April drove the share price to a high of RM0.28. Although the past month has seen a retreat back to
RM0.20 recently, MUIIND’s overall uptrend remains largely intact. In fact, yesterday’s bullish move signals yet another
consolidation breakout. Coupled with the RSI and Stochastic indicator which have hooked up into bullish conditions, we
reckon that follow-through momentum could potentially drive the share price higher towards RM0.24 (R1) and RM0.26 (R2)
next. Downside support levels are RM0.20 (S1), failing which RM0.16 (S2) is located further down.
 

Source: Kenanga Research - 18 May 2017