HIAPTEK (Not Rated). HIAPTEK’s share price rose to the highest level in a year, gaining 3.5 sen (10.1%) yesterday to RM0.38. Trading volume spiked to seven-fold the daily average, with 53.7m shares changing hands in yesterday’s trade. Chart-wise, HIAPTEK trend is positive over the short and longer term. With the key SMAs in a “Golden Crossover” and momentum indicators in a bullish state, investors can expect the share price to be positively biased. From here, expect a retest of the RM0.41 (R1) resistance, where the 78.6% Fibonacci Retracement level is located, beyond which RM0.47 (R2) should present a stronger resistance level. Downside support levels are RM0.36 (S1) and RM0.32 (S2).

MNRB (Not Rated). Yesterday, MNRB’s share price rose 15.0 sen (5.8%) to close at its intra-day high of RM2.70. Trading volume was particularly high, with 1.57m shares exchanging hands, nearly 6x its daily average of 256k shares. Yesterday's move marks a decisive breakout from its strong resistance range of RM2.50-2.55, which it had previously tested throughout May to June. Indicator-wise, the MACD is showing positive signs with an upward crossover above its Signal and the zeroline. From here, we expect the share to trend higher towards its resistance placed at its YTD-high of RM2.83 (R1). A decisive breakout beyond that would see another resistance higher up at RM3.11 (R2). An immediate resistance-turnedsupport can be identified at the aforementioned RM2.50-2.55 range (S1), with another lower support at around the RM2.36- 2.37 range (S2).

Source: Kenanga Research - 21 Jun 2017