SUPERLN (Not Rated). SUPERLN’s share price rose 11.0 sen (5.7%) to close at RM2.03 yesterday, after the company announced FY17 earnings, which jumped 42.3% YoY. Chart-wise, SUPERLN’s short-to-longer term trend is bullish with the share price firmly above all-three keys SMAs. With yesterday’s gains, the share price has now broken out of its brief two week pause to signal a continuation of its uptrend. Concurrently, the MACD has crossed above the Signal-line, while the RSI and Stochastic indicators have both experienced an uptick. Hence, investors can expect the share price to continue its upwards climb over the coming days. Overhead resistance levels to target are RM2.17 (R1) and RM2.29 (R2) while support levels are RM1.98 (S1) and RM1.86 (S2).

GHLSYS (Not Rated). Yesterday, GHLSYS rose 7.0 sen (4.8%) to close at RM1.54. Trading volume is considered high, with 4.8m shares exchanging hands, roughly 4x compared to its 20-day SMA volume of 1.2m shares. Chart-wise, yesterday’s move can be interpreted as a breakout from its channel-consolidation trend since early-April. Likewise, both key indicators – the MACD and RSI, have also displayed signs of a bullish convergence throughout the month of June, seen by the gradually higher troughs that coincide with the uptrend movement of the share price. From here, we expect the share to trend higher towards its resistance at RM1.61 (R1). Breaking out of that, the next resistance is placed at its historical high of RM1.87 (R2). An immediate support can be identified at RM1.46 (S1), with another lower support at RM1.33 (S2).

Source: Kenanga Research - 22 Jun 2017