WASEONG (Not Rated)

• WASEONG climbed 10.0 sen (7.94%) yesterday to reach a 30-month high of RM1.36.
• The move showed strong buying interest as supported by the higher-than-average trading volumes coupled with the long white-candlestick formed.
• The technical picture is positively biased, with “golden crossover” of key SMAs, coupled with uptrending display of MACD.
• Share is in the midst of retesting its immediate resistance level at RM1.36 (R1). A decisive break above R1 will likely see further advancement towards RM1.50 (R2). Downside supports can be found at RM1.21 (S1) and RM1.13 (S2).

SUPERMX (Not Rated)

• SUPERMX jumped 9.0 sen to RM 2.39 (3.9%) yesterday, accompanied by strong trading volumes.
• Overall technical outlook is positively biased, with key indicators in positive states – i.e. “golden crossover” of key SMAs, and uptrending display of MACD.
• From here, share is in the midst of retesting key resistance of RM2.38 (R1).
• Keep close watch-out for coming few days, with decisive breakout of R1 to see likely movement towards RM2.54 (R2).
• Downside support levels can be identified at RM2.22 (S1) and RM2.12 (S2).

Source: Kenanga Research - 18 Jan 2018