SCICOM (Not Rated)

• SCICOM surged 4.0 sen (2.41%) yesterday to reach RM1.70
• Share appears to have bottomed-out last month, following a half-year downtrend.
• Technical outlook is turning positive with the 20-day SMA having just crossed above the 50-day SMA and the MACD displaying bullish convergence.
• Expect a gradual recovery towards RM1.75 (R1) with further advancement at RM1.86 (R2). Firm downside support level can be found at RM1.58 (S1) where investors are likely to bottom-fish.

GENETEC (Not Rated)

GENETEC jumped 13.0 sen (11.30%) yesterday to reach RM1.28.

• The share price had generally been trending sideways since mid-November 2017.
• Yesterday’s move signals a decisive break out of its consolidation phase at RM1.15 level before it took out level of RM1.26.
• Bullish short-to medium term technical outlook was backed by positive momentum indicator such stronger volume and uptick in MACD indicator
• Expect follow-through buying momentum post breakout towards RM1.36 (R1) and RM1.45 (R2) next.
• Downside support levels can be found at RM1.15 (S1) and RM1.10 (S2).

Source: Kenanga Research - 30 Jan 2018