HIAPTECK (Not Rated)

• HIAPTECK rose 2.5 sen (5.3%) to close at RM0.495.
• Yesterday’s strong move marked the second breakthrough from the RM0.485 resistance level.
• Key indicators like RSI and Stochastics are beginning to inflect away from the oversold zone which signal a return of buying interest.
• From here, expect a move upwards towards RM0.530 (R1) over the coming weeks to resume its uptrend seen earlier in Dec - Jan, before trending higher towards resistance level of RM0.558 (R2).
• Immediate downside support can be found at resistance-turned-support level (S1) RM0.485 and RM0.458 (S2) stronger support.

AEMULUS (Close Position @ RM0.485)

• We bring closure to our "Trading Buy" recommendation on AEMULUS amid on-going rationalisation of our technical portfolio.
• We first recommended the stock on the 10 November 2017 though AEMULUS has generally been stuck within a sideways mode. Besides, in this recent month, the stock broke below its key support at RM0.542 and capitulated to yesterday's closing price of RM0.485 (-4.9%). As a result, the technical outlook has deteriorated, with trading volumes tapering and MACD turning negative.
• From here, likely supports are RM0.413 (S1) and RM0.334 (S2) while overhead resistances are RM0.542 (R1) and RM0.621 (R1).

Source: Kenanga Research - 15 Feb 2018