FGV (Not Rated)

• FGV rose 8.0 sen (4.1%) to close at RM2.03, accompanied by trading volume of 13.1m – above average volume of 10.3m.
• Amidst past two consecutive days of bullish price performance, the share has penetrated through RM2.00 psychological level, which coincides with 76.4% level of Fibonacci Retracement.
• Technical outlook is turning positive with MACD-Signal Line crossover and upticks in other oscillators.
• Foresee follow-through buying towards RM2.18 (R1) and RM2.33 (R2) further up.
• Support levels can be found at RM1.92 (S1) and RM1.85 (S2).

SUPERLN (Not Rated)

• SUPERLN surged 17.0 sen (11.64%) to close at RM1.63 on stronger trading volume at 1.9m shares.
• Yesterday’s bullish candlestick indicates that the share price has potentially bottomed-out from its 5-month major downtrend.
• Positive momentum indicators such as upticks on both RSI and Stochastic as well as MACD-signal line in crossover state to signal recovery play on the cards.
• From here, key resistances to look out for are RM1.67 (R1) and RM1.92 (R2). Conversely, immediate support can be identified at RM1.46 (S1) and RM1.28 (S2) further down.

Source: Kenanga Research - 21 Feb 2018