BJASSET (Not Rated)

• BJASSET broke out from its downtrend line yesterday to finish at RM0.480, 3.5 sen higher (7.8%).
• Series of white candlesticks in the past 7 days coupled with yesterday Marubozu candlestick display a more positive technical picture.
• MACD-Zero Line crossover alongside rising trading volume within past few days are supportive of follow through buying.
• Based on rising share price and healthy volumes of late, expect a retest of December's high at RM0.530 (R1). A breakout at that level would then signal a long term bullish reversal at play with further resistance to target at RM0.585 (R2).
• Support can be identified at RM0.460 (S1), a resistant-turned-support level, with another stronger support at RM0.400 (S2).

FPI (Not Rated)

• FPI climbed 8.0 sen (4.30%) to close at RM1.94 on higher than average trading volume.
• The share had been consolidating over the past two months having experienced a rally for 6 months prior.
• However, with yesterday's move, we see an early attempt to punch out of this congestion phase.
• Momentum indicators have shown some improvement in recent weeks and should the share price manage a break above the RM2.00 (R1) key resistance, the technical picture would then signal an uptrend resumption towards RM2.15 (R2) next.
• On the other hand, downside support can be found at RM1.90 (S1) and RM1.82 (S2) next.

Source: Kenanga Research - 27 Feb 2018