LEONFB (Not Rated)

• LEONFB jumped 5.0 sen to RM0.970 (5.4%) yesterday, accompanied by high trading volumes of 3.0m – triple its average volume of 0.9m.
• Chart indicates possible continuation of long-term uptrend post January pullback.
• Momentum indicators are in positive state with MACD leading its Signal Line.
• The share is now in the midst of retesting its all-time high of RM0.985 (R1).
• Balance of evidence is supportive of a break above R1, which would then signal a continuation of its long term uptrend.
• Further level to target includes RM1.11 (R2) while any weakness towards supports level of RM0.910 (S1) and RM0.86 (S2) may be viewed as potential entry points.

MAGNUM (Not Rated)

• MAGNUM gained 6.0sen (3.12%) to end at RM1.98 on strong trading volume.
• Technical picture looks encouraging with the share slowly escaping from the consolidation phase that has lasted for 9 months.
• The white ‘Marubozu’ candlestick formed yesterday signal strong buying interest for this share.
• Momentum indicator is in a bullish convergence and the share seems to be on track for a bullish run.
• Expect follow-through buying that will lead the share price to RM2.02 (R1) with R2 being placed at RM2.12 if it manages to break past R1. Any downside bias is likely limited at RM1.95 (S1) and RM1.90 (S2), where investors may position to enter.

Source: Kenanga Research - 28 Feb 2018