PPB (Not Rated)

• PPB dropped 16.0sen (-0.89%) to end the day at RM17.92.
• Based on the chart, the longer-term uptrend is still firmly intact despite today’s loss.
• Yesterday’s drop is viewed as a good accumulation point for investors as the momentum indicators are still in healthy mode and the share is leading key SMAs upward.
• Expect the share to continue heading towards RM18.70 (R1) with further resistance found at RM19.93 (R2). Any downside movement is likely temporarily with a firm support level found at RM17.47 (S1). A drop below RM16.70 (S2), however, would be highly negative.

SSTEEL (Not Rated)

• SSTEEL slipped 7.0 sen (3.4%) to close at RM1.97.
• From an intraday perspective, nibbling activities in the last trading hour provided some price support forming a long bottom shadow candlestick.
• Display of MACD divergence suggesting that price may be in the midst of bottoming out. S1 should offer some support at RM1.95. However, bargain hunters may consider positioning for a rebound closer to the S2 at RM1.80.
• Expect rebound play with price advancement towards RM2.05 (R1) and RM2.20 (R2) further up.

Source: Kenanga Research - 8 Mar 2018