MAHSING (Not Rated)

• MAHSING gained 5.0 sen (5.0%) to close at RM1.05.
• Underlying trend still remains bearish since the sell-down in early February.
• However, the formation of a Doji on Tuesday, coupled with yesterday’s white ‘Marubozu, backed by strong trading volumes could suggest a rebound may be at play.
• Should the rebound materialise, expect a rally towards RM1.15 (R1) with further resistance at RM1.24 (R2).
• Conversely, investors should seek to cut-loss if it breaks below the RM0.995 (S1) support level.

F&N (Not Rated)

• Yesterday, F&N gained 1.3 sen (4.05%) to close at RM33.40
• The share is currently in an uptrend since mid-last year, with the share price leading key SMAs upwards in a fanning state.
• Continuation of the bullish outlook is further backed by positive displays from key momentum indicators.
• From here, expect F&N making the next high towards RM34.50 (R1). Should follow-through buying momentum sustain, further gains could then be expected at RM37.30 (R2) next.
• Downside support can be found at the immediate support level at RM31.75 (S1) and RM29.95 (S2) further down.

Source: Kenanga Research - 23 Mar 2018