GBGAQRS (Not Rated)

• Yesterday, GBGAQRS closed at RM1.64 (+1.2%) to pare some losses from its recent sell-down.
• From the recent candlesticks development (i.e. doji followed by white candlestick), it appears that investors are showing buying interest in the counter once again.
• Underlying trend remains bearish with SMAs in “Death Crossover” state, but momentum indicators, such as a bullish MACD-Signal Line crossover, may be suggestive of a potential reversal.
• The stock is currently in the midst of testing its resistance at RM1.65 (R1). Should price closes above R1, follow through buying could lead price towards RM1.85 (R2).
• Conversely, downside support is located at RM1.50 (S1) and RM1.33 (S2).

AIRPORT (Not Rated)

• AIRPORT gained 12.0 sen (1.35%) to close at RM9.04 yesterday, bringing the share to close above key SMAs.
• Technical picture of AIRPORT is turning positive with yesterday’s move marking a decisive breakout from its almost 2- month sideways trading.
• Similarly, momentum indicators are mostly in supportive of a positive outlook, as evidenced by upticks in MACD, RSI as well as Stochastic.
• Should buying interest follow through, expect for a higher move towards RM9.20 (R1). Once R1 is taken out, the share price is on a clear path towards RM9.45 (R2).
• Conversely, downside risks are identified at a strong immediate support level RM8.90 (S1) and RM 8.62 (S2) further down.

Source: Kenanga Research - 4 Apr 2018