GBGAQRS (Not Rated)

• Yesterday, GBGAQRS gained 3 sen (1.8%), closing at RM1.69, backed by above-average trading volumes.
• Chart-wise, the share has seemingly bounced back after bottoming-out in late April.
• The share now has closed above its 20-day SMA, backed by encouraging displays from momentum indicators, signalling a bullish turn in short-term sentiment.
• Should the rebound play sustain, keen investors may look towards resistances at RM1.84 (R1) and RM2.16 (R2).
• Meanwhile, downside supports can be found near RM1.49 (S1) and RM1.33 (S2).

HENGYUAN (Not Rated)

• HENGYUAN surged 71.0 sen (8.5%) to end at RM9.06. This was accompanied by 13.6m shares being traded – above average volume of 4.4m shares.
• Positive movements in the past three days, backed by indicating strong volumes could indicate a potential bottoming-out.
• Likewise, momentum indicators also displayed signals of possible reversal, i.e. RSI rebounded strongly from oversold territory, with uptick seen in the MACD.
• The share is currently in the midst of testing its resistance at RM9.10 (R1). A break out from R1 could spark a further rally towards RM11.00 (R2) and RM12.60 (R3) further up.
• Conversely, RM6.00 (S1) represents a crucial support, in which a break below is highly negative and could possibly trigger another round of free fall.

Source: Kenanga Research - 10 Apr 2018