SUPERMX (Not Rated)

• SUPERMX gained 14.0 sen (5.20%) to close at RM2.83 on higher-than-average trading volume.
• The share experienced sharp gains since Monday after its managing director issued a statement of apology last Saturday.
• Overall technical outlook is positive with the underlying uptrend still intact and technical indicators are in a positive state.
• With the long white candlestick formed last night, continued buying interest from the market will likely push the share higher up to resistances of RM2.92 (R1) and RM3.21 (R2).
• Conversely, any near-term weaknesses may see retracement towards RM2.63 (S1) while a break below RM2.45 (S2) would be deemed highly negative.

HLBANK (Not Rated)

• HLBANK jumped 40.0 sen (2.1%) yesterday to close at day’s high of RM19.26.
• From intraday perspective, the stock was directionless most part of the day until the pre-closing period where price surged upward.
• Despite improving momentum indicators, the stock seemingly remains in a consolidative phase.
• Expect the surge to be short-lived as movement was not supported by exceptionally strong volume. Therefore, foresee a range bound between RM19.30 (R1) and RM18.67 (S1).
• Should R1 is breached, all-time high of RM20.02 (R2) represents a strong resistance.

Source: Kenanga Research - 19 Apr 2018