QL (Not Rated)

• QL gained 38.0 sen (7.14%) yesterday to end at RM5.70.
• Chart-wise, the share had been riding on an uptrend since Sep-2016. Yesterday’s move further reiterates the bullish move with a break above its previous high of RM5.57.
• Technical outlook once again is looking positive with meaningful upticks in key technical indicators after some consolidation in the past two weeks.
• From here, expect the share to test its next resistance level at RM6.07 (R1) and possibly higher up at RM6.35 (R2).
• Downside bias will see supports at RM5.62 (S1) and RM5.17 (S2).

SUPERMX (Not Rated)

• Yesterday, SUPERMX gained 12.0 sen (3.73%) to close higher at RM3.34, firmly above key moving averages.
• This brought the share to break out of its short consolidation for the past few days, possibly reiterating a continuation of its underlying uptrend.
• From here, its immediate resistance at around RM3.40 (R1) first needs to be taken out decisively before the technical picture can turn affirmatively bullish. A further resistance can be found higher up at 3.54 (R2).
• Meanwhile, downside supports can be seen at RM 3.29 (S1) and 3.21 (S2) further down.

Source: Kenanga Research - 5 Jun 2018