DESTINI (Not Rated)

• DESTINI gained 1.0 sen (+3.85%) to end at RM0.270.
• After gapping down post-GE14, the share had traded below the 20-day SMA with other key indicators showing bearishness.
• However, there appears to be a change in trend after it started trading above the 20-day SMA last week. Moreover, yesterday’s move was backed by high trading volume, possibly signalling more upside.
• The share may continue to rally towards the RM0.300 (R1) resistance level and possibly RM0.390 (R2).
• Conversely, downside support can be identified at RM0.250 (S1) and RM0.200 (S2).

MAGNI (Not Rated)

• MAGNI gained 29.0 sen (+5.6%) to end at RM5.50, with above-average trading volume.
• MAGNI started its trending lower since Sep-2017, with its price hitting a low of RM4.10 in Feb-2018. However, recent series of white candlesticks may signal that the stock has bottomed out and poised for a recovery.
• Technical outlook is positively biased with recent key SMAs’ formation of “Golden Crossover” and up trending momentum indicators.
• Expect follow-through buying towards RM5.90 (R1) and RM6.33 (R2) further up.
• Conversely, downside supports are identified at RM4.96 (S1) and RM4.10 (S2).

Source: Kenanga Research - 14 Jun 2018