SKPRES (Not Rated)

• SKPRES dropped 1.0 sen (-0.67%) to close at RM1.49 yesterday.
• Technically, the stock has been ranging between RM1.33 to RM1.64 with recent candlesticks finding buying interest near the midrange and the 50-day SMA.
• We believe that SKPRES is poised to move higher, given the buying interest and positive signals from key momentum indicators.
• Keen investors may look at support level of RM1.47 (S1) and RM1.36 (S2) to build a position in the stock.
• Conversely, resistance levels can be found at RM1.62 (R1) and RM1.72 (R2).

AIRASIA (Not Rated)

• AIRASIA gained 11.0 sen (+3.23%) to close at RM3.51.
• Having bottoming-out from the downtrend in early July, the share is staging a rally as supported by the bullish momentum indicators.
• Backed by strong trading volume and the long-white candlestick formed yesterday, we expect follow-through buying and may see the share head towards RM3.62 (R1) with the next resistance at RM4.00 (R2).
• Should AIRASIA retrace, investors can buy on dips with supports identified at RM3.35 (S1) and RM3.00 (S2).

Source: Kenanga Research - 27 Jul 2018