IOIPG (Not Rated)

• IOIPG climbed 6.0sen (+3.39%) to close at RM1.83.
• Yesterday, the share price punched through its swing high of RM1.80 indicating a breakout.
• Technical picture is positive with increasingly positive signs from key momentum indicators and key SMAs.
• Expect follow-through buying towards RM1.97 (R1) and subsequently RM2.06 (R2), should the first resistance be taken out.
• Any downside bias should see support levels at RM1.79 (S1) and RM1.68 (S2).

AEONCR (Not Rated)

• AEONCR gained 26.0 sen (+1.77%) to close at RM14.94.
• Recent share price movement for the past three months suggests a potential formation of an ascending triangle pattern.
• We expect a breakout for AEONCR to be likely given the recent MACD bullish crossover and the positive state key SMAs are in. Investors may keep a close watch on AEONCR and time their entry upon breakout.
• Fibonacci projects resistances at RM15.20 (R1) and RM15.96 (R2).
• Conversely, support levels can be found at RM14.44 (S1) with RM13.98 (S2) further down.

Source: Kenanga Research - 31 Jul 2018