HIBISCS (Not Rated)

• HIBISCS gained 5.0 sen (+4.90%) last night to close at RM1.07.
• Yesterday’s rally was backed by exceptional trading volume as the share broke out from the RM1.05 resistance level.
• Moreover, key SMAs are in a ‘Golden Cross’ state while other momentums shown positive upticks.
• From here, continuous buying interest may see the share head towards RM1.17 (R1) and even RM1.28 (R2).
• Should it hover lower between RM1.05 (S1) and RM0.950 (S2) support levels, it would provide a great opportunity for investors to accumulate the shares.

PESONA (Not Rated)

• PESONA climbed 0.5 sen (+1.61%) to end at RM0.315 yesterday.
• The share was on a downtrend since April 2017 and hit a low of RM0.260 in June 2018. However, there appears to be strong buying interest of late as shown by the high trading volume.
• More notably, the 20-day SMAs had just crossed above the 100-day SMA, possibly indicating a potential bullish run.
• Should it be able to continue rallying and break above RM0.360 (R1), next resistance will then be at RM0.440 (R2).
• Any downside bias will then see support at RM0.260 (S2).

Source: Kenanga Research - 28 Aug 2018