GDEX (Not Rated)

• GDEX gained 3.0 sen (+7.14%) last night to close at RM0.450.
• Yesterday’s candlestick saw it broke past the 20-day and 50-day SMAs possibly indicating a bullish run ahead.
• Moreover, positive momentum is indicated by meaningful upticks in the RSI and stochastic indicators.
• Expect continuous buying interest that may see the share head towards RM0.495 (R1) and RM0.530 (R2).
• Conversely, downside support can be found at RM0.400 (S1) and RM0.385 (S2).

SRIDGE (Not Rated)

• SRIDGE rose 0.5 sen (+2.17%) to close at RM0.235 backed by 2.4m shares exchanging hand, doubled its 20-day average trading volume.
• Trend line is bullish since early July, with yesterday’s close saw a decisive breakout from RM0.230 prior resistance level.
• Technical indicators appear in supportive for a bullish move with key SMAs continuously in “Golden Crossover” as well as upticks seen in the MACD, RSI and Stochastic.
• Key resistance to look out for in the near-term is RM0.250 (R1). Once taken out, the share is on a clear path for the next leg of "higher high" towards resistance level RM0.285 (R2).
• Immediate downside support can be found at the resistance-turned-support level RM0.230 (S1) and RM0.220 (S2) further down.

Source: Kenanga Research - 4 Sept 2018