Kenanga Research & Investment

Daily technical highlights – (SUPERMX, FLBHD)

kiasutrader
Publish date: Thu, 22 Nov 2018, 09:19 AM

SUPERMX (Not Rated)


SUPERMX grew by 11.0 sen (+2.86%) to end at RM3.96 yesterday.
Chart-wise, the share has been seemingly bottomed-up to stage an uptrend recovery since mid-Oct.
Overall technical outlook is bullish with the share trending above key SMAs while other momentum indicators are in positive
mode.

From here, we expect the share to test its immediate resistance at RM4.36 (R1) where a break above will see another rally
towards RM4.61 (R2).

Should buying momentum taper off, supports can be found at RM3.36 (S1) and RM3.07 (S2).


FLBHD (Not Rated)


FLBHD gained 4.0 sen (+2.47%) to close at RM1.66 on the back of stronger-than-average trading volume with 1.2m shares
exchanging hand - 4 folds of its 20-day average.

Chart-wise, the share has been on a positive trend since June, having broken out at RM1.55 with yesterday’s moves pose it
close to testing the RM1.69 (R1) resistance level.

Moreover, encouraging momentum indicators appeared in supportive for a bullish move as indicated by the bullish MACD,
RSI and Stochastic.

Should it manage to break above RM1.69 (R1), expect next advancement towards RM1.90 (R2).
Conversely, support lines are found at RM1.55 (S1), failing which further support is located at RM1.40 (S2).

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