DUFU (Not Rated)

• Yesterday, DUFU plunged a further 23 sen (10.5%) to close at RM1.97, posing a third consecutive day of losses.
• More notably, yesterday’s move completes the previous “Double-Top” chart pattern after cutting below its neckline, thus indicating a full reversal of its prior uptrend earlier in the year.
• Additionally, technical indicators also show no signs of a near-term recovery, with its MACD and RSI in steep downtrends, on top of tepid trading volumes.
• From here, projection of the “Double-Top” downwards would arrive to an eventual target objective of RM1.70 (S2), but we still see an immediate support at RM1.90 for now (S1).
• Conversely, should an unlikely rebound occur, watch out for overhead resistances at RM2.21 (R1) and RM2.47 (R2).

OMESTI (Not Rated)

• OMESTI gained by 1.0 sen (+2.63%) to end at RM0.390 yesterday.
• Notably, yesterday’s move saw the share closing above the 20-day SMA with a formation of long white candlestick.
• Momentum indicators appear improving with upward trending seen MACD coupled with minor upticks depicted by RSI and Stochastic.
• Should follow-through buying continue, it is expected that the share to trend higher towards RM0.410 (R1) and RM0.450 (R2).
• Conversely, immediate support level can be seen at RM0.368 (S1) and further down at RM0.340 (S2).

Source: Kenanga Research - 18 Dec 2018