WIDAD (Not Rated)

• Yesterday, WIDAD rose 0.5 sen (+1.45%) to close at RM0.350, on the back of higher-than-average trading volume.
• Chart-wise, the share has been on an uptrend after the formation of a “Golden Cross” earlier this month.
• Notably, the share is currently trading above all its SMAs underpinned by positive upticks from key momentum indicators, which may indicate more upside possibilities.
• Expect the share to test resistance at RM0.390 (R1) and RM0.415 (R2).
• Conversely, support levels can be identified at RM0.300 (S1) and RM0.270 (S2).

FGV (Not Rated)

• FGV gained 2.0 sen (1.72%) to close at RM1.18.
• The share has been on an uptrend since mid-December and has gradually ascended above all key SMAs.
• Yesterday candlestick formed a bullish candlestick, putting a stop to the three day consecutive drop which we believe to be a near term retracement.
• From here on we expect the share to rebound towards RM1.40 (R1) and RM1.60 (S2), backed by its increasing trading volume and positive upticks in key SMAs.
• Conversely, downside risks are identified at RM0.915 (S1) support level and RM0.800 (S2).

Source: Kenanga Research - 28 Feb 2019