HIBISCS (Not Rated)

• HIBISCS gained 8.0 sen (+7.08%) to close at RM1.21 yesterday. We note that in general, the KLENG (Bursa Malaysia Energy Index) was also rallying and recorded gains of 2.08%.
• Longer-term technical outlook is positive as the uptrend is firmly intact while the share is also trending above all key SMAs.
• However, we do not discount a possibility of short-term retracement as the stochastic indicator is in the overbought zone.
• Should the share retrace to its support at RM1.10 (S1), investors can buy on weakness while a break below RM1.00 (S2) would be deemed highly negative.
• Conversely, resistance can be found at RM1.30 (R1) and RM1.35 (R2).

NAIM (Not Rated)

• NAIM recorded gains of 5.98% (+7.0 sen) yesterday to close at RM1.24.
• Since the start of February 2019, the share had posted a strong rally, making gains of close to two folds.
• However, technical indicators are appearing to turn slightly bearish as indicated by the down trending of the MACD indicator while stochastic indicator is in the overbought zone.
• The share may fall back to its supports at RM1.10 (S1) and even RM1.00 (S2).
• Should the positive momentum continue, resistance can be found at RM1.30 (R1) and RM1.40 (R2).

Source: Kenanga Research - 9 Apr 2019