AIRPORT (Trading Buy, TP: RM7.27; SL: RM6.47)

• AIRPORT plunged 14.0 sen (-2.07%) to close at RM6.61 yesterday.
• Chart-wise, the share has been on a steep dive since breaking below the RM7.60 level. We believe that there is a likelihood for a technical rebound, given both of its RSI and stochastic indicators are displaying heavily oversold signals.
• Should a technical rebound happen, we look towards resistances at RM7.30 (R1) and RM7.59 (R2).
• Conversely, support levels can be found at RM6.50 (S1) and RM6.06 (S2).

TENAGA (Not Rated)

• TENAGA tumbled 52.0 sen (-4.13%) yesterday to close at RM12.06.
• The share seems to be trading within a descending channel since early-Apr 2018. Yesterday’s long bearish candlestick bought the share to the lower trend line and we believe a rebound could happen, aligned with our view of a rebound-play for FBMKLCI index.
• Key momentum indicators are also displaying oversold signals, leading us to believe a rebound is likely to happen.
• We look towards resistance levels at RM12.50 (R1) and RM13.20 (R2).
• Support levels, on the other hand, can be identified at RM11.80 (S1) and RM11.66 (S2).

Source: Kenanga Research - 12 Apr 2019