Kenanga Research & Investment

Daily Technical Highlights – (AIRASIA, SUPERMX)

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Publish date: Wed, 29 May 2019, 10:29 AM

AIRASIA (Not Rated)

  • AIRASIA gained 7.0 sen (+2.75%) to close at RM2.62 yesterday.
  • Chart-wise, the share appears to have staged a rebound and tracing a potential “double-bottom” reversal pattern after down trending over the past two months.
  • More notably, yesterday’s move saw it broke above both the 20 and 50-day SMAs while the MACD line also just crossed over the Signal line.
  • Expect the share to rally higher to RM2.80 (R1) and even RM2.95 (R2).
  • On the other hand, supports can be found at RM2.40 (S1) and RM2.30 (S2).

SUPERMX (Not Rated)

  • SUPERMX went up 3.0 sen (+1.86%) to end at RM1.64 yesterday.
  • From a charting perspective, the share appears to be moving sideways after staging a rally around two weeks ago.
  • Stochastic indicator is in the overbought zone which could mean that a short-term retracement is possibly at play.
  • We believe that the share is likely to retrace back to its support at RM1.40 (S1) and even RM1.20 (S2).
  • If it is able to break above RM1.70 (R1), next resistance would then be at RM1.85 (R2).

Source: Kenanga Research - 29 May 2019

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