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