MI (Not Rated)

• MI lost 13.0 sen (-8.61%) to close at RM1.38 yesterday.
• Since last week, the stock has broken below all the key SMAs which came in tandem with stronger-than-average trading volume.
• Accompanied with a bearish MACD signal, we believe that the stock may trend lower.
• With that, key support levels can be seen at RM1.10 (S1) and RM0.950 (S2).
• Conversely, key resistance levels are seen at RM1.50 (R1) and RM1.70 (R2).

FPGROUP (Not Rated)

• FPGROUP dropped 4.50 sen (-10.00%) to end at RM0.405 yesterday.
• Chart-wise, the stock has been undergoing a period of sell down since Feb this year, which saw it currently trading well below all of its key SMAs.
• Coupled with a bearish MACD crossover and lacklustre momentum indicators, we believe that there may be more downside.
• Key resistance levels can be found at RM0.580 (R1) and RM0.695 (R2).
• Conversely, downside supports can be identified at RM0.340 (S1) and RM0.285 (S2).

Source: Kenanga Research - 20 Mar 2020