FRONTKN (Not Rated)

• FRONTKN gained 7.0 sen to close at RM1.88 yesterday.
• Chart-wise, the stock has broken above the 20-days SMA line, backed by higher-than-average trading volume.
• Coupled with bullish crossover signal from MACD indicator, we believe the stock could trade higher.
• From here on, overhead resistance can be seen at RM2.15 (R1) and RM2.40 (R2).
• Conversely, downside supports can be identified at RM1.45 (S1) and RM1.10 (S2).

SLP (Not Rated)

• SLP lost 1.5sen (-2.01%) to close at RM0.730 yesterday.
• Chart-wise, the stock continued to trade below all the key SMAs, accompanied by lower-than-average trading volume.
• Coupled with bearish signal from MACD indicator, we believe the stock could move lower.
• Should selling momentum persist, support level is at RM0.660 (S1) and RM0.610 (S2).
• Conversely, resistance levels can be identified at RM0.830 (R1) and RM0.880 (R2).

Source: Kenanga Research - 2 Apr 2020