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RHB Research

Author: kiasutrader   |   Latest post: Wed, 12 Oct 2016, 05:13 PM

 

Trading Stocks - 5 May 2016 - IWCITY | HLIND | Protasco | MAYBULK | INARI | GTRONIC

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Iskandar  Waterfront  City  (IWCITY)  may  trend  higher  after  surgingabove  the  MYR0.95  level  in  its  latest  close.  A  bullish  bias  may  be present above  this point, with a target price of MYR1.05, followed by MYR1.12.  On the other  hand, the stock  may  drift sideways  if it dips  back  below  the  MYR0.95  level.  Support  may  be  found  at MYR0.905, where traders can exit upon a breach to avoid the risk of a further correction.

 


Hong Leong Industries may climb further after extending to a  multiyear  high  in  its  latest  session.  A  bullish  bias  may  still  be  present above the MYR7.30 level, with a target price of MYR8.30. The stock may take a further breather  if  it retraces below the MYR7.30 mark in the near term.  Support may be found at MYR7.00, where traders can exit upon a breach to avoid the risk of a further correction.

 

Protasco  rebounded  to  test  the  MYR1.74  level  in  its  latest  sessionafter the recent  pullback. The bullish  bias may be enhanced if  the stock  surpasses  this  point  in  the  near  term,  with  a  target  price  of MYR1.92,  provided  the  MYR1.84  resistance  can  be  violated. However,  it  may  trade  sideways  if  the  MYR1.74  mark  cannot  be surpassed.  Support  may  be  found  at  MYR1.64  where  traders  can exit upon a breach to avoid the risk of a further correction.

 

Malaysian  Bulk  Carriers  may  rebound  further  after  forming  a “Bullish Engulfing” pattern in its latest session. A bullish bias may be present above the MYR0.835 level, with a target price of MYR0.945, followed by MYR1.00. The stock may drift lower if it retraces back below  the  MYR0.835  mark.  Support  may  be  found  at  MYR0.755,where traders can exit upon a breach to avoid the risk of a further correction.

 

Inari Amertron may experience a technical rebound after forming a “Bullish  Engulfing”  pattern  amid  oversold  conditions  in  its  latest session.  A  bullish  bias  may  be  present  above  the  MYR2.78  level, with  a  target  price  of  MYR3.03.  The  stock  may  drift  lower  if  it cannot  breac  the  MYR2.78  mark.  Support  may  be  found  at MYR2.60, where traders can exit upon a breach.

 


Globetronics  Technology  may  be  poised  for  a  technical  rebound after forming a “Bullish Engulfing” pattern  amid oversold conditions in  its  latest  session.  A  bullish  bias  may  be  present  above  the MYR3.56 level, with a target price of MYR4.17 –  ie  the mid-point of 26 Apr’s black candle. The stock may drift lower if it cannot surpass the  MYR3.56  mark.  Support  may  be  found  at  MYR3.12,  where traders can exit upon a breach.

Source: RHB Research - 5 May 2016

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Related Stocks

Chart Stock Name Last Change Volume 
IWCITY 0.56 -0.02 (3.45%) 2,062,000 
HLIND 10.66 0.00 (0.00%) 2,500 
PRTASCO 0.35 -0.005 (1.41%) 839,200 
MAYBULK 0.445 -0.015 (3.26%) 147,100 
INARI 2.25 +0.02 (0.90%) 7,575,700 
GTRONIC 2.41 0.00 (0.00%) 711,800 

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