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RHB Retail Research

Author: rhboskres   |   Latest post: Wed, 19 Jun 2019, 5:29 PM

 

Trading Stocks - Excel Force MSC

Author: rhboskres   |  Publish date: Wed, 19 Jun 2019, 5:29 PM


Excel Force MSC has been trading in a consolidation phase over recent sessions above the immediate support level of MYR0.39, and around the declining 30-day SMA line. A positive bias may emerge above this level. The subsequent resistance may appear at MYR0.445, followed by MYR0.50. A stop-loss can be placed below MYR0.37.

Source: RHB Securities Research - 19 Jun 2019

Labels: EFORCE
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Trading Stocks - Guan Chong

Author: rhboskres   |  Publish date: Wed, 19 Jun 2019, 5:28 PM


Guan Chong has been on the retracement mode over the past six weeks – we deem this as a healthy correction from its prior multi-month upward move. The retracement is now nearing the support level of MYR3.43. A positive bias may emerge above this point, with the stop-loss placed below the same threshold. Towards the upside, the immediate resistance is eyed at MYR4.00, followed by MYR4.20.

Source: RHB Securities Research - 19 Jun 2019

Labels: GCB
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Trading Stocks - Malaysia Building Society Bhd

Author: rhboskres   |  Publish date: Wed, 19 Jun 2019, 5:27 PM


The stock has been experiencing a minor sideways consolidation phase in the recent sessions – within the range of MYR0.98 and above the 30-day SMA line. A breakout from the MYR0.98 level may signal the extension of its upward move. The following resistance may appear at MYR1.00, followed by MYR1.05. A stop-loss can be placed at below MYR0.96.

Source: RHB Securities Research - 19 Jun 2019

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Trading Stocks - VS Industry

Author: rhboskres   |  Publish date: Wed, 19 Jun 2019, 5:26 PM


VS Industry crossed above both the MYR1.05 resistance mark and the 30-day SMA line in the latest session – extending its rebound after it tested the MYR1.00 support recently. A bullish bias may emerge above MYR1.05 – with a stop-loss placed below the same level. Towards the upside, the immediate resistance is expected at MYR1.13, followed by MYR1.18.

Source: RHB Securities Research - 19 Jun 2019

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FCPO - Rebound Could Still Extend

Author: rhboskres   |  Publish date: Wed, 19 Jun 2019, 5:23 PM


Maintain long positions on the expectation of a stronger counter-trend rebound. The FCPO experienced a sharp intraday reversal in the latest session. The soft commodity reversed from a high of MYR2,059 to a low of MYR2,016, before closing at MYR2,022, indicating a decline of MYR12. Still, the possibility is strong that the commodity could extend its counter-trend rebound. This bias would remain in place provided the MYR1,960 level (the stop-loss for our ongoing long positions) is not breached towards the downside. This rebound phase has set in to correct the commodity’s prior multi-week retracement. Maintain our positive trading bias.

As we are still not seeing signs that the commodity’s counter-trend rebound has reached an end, we continue to recommend traders to stay in long positions. These were initiated at MYR2,034, which was the closing level of 17 Jun . To manage risks, a stop-loss can be placed below MYR1,960, the low of 13 May.

Towards the downside, the immediate support is set at MYR1,940, the low of 27 Nov 2018. This is followed by MYR1,900 threshold. Moving up, the immediate resistance is set at MYR2,124, the high of 30 Apr. This is followed by the MYR2,200 level.

Source: RHB Securities Research - 19 Jun 2019

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FKLI - Bulls Still in Control

Author: rhboskres   |  Publish date: Wed, 19 Jun 2019, 5:22 PM


Maintain long positions as the bulls may be now ready to extend the rebound. The FKLI formed a white candle to close at 1,647 pts, indicating a gain of 9 pts. The session’s intraday tone was encouraging as the index generally trended higher for the whole session, with the low and high registered at 1,635.5 pts and 1,651 pts. Overall, we still see good signs of the index’s counter-trend rebound, which started from the low of the 14 May’s “Piercing Line” formation as still in force. The recent price weaknesses below the immediate resistance of 1,656.5 pts are just an indication of a minor pause. Hence, we keep to our positive trading bias.

In the absence of negative price actions that suggest the counter-trend rebound has reached an end, we continue to recommend traders to stay in long positions – initiated at 1,619.5 pts. A stop-loss can now be placed at the breakeven level.

The immediate support may be found at 1,613 pts, the high of 13 May. Breaking this could see the market test 1,573 pts, or the low of 14 May. On the other hand, the immediate resistance is set at 1,656.5 pts, ie the high of 26 Mar, followed by 1,694.5 pts, the high of 19 Mar.

Source: RHB Securities Research - 19 Jun 2019

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