BURSAMASTER’s PICKS 15- 19  AUG 2016 (UPDATED)

AZRB

AZRB closed today at the day’s high of 0.68 with considerable increased volume. It is important to monitor whether the immediate resistance of 0.685 could be broken conclusively & decisively tomorrow. If this happens; we should see it testing the next resistance of 0.72 & 0.76 in the immediate term.

PETRONM

Petronm demonstrated an impressive trading pattern by achieving a resistance breakout at 4.12 and thereafter closing above this level. The subsequent resistance is pegged at 4.50 & 5.15. It has been climbing steadily for the last couple of days since 8 Aug 2016from 3.66 to today’s 4.25 on noticeably increased volume. This trading pattern might suggest that the forthcoming qtr result should be better than expected.

KIMLUN

KIMLUN closed at the day’s high of 1.84 with resistance breakout at 1.82 with considerable increase in volume. Its next resistance is at 1.90 & 1.95

DNEX

It is important to observe the breakout of 0.23 level in the coming days to reaafirm its uptrend mode. If this level is able to be penetrated conclusively & decisively,  then we should be able to see 0.25 & 0.27 levels achievable.

VS INDUSTRY

VS too made a resistance breakout at 1.42 with impressive volume.  Subsequent levels to watch 1.50 & 1.55.

PMETAL

PMETAL has been consolidating at the 4.29 level for the past couple of days. Once this level is surpassed conclusively we should see 4.54 & 4.70 levels in the immediate term.  It is expected PMETAL to announce sterling Qtr result this month. Monitor closely for opportunities.

HAPPY TRADING & GOOD LUCK

BURSAMASTER

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers