[FAtTA （发达）] Stocks To Watch on 6/1/2016 - OLDTOWN (5201), KIMHIN (5371), SKPRES (7155) & MAGNI(7087

pinko4988

Publish date: Wed, 06 Jan 2016, 08:42 AM

OLDTOWN (5201) was traded in correction mode after spiked up from the long ranging phase on 15/12/2015 and resisted by MYR1.63.

OLDTOWN Daily Chart

However, this strong resistance of MYR1.63 was able to breach above and closed at MYR1.64 during the session ended on 5/1/2016.

Should the bull leads OLDTOWN moving upward in the coming trading days, the next and subsequent resistance level it would be tested are MYR1.66 and MYR1.74.

Suggest to put a stop loss @ any price below MYR1.56 in case reversal of trend takes place.

From the overview of KIMHIN (5371) chart as below, it is obvious KIMHIN is trading in territory above the support level of MYR2.06 without failed since 14/12/2015.

KIMHIN Daily Chart

From the chart as labelled for uptrend lines, seems like the uptrend slope is getting steeper as of 5/1/2016.

In case KIMHIN is trading breached above the triangle pattern in the coming trading days, the next target to test by KIMHIN is the recent high of MYR2.60.

Recommend to set a stop loss @ any price below MYR2.24 should break down of triangle pattern happened.

SKPRES (7155) undergone a great retracement from the recent high of MYR1.48 on 19/11/2015 until it was traded in swing mode within the triangle pattern.

SKPRES Daily Chart

With the closing price stood higher and higher since 31/12/2015 during the session ended in the 3 consecutive days, foresee the breakout of triangle pattern soon to take place in the coming trading days and if the breached of resistance of MYR1.37 also took place simultaneously accompanied by notable increased in trading volume, the next target for SKPRES to test is the resistance level of MYR1.48.

Recommend to set a stop loss @ any price below the triangle pattern or the recent low of MYR1.25 should an unexpected sell down happened.

MAGNI (7087) was traded higher by gapping up on 23/12/2015 after reported a very good quarterly financial result a day before 23/12/2015 after market closed period.

MAGNI Daily Chart

MAGNI was traded higher and stood above MYR4.45 since then. Should the bullishness momentum continues, the sky is the limit for MAGNI.

Suggest to put a cut loss should the gapped up formed on 23/12/2015 being filled by MAGNI in future.

Good luck and happy trading!

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