In this report, we revisit the stocks  that we highlighted in our previous DailyTrading Stock report. As the these stocks have continued to garner marketinterest, we are examining their current technical picture and identifying thenew levels to be mindful of, including their price targets and support as wellas resistance levels. 

Nagamas International:Testing resistance. We highlighted this stock in mid-February for its potentialprice rally. Although its share price did not appreciate immediately, it hasbeen consolidation sideways, but with a hint of upward bias. It has been makinghigher lows since early January, the latest being the March low of RM0.70,while the consistently high volume suggests continued buying interest. Theresistance level remains at RM0.75, and a close above it today should confirmthe breakout. A position can be maintained at the current level, with a tighterstop loss on a close below RM0.70. A measured move based on the early-2011rally could see the stock go as high as RM1.30, provided that the2011-psychological high of RM0.90 is convincingly broken.

Perisai Petroleum:Still consolidating. We featured the stock late last month in view of itspotential to make a short-term top. Since then, the stock  has peakedand  gone into a correction. The correction, which can be classified as a form of sidewaysconsolidation, is unfolding just above our first target of RM0.90. The2011-high of RM0.90 has now turned into a support as the price has bounced offthis level three times in the past one month. Therefore, this could be the basefor the stock's next upward move. A speculative purchase can be made aboveRM0.90, while a close above RM0.94 will increase the possibility of an upwardcontinuation, with a close above RM1.00 as confirmation. A measured move basedon the DecFeb rally could see the price scale as high as RM1.30. However,should RM0.90 be violated for 2 consecutive days, expect strong support atRM0.80, the confluence of Fibonacci levels based on the rally since theSeptember low.

Bertam Alliance:Finding support. We highlighted the possibility of the stock making ashort-term top last month and the stock fell accordingly. Nonetheless, itsuptrend since the low of Dec 2011 is still intact as the 50-day MAV linecontinued to rise. As anticipated, the stock also found support at the RM0.70level, which is a 50% retracement of the Dec-Feb rally. This level should bethe higher low that forms the base for the next up-leg, as confirmed by the'Long White' candles of 9 and 16 March. As such, a position can be maintainedas long as the stock stays above RM0.70. The stock has now violated theRM0.80resistance level, which  should  now see it testing  the  recent high of RM0.95.  A close above RM0.95 could see  it reach as high as RM1.20, a measured movebased on the 2010-2011 rally.

Source: OSK188