Journey to Wealth

Trading Stocks - 13 February 2013

kiasutrader
Publish date: Wed, 13 Feb 2013, 01:52 PM

icapital  may  decline  after  closing  at  its  lowest  in  more  than  4 months.  A  position  can  be  liquidated  as  long  as  the  stock  stays below  RM2.28,  with  supports  anticipated  at  the  prior  lows  of RM2.20  and  RM2.10.  A  close  back  above  RM2.31,  however,  could restore the upward bias and resistance should come at RM2.40 and RM2.50.
 
Top Glove's  rebound  off  the  200-day  MAV  line  may  resume  if  the stock  closes  above  RM5.50.  A  purchase  can  be  made  if  this happens, with a close below RM5.40 as a stop-loss. The price target is  RM6.10,  if  it  violates  the  recent  high  of  RM5.80,  while  failure  to break above RM5.50 could likely see the stock trade sideways, with support anticipated at RM5.20 and a stronger one seen at RM4.90.

Source: OSK
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