UOA  Development  could  decline  after  it  failed  to  get  above  the psychological MYR2.50 mark yesterday. Liquidation can be made as long  as  it  stays  below  MYR2.50,  and  supports  are  anticipated  at MYR2.35 and MYR2.20. A close above MYR2.50, however, could see a quick return in buying, but expect strong resistance at MYR2.60.

Padini  may  rebound  after  closing  at  its  highest  in  five  days.  A purchase can be made if the stock stays above MYR2.02 today, with a close below MYR1.98  as a stop-loss. Price target is MYR2.40, with resistance also expected at MYR2.20. Failure to stay above MYR2.02 could see the stock trade lower, with strong support at MYR1.80.

Puncak may decline after closing its lowest in more than two weeks. Position  can  be  exited  as  long  as  the  stock  stays  below  MYR1.95, and supports are anticipated at MYR1.75 and MYR1.65. A close back above MYR1.95, however, could extend the prior rebound. Look for it to test the MYR2.10 resistance level in this scenario.

Tropicana  may  correct  after  it  failed  to  get  above  MYR1.92. Liquidation can be undertaken as long as the stock stays below the round  figure  of  MYR1.90,  with  supports  expected  at  MYR1.70  and MYR1.60.  The  stock  could  resume  its  prior  rally  if  it  closes  back above  MYR1.92,  but  expect  strong  resistance  at  MYR2.00  and MYR2.10.

Eversendai  could  decline  after  forming  the  “Bearish  Engulfing Pattern”  yesterday.  Liquidation  can  be  made  as  long  as  it  stays below  MYR1.50,  and  supports  are  anticipated  at  MYR1.36  and MYR1.30.  A  close  above  MYR1.50,  however,  could  see  a  quick return in buying, but expect strong resistance at MYR1.55.

Gamuda  may  decline  after  closing  its  lowest  in  five  days.  Position can be exited if the stock closes below MYR4.65, and supports are anticipated  at  MYR4.40  and  MYR4.20.  A  failure  to  go  below MYR4.65, however, could lead to a return of buying. Look for it to test the psychological MYR5.00 resistance level in this scenario.

Luster  may  correct  after  forming  the  negative  “Bearish  Engulfing Patterm”  yesterday.  Position  can  be  liquidated  below  MYR0.25, with  supports  anticipated  at  MYR0.19  and  MYR0.17.  Buying  could make  a  return,  however,  if  the  stock  closes  above  MYR0.25,  and expect resistance at MYR0.30.

Perusahaan  should  rise  after  closing  its  highest  in  five  days.  A purchase  can  be  made  if  the  stock  closes  above  MYR3.62  today, with a close  below MYR3.55  as  a stop-loss.  The price target is  the psychological  MYR4.00  mark,  if  it  breaks  the  MYR3.80  resistance. Failure  to  get  above  MYR3.62,  however,  will  likely  see  the  stock trade sideways, while a downside risk will increase if the stop-loss is triggered.

Source: RHB