The uptrend in Globetronics may continue after it printed a new 52-week high on Monday. A trader may buy if  it  stays  above MYR3.20, with  a  close  below  MYR3.15  as  a  stop-loss.  Should  the  MYR3.50 resistance be broken, the  price target will be  MYR3.80. However,  a failure to stay above MYR3.20 will likely see the stock drifting lower, and downside risk will increase if the stop-loss is triggered.

Perisai  may scale higher after hitting  a new 52-week high. A trader may  purchase  the  stock  if  it  stays  above  MYR1.70  today,  with  a close below MYR1.69  as a stop-loss. The price target is MYR2.00  if the  MYR1.85  resistance  is  broken.  However,  note  that  the  stock could trend sideways if it fails to stay above MYR1.70, while strong support is at MYR1.55.

Hong Leong  Industries  may scale higher  after getting above the 50-day  MAV  line.  A  trader  may  purchase  the  stock  if  it  stays  above MYR5.10  today,  with  a  close  below  MYR5.00  as  a  stop-loss.  The price  target  is  MYR5.80  if  the  MYR5.30  resistance  is  broken. However,  note that  the stock could trend  sideways  if it fails  to  stay above MYR5.10, while strong support is at MYR4.80.

Mah  Sing  may  decline  after  getting  back  below  the  100-day  MAV line. Traders may opt to liquidate if the stock stays below MYR2.30, with  supports  anticipated  at  MYR2.10  and  MYR2.00.  A  failure  to stay below MYR2.30 could see  the return of buyers  but the upward bias will only be taken seriously on a close above MYR2.50.

Yi-Lai  may scale higher after holding above the 100-day MAV line. A trader  may  opt  to  purchase  the  stock  if  it  stays  above  MYR1.00, with  a  close  below  MYR0.98  as  a  stop-loss.  The  price  target  is MYR1.15, if the MYR1.10 resistance is broken. However, note that the  stock  could  trend  sideways  if  it  fails  to  stay  above  MYR1.00, while support lies at MYR0.95.

EITA may climb after hitting a 52-week high. If the stock stays above MYR1.00  today, a trader may opt to make a purchase  -  with a close below  MYR0.98  as  a  stop-loss.  The  price  target  is  MYR1.20,  if  the MYR1.10  resistance is cracked. However,  the stock’s failure to  stay above  the  MYR1.00  hurdle  may  see  it  trending  lower,  and  further support is seen at MYR0.90.

Source: RHB