Malton’s climb above the 50-day MAV line could be a bullish signal. The  upward  bias  is  increased  if  the  stock  can  stay  above  the MYR1.04 level, with target price at MYR1.14, followed by MYR1.21. The  stock  could  fall  back  into  its  neutral  trend  if  it  could  not  hold above  the  MYR1.04  level.  Further  support  may  be  found  at MYR0.975, whereby a breach on closing would trigger a stop-loss.

SP  Setia’s  latest  move  and  9-month  high  increases  the  bullish sentiment.  Upward  bias  is  maintained  if  the  stock  holds  above MYR3.25. The target price is set at MYR3.50, followed by MYR3.78. Traders may consider applying a stop-loss if the MYR3.20 support is breached.

M-Mode’s new high is  potentially  a  bullish  signal.  Upward  bias  is maintained  if  the  stock  holds  above  MYR0.74.  The  target  price  is MYR0.855,  followed  by  MYR0.90.  Downside  risk  increases  if  the stock  is  unable  to  hold  above  MYR0.74.  Further  support  may  be found  at  MYR0.69,  whereby  a  breach  on  closing  would  trigger  a stop-loss.

Fiamma’s bullish sentiment increases after hitting a multi-year high. Traders may monitor if the stock could maintain above the MYR2.10 level  in  the  near  term,  keeping  the  bullish  bias  intact.  The  target price  is  MYR2.50,  followed  by  MYR2.72.  Downside  risk  increases  if the  stock  falls  below  MYR2.10.  Further  support  may  be  found  at MYR1.98, whereby a breach on closing would trigger a stop-loss.

Global Oriental’s latest  white  candle  crossing  above  the  50-day MAV line may be a bullish signal. The upward bias is likely enhanced if the MYR1.06 resistance is breached. If successful, the target price is  MYR1.12,  followed  by  MYR1.17.  Support  may  be  found  at MYR0.96, whereby a breach on closing would trigger a stop-loss.

Ideal Jacobs may correct further after its latest black candle form a potentially  overbought  position.  Downside  risk  increases  if  the MYR0.385 support could not hold. Further support is anticipated at the MYR0.35 level. The stock may reverse its negative sentiment if it rebounds above the MYR0.415 resistance.

Source: RHB