Evergreen Fiberboard may trend higher after climbing above the MYR1.25 level dpite a slight pullback. Traders may buy as a bullishbias could be present above this level, with a target price of MYR1.42, followed by MYR1.50. The stock may take a breather if it falls back below the MYR1.25 mark. In this case, further support is anticipated at MYR1.14, where traders an exit upon a breach to avoid a further correction. Meanwhile, we also spotted a bearish “Dark Cloud Cover” candle pattern after the latest session. Still, further confirmation is needed to ascertain the potential reversal.
Tek Seng may rebound further after recovering above the 50-day MAV line and MYR0.55 level. Traders may buy, as a bullish bias could be present above this level, with a target price of MYR0.625, followed by MYR0.685. The stock may drift lower if it cannot sustain above the MYR0.55 mark. In this case, further support is anticipated at MYR0.495, where traders can exit upon a breach.
NCB Holdings may climb further after surpassing the MYR2.95 levelin its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR3.20, followed by MYR3.40. The stock may consolidate further if it cannot hold above the MYR2.95 mark. In this case, further support is anticipated at MYR2.75, where traders can exit upon a breach.
Ni Hsin Resources was testing the 50-day MAV line and MYR0.29resistance level in its latest session. Traders may buy if this level is surpassed in the near term in anticipation of a further technical rebound, with a target price of MYR0.335. In the meantime, the stock may drift sideways if the MYR0.29 level cannot be surpassed. In this scenario, further support may then be found at MYR0.26, where traders can exit upon a breach.
Frontken Corporation was testing the 50-day MAV line and the MYR0.25 support level in its latest session. Traders may expect further weakness if this level is violated in the near term, with the next support level anticipated at MYR0.215. Meanwhile, the stock may trend sideways if it holds above the MYR0.25 level, while the bearish bias may be eliminated if the MYR0.275 level is surpassed.
IFCA MSC may experience a further correction after crossing below the 100-day MAV line to close below MYR1.37. Traders may expect further weakness if the stock stays below this level in the immediate term, with the next support anticipated at MYR1.21 and MYR1.15. Meanwhile, the stock may trend sideways if it recovers back above the MYR1.37 level, while the bullish bias may kick in if the MYR1.55 level is surpassed
Source: RHB Research - 10 Jun 2015
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FRONTKNCreated by kiasutrader | Jun 14, 2016
Created by kiasutrader | May 05, 2016