RHB Research

Trading Stocks - 17 June 2015 - Spring Gallery | Power Root | Golden Land | Enra | MMSV | WCT

kiasutrader
Publish date: Wed, 17 Jun 2015, 09:19 AM

 

Spring  Gallery  may  trend  higher  after  sustaining  above  the MYR0.665 level in recent sessions. Traders may buy as a bullish  bias could be present above  this level,  with a target price  of MYR0.785, followed b MYR0.85. The stock may consolidate if it falls  below the MYR0.665  mark.  In  this  case,  further  support  is  anticipated  at MYR0.61, where traders can exit upon a breach.


Power  Root  may  rebound  further  after  recovering  above  the MYR1.96 level in its latest session with an uptrend line that is intact. Traders may buy as a bullish  bias could be present above this level, with  a  target  price  of  MYR2.21,  followed  by  MYR2.30.  The  stock may drift lower if it cannot sustain above the MYR1.96  mark. In this case,  further support is anticipated at MYR1.80, where traders can exit upon a breach.

 

Golden  Land  may  rebound  further  after  recovering  above  the MYR1.55 level in its latest session with an uptrend line that is intact. Traders may buy as  a bullish  bias could be present above this level, with a target  price  of MYR1.82. The stock may trade sideways if it cannot  sustain  above  the  MYR1.55  mark.  In  this  case,  further support  is  anticipated  at  MYR1.43,  where  traders  can  exit  upon  a breach.


Enra  Group  may climb  higher after sustaining above the MYR0.665 level in recent sessions.  Traders may buy as  a  bullish  bias could be present above this level, with a target price  of MYR2.55. The stock may consolidate as before if it falls below the MYR2.13 mark. In this case,  further support is anticipated at MYR0.95, where traders can exit upon a breach.

MMS Ventures (MMSV) was testing the 100-day MAV line and the MYR0.71  level  in  its  latest  session.  Traders  may  expect  further weakness  if  the  stock  falls  below  this  level,  with  the  next  support level  anticipated  at  MYR0.65.  Meanwhile,  the  stock  may  trend sideways  if  it  holds  above the MYR0.71 level, while the bullish bias may return if it recovers above the MYR0.81 level.


WCT Holdings may fall further after closing below the MYR1.57 level in  its  latest  session.  Traders  may  expect  further  weakness  if  the stock stays below this level, with  the next support levels anticipated at MYR1.46, followed by MYR1.37.  Meanwhile, the stock may trend sideways  if  it  recovers above the MYR1.57  level, while the bearish bias may be eliminated if it recovers above the MYR1.70 level.

Source: RHB Research - 17 Jun 2015

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