RHB Research

Trading Stocks - 22 June 2015 - BTM | Pentamaster | IFCA MSC | Frontken | Hume Ind | Mah Sing

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Publish date: Mon, 22 Jun 2015, 09:32 AM

BTM  Resources  may  climb  further  after  breaching  the  MYR0.22 level in its latest session. Traders may buy, as a bullish bias could be present above this level, with a target price of MYR0.275. The stock may  drift  lower  if  it  falls  below  the  MYR0.22  mark.  In  this  case, further  support  is  anticipated  at  MYR0.20,  where  traders  can  exit upon a breach.

Pentamaster  Corporation  was  testing  the  MYR0.74  resistance  level in its latest session. Traders may buy if this level is surpassed in the near  term,  with  a  target  price  of  MYR0.84.  In  the  meantime,  the stock  may  trade  sideways  further  if  the  MYR0.74  level  cannot  be surpassed.  In  this  scenario,  further  support  may  then  be  found  at MYR0.65, where traders can exit upon a breach.

IFCA MSC may rebound further  after breaching the downtrend  line to climb above  the MYR1.21 level in its latest session. Traders may buy, as a bullish bias could be present above this level, with a target price of MYR1.38. The stock may correct further if it cannot sustain above  the  MYR1.21  mark.  In  this  case,  further  support  is  at MYR1.12, where traders can exit upon a breach.

Frontken Corporation may climb further after recovering above the MYR0.255 level to touch the 50-day MAV line. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.30. The stock could drift lower if it falls below the MYR0.255 mark. In this case, further support is anticipated at MYR0.24, where traders can exit upon a breach.

Hume Industries may gain further after crossing above the 200-day MAV  line  to  close  above  the  MYR3.88  level  in  its  latest  session. Traders may buy, as a bullish bias could be present above this level, with a target price of MYR4.30. The stock may consolidate further if it  cannot  sustain  above  the  MYR3.88  mark.  In  this  case,  further support is at MYR3.57, where traders can exit upon a breach.

Mah  Sing  Group  was  testing  the  MYR1.65  support  level  after breaching the uptrend line and 100-day MAV line, albeit marginally. Traders may expect a further retracement if it falls below this level, with  the  next  support  levels  anticipated  at  MYR1.58,  followed  by MYR1.51.  The  stock  may  trend  sideways  if  it  returns  above  the MYR1.65  level.  The  bearish  bias  may  be  eliminated  if  the  MYR1.75 level is surpassed.

Source: RHB Research - 22 Jun 2015

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