Evergreen Fibreboard may climb higher after surpassing MYR1.42 to extend its multi-year high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.68, followed by MYR1.75. The stock may pull back to consolidate if it cannot sustain above the MYR1.42 mark. In this case, further support is anticipated at MYR1.30, where traders can exit upon abreach to avoid a further correction.
Homeritz Corporation may trend higher after closing above MYR1.49 to reach a new high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.63, followed by MYR1.77. The stock may consolidate further if it cannot sustain above the MYR1.49 mark. In this case, further support is anticipated at MYR1.32, where traders can exit upon a breach to avoid a further correction.
Keladi may trade higher after closing above the MYR0.30 level and 200-day MAV line, albeit marginally. Traders may buy as a bullishbias could be present above this level, with a target price of MYR0.34, followed by MYR0.365. The stock may drift sideways if it cannot sustain above the MYR0.30 mark. Further support is then anticipated at MYR0.28, where traders can exit upon a breach.
Heng Huat Resources was testing the MYR0.715 level in its latest session. Traders may buy if this level is breached in the immediate term, with a target price of MYR0.765, followed by MYR0.835. In the meantime, the stock may consolidate further if the MYR1.43level cannot be surpassed. Support may be found at MYR0.67, where traders can exit upon a breach.
Muhibbah Engineering breached the downtrend line recently to test the MYR2.40 level and 50-day MAV line. Traders may buy if this level is breached in the near term, with a target price of MYR2.66, followed by MYR2.80. In the meantime, the stock may move sideways if the MYR2.40 level cannot be surpassed. Support may be found at MYR2.20, where traders can exit upon a breach.
UEM Edgenta was testing the MYR3.66 level in its latest session while marginally breaching the downtrend line. Traders may buy if this level is breached in the near term, with a target price of MYR3.85, followed by MYR4.30. In the meantime, the stock may consolidate further if the MYR3.66 level cannot be surpassed. Support may be found at MYR3.28, where traders can exit upon a breach.
Source: RHB Research - 3 Jul 2015