RHB Research

Trading Stocks - 13 July 2015

kiasutrader
Publish date: Mon, 13 Jul 2015, 09:53 AM
 

 

Eversendai Corporation rebounded further following the recentbullish “Piercing Line” pattern. Traders may buy as a bullish bias could be present above the MYR0.925 level, with a target price ofMYR1.05 followed by MYR1.22. The stock may take a breather if it cannot sustain above the MYR0.925 mark. In this case, further support is anticipated at MYR1.00, where traders can exit upon abreach to avoid further correction.

Unisem may trend higher after moving out of the “Symmetrical Triangle” pattern to test the MYR2.43 level. Traders may buy if this level is breached in the near term, with a target price of MYR2.64, followed by MYR2.90. In the meantime, the stock may consolidate further if the MYR2.43 level cannot be surpassed. Support may be found at MYR2.23, where traders can exit upon a breach to avoid furthercorrection.

Teo Seng Capital rebounded further in its latest session following the recent “Bullish Engulfing” pattern. Traders may buy as thetechnical rebound could continue if the stock holds above the MYR1.33 level, with a target price of MYR1.50 followed byMYR1.65. The stock may drift lower if it cannot sustain above the MYR1.33 mark. In this case, further support is anticipated at MYR1.24, where traders can exit upon a breach.

 

E.A. Technique has been consolidating with an upward bias recently. Traders may buy as a bullish bias could be present if the stock holds firmly above the MYR1.09 level, with a target price of MYR1.22. The stock may consolidate further if it trades below the MYR1.09 mark. In this case, further support is anticipated at MYR1.00, where traders can exit upon a breach to avoid further correction.

 

Three-A Resources tested the MYR1.18 resistance level after closing at a multi-year high in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR1.26, followed by MYR1.35. In the meantime, the stock may take a breather if the MYR1.18 level cannot be surpassed. Support may be found at MYR1.08, where traders can exit upon a breach to avoid further correction.

 

Puncak Niaga was testing the MYR2.82 resistance level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR3.06, followed by MYR3.30. In the meantime, the stock may consolidate further if the MYR2.82 level cannot be surpassed. Support may be found at MYR2.57, where traders can exit upon a breach.

 

 

Source: RHB Research - 13 Jul 2015

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