RHB Research

Trading Stocks - 24 July 2015 - Mitrajaya | Ni Hsin | George Kent | MKH | MYEG | IQ Group

kiasutrader
Publish date: Fri, 24 Jul 2015, 09:21 AM

Mitrajaya  Holdings  may  trend  higher  after  climbing  above  theMYR1.94  level  in  its  latest  session,  albeit  marginally.  Traders  may buy as a bullish  bias could be present above this  level, with a target price  of  MYR2.18,  followed by  MYR2.39. The  stock may consolidatefurther  if  it  cannot  sustain  above  the  MYR1.94  mark.  In  this  case, further  support  is  anticipated  at  MYR1.72,  where  traders  can  exit upon a breach to avoid a further correction.

 


Ni  Hsin  Resources  may  climb  further  after  surpassing  the  100-day MAV line and MYR0.32 level. Traders may buy as a bullish bias could be  present  above  this  level,  with  a  target  price  of  MYR0.385, followed by MYR0.41. The  stock may resume trading sideways  if it cannot  sustain  above  the  MYR0.32  mark.  In  this  case,  further support  is  anticipated  at  MYR0.29,  where  traders  can  exit  upon  abreach

George  Kent  may  trend  higher  after  closing  above  the  MYR1.44 level in its latest session.  Traders may buy as a bullish  bias could be present above this level, with a target price  of  MYR1.72, assuming the  MYR1.56  level  can  be  breached.  The  stock  may  consolidate further  if  it  returns  below  the  MYR1.44  mark.  In  this  case,  further support  is  anticipated  at  MYR1.30,  where  traders  can  exit  upon  a breach.

MKH  may  experience  a  further  technical  rebound  after  crossing above  the  downtrend line and  50-day MAV line.  Traders may buy as a  bullish  bias could be present  above the MYR2.50  level, with a target  price  of MYR2.82.  The stock may drift  sideways if it  cannot sustain  above  the  MYR2.50  level.  In  this  case,  further  support  is anticipated at MYR2.29, where traders can exit upon a breach.

 

My E.G Services has been consolidating recently  and climbed above the  MYR2.76  level  in  its  latest  session,  albeit  marginally.  Traders may buy as  a  bullish  bias could be present above this level, with a target  price  of  MYR3.03,  followed  by  MYR3.27.  The  stock  may consolidate further  if  it cannot sustain above the MYR2.76  mark. In this case,  further support is anticipated at MYR2.50, where traders can exit upon a breach.

IQ Group was testing the MYR2.70  level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR2.95, followed by MYR3.20.  In the meantime, the stock may turn  sideways  if  the  MYR2.70  level  cannot  be  surpassed.  Support may be found at MYR2.35, where traders can exit upon a breach.

Source; RHB Research - 24 Jul 2015

 

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