RHB Research

Trading Stocks - 6 August 2015 - E.A. | Classic Scenic | Jerasia | Yoong Onn | Benalec | Unisem

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Publish date: Thu, 06 Aug 2015, 08:59 AM

E.A. Technique may trend higher after surpassing the MYR1.30  level in  its  latest  session  to  record  a  new  high.  Traders  may  buy  as  a bullish  bias could be present above this level, with a target price  of MYR1.43, followed by MYR1.55. The  stock may take a breather if it cannot  sustain  above  the  MYR1.30  mark.  In  this  case,  support  is anticipated  at  MYR1.18,  where  traders  can  exit  upon  a  breach  to avoid a further correction.

Classic  Scenic  may  rebound  further  after  it  recently  breached  the downtrend  line  and  closed  above  the  MYR1.24  level  in  its  latest session.  Traders  may  buy  as  a  bullish  bias  could  be  present  above this level, with a target price of MYR1.30, followed by MYR1.39. Thestock  may  turn  sideways  if  it  cannot  sustain  above  the  MYR1.24 mark. In this case, support is anticipated at MYR1.19, where traders can exit upon a breach.

Jerasia  Capital  may  rebound  further  after  forming  a  “Bullish Engulfing” pattern  in its latest session.  Traders may buy if the stock sustains  above  the  MYR0.96  level  in  the  immediate  term,  with  a target price of MYR1.05, followed by MYR1.12. The stock may drift lower if it  dips below the  MYR0.96  level.  Support may be found at MYR0.88, where traders can exit upon a breach.

Yoong Onn Corporation (YOCB) was testing the MYR1.14  level  in its latest session. Traders may buy if this level is breached in the near term,  with  a  target  price  of  MYR1.30.  In  the  meantime,  the  stock may  trend  sideways  if  the  MYR1.14  level  cannot  be  surpassedfirmly.  Support  may  be  found  at  MYR1.01,  where  traders  can  exit upon a breach.

 

Benalec  Holdings was testing the MYR0.64 level in its latest session. Traders  may  buy  if  this  level  is  breached  in  the  near  term,  with  a target  price of MYR0.67, followed by MYR0.705.  In the meantime, the  stock  may  trend  sideways  if  the  MYR0.64  level  cannot  be surpassed.  Support  may  be  found  at  MYR0.59,  where  traders  can exit upon a breach.

Unisem  may  experience  further  weakness  after  recently  falling below  the  MYR2.23  level.  Traders  may  expect  further  weakness  if the stock stays below the MYR2.23 level, with the next support level anticipated at MYR2.04, followed by MYR1.95. The stock may move sideways  if  it  recovers  above  the  MYR2.23  level.  Bearish  bias  may be eliminated if the MYR2.38 level is surpassed.

Source: RHB Research - 6 Aug 2015

 

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