Poh Huat Resources may trend higher after surpassing the MYR2.82level in itslatest session to extend its new high. Traders may buy as a bullish bias could be present above this level, with a target priceof MYR3.25, followed by MYR3.50. The stock may take a breather if it cannot sustain above the MYR2.82 mark. In this case, support is anticipated at MYR2.64, where traders can exit upon a breach to avoid a further correction.
Denko Industrial Corporation may experience a technical rebound after forming a bullish “Piercing Line” pattern in its latest session. Traders may buy as a bullish bias could be present above the MYR0.35 level, with a target price of MYR0.38, followed by MYR0.405. The stock may drift lower if it does not react to thecurrent bullish signal. In this case, support is anticipated at MYR0.315, where traders can exit upon a breach.
Perwaja Holdings may experience a technical rebound moving out of the downtrend line. Traders may buy if the stock climbs above the MYR0.215 level, with a target price of MYR0.255, assuming theMYR0.235 level can be surpassed. The stock may drift lower if it does not react the the current positive signal. Support may be found at MYR0.17, where traders can exit upon a breach.
D&O Green Technologies was testing the MYR0.30 level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR0.345. In the meantime, the stock may trend sideways if the MYR0.30 level cannot be surpassed. Support may be found at MYR0.25, where traders can exit upon a breach.
Malayan Banking (Maybank) may soon test the MYR8.95 support level after its recent drop. Traders may expect further weakness if the stock falls below this price, with the next support level anticipated at MYR8.60, followed by MYR8.25. The stock mayconsolidate further if it sustains above the MYR8.95 level. A slightbullish bias may return if the MYR9.38 level is surpassed.
Ecofirst Consolidated may experience further weakness after recently falling below the MYR0.285 level. Traders may expect further selling if the stock maintains below this price, with the next support level anticipated at MYR0.255, followed by MYR0.235. The stock may move sideways if it recovers above the MYR0.285 level. The bearish bias may be removed if the MYR0.31 level is surpassed.
Source: RHB Research - 10 Aug 2015
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MAYBANKCreated by kiasutrader | Jun 14, 2016
Created by kiasutrader | May 05, 2016