RHB Research

Trading Stocks - 2 October 2015 - WCT | LTKM | SMRT | Media Prima | SAM Engineering | Borneo Oil

kiasutrader
Publish date: Fri, 02 Oct 2015, 09:35 AM

WCT  Holdings  may  rebound  further  after  surpassing  the  MYR1.40 level  in its latest session.  Traders may buy as a bullish  bias could be present above this level, with a target price  of  MYR1.63,  assuming the MYR1.50 level can be surpassed. The  stock may turn sideways if it cannot hold above the MYR1.40 level. In this case, further support is anticipated at MYR1.28, where traders can exit upon a breach.


LTKM may rebound further after surpassing the MYR1.58  level in its latest  session,  albeit  marginally  to  touch  the  50-day  MAV  line. Traders may buy as  a bullish  bias could be present above this level, with  a  target  price  of  MYR1.77,  assuming  it  can  surpass  the MYR1.68  level.  The  stock may drift  sideways if it cannot hold above the  MYR1.58  mark.  In  this  case,  further  support  is  anticipated  at MYR1.50, where traders can exit upon a breach.

 

SMRT  was  testing  the  MYR0.295  level  in  its  latest  session  after marginally breaching the downtrend line. Traders may anticipate  a further technical rebound if this level is breached in the near term,with  a  target  price  of  MYR0.375,  provided  the  MYR0.32  minor resistance  can  be  breached.  In  the  meantime,  the  stock  may  drift sideways  if  the  MYR0.295  level  cannot  be  breached.  Support  may then be found at MYR0.25, where traders can exit upon a breach.

Media  Prima  was  testing  the  MYR1.27  level  in  its  latest  session. Traders  may  anticipate  a  further  technical  rebound  if  this  level  is breached in the near term, with a target price of MYR1.36, followed by  MYR1.51.  In  the  meantime,  the  stock  may  drift  sideways  if  the MYR1.27  level cannot be  breached.  Support may then be found at MYR1.15, where traders can exit upon a breach.  Alternatively, the more critical MYR1.05 level can be used instead.

 

Sam Engineering & Equipment was testing the MYR6.00 level in its latest  session.  Traders  may  anticipate  a  bullish  bias  if  this  level  is breached in the near term, with a target price of MYR6.50, followed by MYR7.00.  In the meantime, the stock  may consolidate further if the MYR6.00  level cannot be  breached.  Support may  then be found at MYR5.50, where traders can exit upon a breach  to avoid risk of  afurther correction.

 

Borneo Oil  was testing  the  MYR0.575  level  and 50-day MAV line  in its  latest  session.  Traders  may  expect  further  weakness  if  it  fallsbelow  this  price,  with  the  next  support  level  anticipated  at MYR0.53, followed by MYR0.485. The stock may trend sideways if  it returns  above  the  MYR0.575  level.  A  bullish  bias  may  kick  in  if  it rebounds above the MYR0.62 level.

Source: RHB Research - 2 Oct 2015

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