RHB Research

Trading Stocks - 7 Oct 2015 - U-Li | Minho | Heveaboard | E.A. Technique | Evergreen| Greenyield

kiasutrader
Publish date: Wed, 07 Oct 2015, 11:20 AM

United U-Li Corporation (ULICORP) may trend higher after surpassing the MYR4.20 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR4.98, assuming the MYR4.47 level can be breached. The stock may consolidate if it cannot hold above the MYR4.20 level. In this case, further support is anticipated at MYR4.00, where traders can exit upon a breach to avoid the risk of a further correction.

 

Minho was testing the MYR1.28 level as it recovers above the 100-day MAV line in its latest session. Traders may anticipate a bullish bias if this level is breached in the near term, with a target price of MYR1.50, provided the MYR1.42 level can be breached. In the meantime, the stock may move sideways if the MYR1.28 level cannot be breached. Support may then be found at MYR1.15, where traders can exit upon a breach.

 

Heveaboard may trend higher after surpassing the MYR1.22 level in its latest session to mark a new high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.34, followed by MYR1.45. The stock may consolidate further if it cannot hold above the MYR1.22 level. In this case, further support is anticipated at MYR1.13, where traders can exit upon a breach to avoid the risk of a further correction.

 

E.A. Technique may trend higher after surpassing the MYR1.13 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.32. The stock may consolidate if it cannot hold above the MYR1.13 level. In this case, further support is anticipated at MYR1.04, where traders can exit upon a breach.

 

Evergreen Fibreboard was testing the MYR2.02 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 MYR2.20, followed by MYR2.35. In the meantime, the stock may consolidate further if the MYR2.02 level cannot be breached. Support may then be found at MYR1.86, where traders can exit upon a breach to avoid the risk of a further correction.

 

Greenyield may trend higher after surpassing the MYR0.22 level and 100-day MAV line in its latest session. Traders may buy as short-term bullish bias could be present above this level, with a target price of MYR0.27. The stock may drift sideways if it cannot hold above the MYR0.22 level. In this case, further support is anticipated at MYR0.20, where traders can exit upon a breach.

Source: RHB Research - 7 Oct 2015

 

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