RHB Research

Trading Stocks - 20 October 2015 - Minho | Mieco | VS | BJAUTO | Fitters | Yong Tai

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Publish date: Tue, 20 Oct 2015, 09:30 AM

Minho  may climb higher after surpassing the MYR1.31  level  and 50-day MAV line  in its latest session.  Traders may buy as  a  bullish  bias could  be  present  above  this  level,  with  a  target  price  of  MYR1.42, followed  by  MYR1.55.  The  stock  may  trade  sideways  if  it  cannot hold  above  the  MYR1.31  mark.  In  this  case,  further  support  is anticipated at MYR1.15, where traders can exit upon a breach.

Mieco  Chipboard  may  climb  higher  after  surpassing  the  MYR0.99 level in its latest session.  Traders may buy as a bullish  bias could be present above this level, with a target price  of  MYR1.13, assumingthe  MYR1.10  level  can  be  breached.  The  stock  may  consolidate further  if  it  cannot  hold  above  the  MYR0.99  mark.  In  this  case, further  support  is  anticipated  at  MYR0.90,  where  traders  can  exit upon a breach.

 

VS Industry may trend higher after surpassing the MYR1.51  level in its latest session, albeit marginally to mark a new high. Traders may buy as a bullish  bias could be present above this level, with a target price  of  MYR1.66,  followed  by  MYR1.75.  The  stock  may  take  a breather  if  it  cannot  hold  above  the  MYR1.51  level.  In  this  case, furthr  support  is  anticipated  at  MYR1.36,  where  traders  can  exit upon a breach to avoid the risk of further potential correction.

 

Berjaya  Auto  may  rebound  further  after  surpassing  the  MYR2.30level  in  its  latest  session,  albeit  marginally.  Traders  may  buy  as  a bullish  bias could be present above this level, with a target price  of MYR2.50,  followed  by  MYR2.64.  The  stock  may  drift  sideway  if  it cannot hold above the MYR2.30  mark. In this case, further support is anticipated at MYR2.15, where traders can exit upon a breach.

 

Fitters  Diversified  may  rebound  further  after  surging  above  the MYR0.54  level  and  100-day  MAV  line  in  its  latest  session.  Traders may  buy  if  this  breach  is  sustainable,  with  a  target  price  of MYR0.62,  assuming  the  MYR0.585  level  can  be  surpassed.  In  the meantime, the stock may take a breather if it cannot hold above the MYR0.54  level.  Support  may  then  be  found  at  MYR0.50,  where traders can exit upon a breach.

 

Yong Tai was testing the MYR0.63 level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR0.735. In the meantime, the stock may consolidate further if the MYR0.63 level cannot be breached. Support may then be found at MYR0.565, where traders can exit upon a breach.

Source: RHB Research - 20 Oct 2015

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