RHB Research

Trading Stocks - 23 November 2015 - Engtex | Ewein | EFFICIEN | OpenSys | C.I. | IFCA

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Publish date: Mon, 23 Nov 2015, 09:12 AM

Engtex  Group  was  testing  the  MYR1.18  resistance  level  in  its  latest session.  Traders  may  buy  if  this  level  is  breached  in  the  near  term, with  a  target  price  of  MYR1.31.  In  the  meantime,  the  stock  may consolidate  further  if  the  MYR1.18  level  cannot  be  breached. Support  may  then  be  found  at  MYR1.09,  where  traders  can  exit upon a breach.

 

Ewein was testing the MYR1.01 resistance level in its latest session. Traders  may  buy  if  this  level  is  breached  in  the  near  term,  with  a target  price  of  MYR1.17,  assuming  the  MYR1.09  level  can  be surpassed.  In  the  meantime,  the  stock  may  consolidate  further  if the MYR1.01 level cannot be breached. Support may then be found at MYR0.945, where traders can exit upon a breach.

 

Efficient  E-Solutions  may  trend  higher  after  breaching  the MYR0.265  level  in  its  latest  session.  Traders  may  buy  as  a   bullishbias  could  be  present  above  this  level,  with  a  target  price  of MYR0.29, followed by MYR0.32. The stock may take a breather if it cannot  sustain  above  the  MYR0.265  mark.  In  this  case,  further support  is  anticipated  at  MYR0.24,  where  traders  can  exit  upon  a breach.

 

OpenSys  was  testing  the  MYR0.315  resistance  level  in  its  latest session.  Traders  may  buy  if  this  level  is  breached  in  the  near  term, with  a  target  price  of  MYR0.345,  followed  by  MYR0.36.  In  the meantime, the stock may consolidate further if the  MYR0.315 level cannot  be  breached.  Support  may  then  be  found  at  MYR0.29, where traders can exit upon a breach.

 

C.I. Holdings may trend higher after breaching the MYR2.59 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR3.00. The stock may take a breather if it cannot sustain above the MYR2.59 mark. In this case, further  support  is  anticipated  at  MYR2.35,  where  traders  can  exit upon a breach to avoid the risk of a further correction.

 

IFCA  MSC  may  trend  higher  after  breaching  the  downtrend  line  to cross the 100-day MAV line in its latest session. Traders may buy as a  bullish  bias  could  be  present  above  the  MYR0.91  level,  with  a target  price of MYR1.03, followed by MYR1.08.  The stock may drift lower  if  it  cannot  sustain  above  the  MYR0.91  mark.  In  this  case, further  support  is  anticipated  at  MYR0.845,  where  traders  can  exit upon a breach.

Source: RHB Research - 23 Nov 2015

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