WCT Holdings may trend higher after inching above the MYR1.52 level in its latest session, albeit marginally. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.66. The stock may consolidate further if it cannot hold above the MYR1.52 level. In this case, further support is anticipated at MYR1.40, where traders can exit upon a breach
Petronas Chemicals Group may trend higher after sustaining above the MYR6.65 level while extending its 52-week high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR7.60. The stock may pull back to consolidate if it dips elow the MYR6.65 mark. In this case, further support is anticipated at MYR6.25, where traders can exit upon a breach to avoid the risk of a further correction
Favelle Favco may trend higher after climbing above the MYR2.60 level to cross the 100-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 MYR2.80, followed by MYR3.00. The stock may consolidate further if it cannot sustain above the MYR2.60 level. In this case, further support is anticipated at MYR2.46, where traders can exit upon a breach.
SBC Corporation may rebound further after breaching the downtrend line. Traders may buy as a bullish bias could be present above the MYR0.85 level, with a target price of MYR0.91, followed by MYR0.98. The stock may turn sideways if it cannot violate the MYR0.85 mark. In this case, support is anticipated at MYR0.785, where traders can exit upon a breach.
Emas Kiara Industries (EKIB) may trend higher after inching above the MYR0.845 level in its latest session to extend its multi-year high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.95. The stock may consolidate further if it cannot sustain above the MYR0.845 mark. In this case, further support is anticipated at MYR0.80, where traders can exit upon a breach.
Kossan Rubber Industries was testing the MYR8.00 support level, after falling below the uptrend line and 50-day MAV line. Traders may expect further weakness if it breaches this level in the near term, with the next support levels anticipated at MYR7.50, followed by MYR7.00. The stock may trend sideways if it holds above the MYR8.00 mark. The bearish bias will likely be eliminated if it rebounds back above the MYR8.50 level.
Source: RHB Research - 26 Nov 2015
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Created by kiasutrader | Jun 14, 2016
Created by kiasutrader | May 05, 2016