RHB Research

Trading Stocks - 26 November 2015 - WCT | PCHEM | Favelle | SBC | Emas Kiara | Kossan

kiasutrader
Publish date: Thu, 26 Nov 2015, 09:28 AM

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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