Top  Glove  Corporation  may  trend  higher  after  surpassing  the MYR11.46 level to extend its new high in its latest session.  Traders may buy as a bullish  bias could be present above this  level, with a target price of MYR13.00.  The stock may experience a breather if it dips back below the MYR11.46 level. In this case, further support is anticipated at MYR10.64, where  traders can exit upon a breach  to avoid the risk of a further correction.

Tek Seng  may trend higher after  surpassing the MYR0.88  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  MYR1.00. The  stock  may  drift  sideways  if  it  dips  back  below  the  MYR0.88level.  In  this  case,  further  support  is  anticipated  at  MYR0.835, where  traders can exit upon a breach to avoid the risk of a further correction.

Suria  Capital  may  rebound  further  after  forming  a  “Bullish Engulfing”  pattern  in its latest session.  Traders may buy as a bullish bias could be present above the MYR2.43  level, with a target price of MY2.58, followed by MYR2.69.  The stock may  drift sideways  if it cannot  breach  the  MYR2.43  level.  In  this  case,  further  support  is anticipated  at  MYR2.30,  where  traders  can  exit  upon  a  breach  to avoid the risk of a further correction.

Muda  Holdings  may  rebound  further  after  forming  a  “Bullish Harami”  pattern  in  its  latest  session.  Traders  may  buy  as  a  bullish bias could be present above the MYR1.89  level, with a target price of MY2.02, followed by MYR2.18.  The stock may drift sideways if it cannot  breach  the  MYR1.89  level.  In  this  case,  further  support  is anticipated  at  MYR1.77,  where  traders  can  exit  upon  a  breach  to avoid the risk of a further correction.

V.S  Industry  may  resume  its  uptrend  after  recovering  back  above the  50-day  MAV  line  in  its  latest  session.  Traders  may  buy  as  a bullish bias could be present above the MYR1.55 level, with a target price  of  MY1.77,  provided  the  MYR1.62  level  can  be  surpassed.  In the meantime the stock may consolidate further if it cannot sustain above the MYR1.55 level. In this  case, further support is anticipated at MYR1.47, where  traders can exit upon a breach to avoid the risk of a further correction.

AirAsia may fall further after breaching the MYR1.32 level and 100-day  MAV  line  in  its latest  session.  Traders  may  expect  further weakness  if  the stock stays below this level, with  the  next support levels anticipated at MYR1.20,  and  followed by MYR1.11.  The stock may  trend  sideways  if  it  recovers  back  above  the  MYR1.32  mark. The  bearish  bias  may  be  eliminated  if  it  rebounds  above  the MYR1.42 level.

Source: RHB Research - 16 Dec 2015