RHB Research

Trading Stocks - 22 December 2015 - Rubberex | JAKS | Ni Hsin | KPS | Denko | Solution Engineering

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Publish date: Tue, 22 Dec 2015, 09:15 AM

Rubberex  Corporation  may  trend  higher  after  surpassing  the MYR0.89  level  in  its  latest  session  to  hit  a  new  multi-year  high. Traders may buy as a bullish  bias could be present above this  level,with  a  target  price  of  MYR1.03,  followed  by  MYR1.09.  The  stock may turn sideways  if it dips back below the MYR0.89  mark. In this case, further support is  anticipated at MYR0.82, where  traders can exit upon a breach to avoid the risk of a further correction.

 


Jaks Resources may trend higher after surpassing the MYR1.22 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 MYR1.44. The sock may consolidate further if it falls back below the  MYR1.22  mark.  In  this  case,  further  support  is  anticipated  at MYR1.16, where  traders can exit upon a breach to avoid the risk of a  further  correction.  Note  that  a  more  significant  support  is anticipated at MYR1.08.

 

Ni Hsin Resources may rebound further after inching above the 50-day  MAV  line  and  MR0.30  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  MYR0.345,  followed  by MYR0.37.  The  stock  may  drift  sideways  if  it  dips  back  below  the MYR0.30  level.  In  this  case,  further  support  is  anticipated  at MYR0.27, where traders can exit upon a breach.

KPS  Consortium  may  trend  higher  after  surpassing  the  MYR0.525level in its latest session to ink a 52-week high. Traders may buy as a bullish  bias could be present above this  level, with a target price of MYR0.58, followed by MYR0.61.  The stock may  consolidate further if  it  dips  back  below  the  MYR0.525  mark.  In  this  case,  further support is anticipated at MYR0.495, where  traders can exit upon a breach to avoid the risk of a further correction.

 

Denko  Industrial  Corporation  may  climb  higher  after  crossing  the MYR0.385  level  in  its  latest  session.  Traders  may  buy  as  a  bullish bias  could  be  present  above  this  level,  with  a  target  price  of MYR0.44, followed by MYR0.475.  The stock may drift sideways if it dips back below the MYR0.385  level. In this case, further support is anticipated at MYR0.355, where  traders can exit upon a breach  to avoid the risk of a further correction.

 

Solution Engineering  was testing the MYR0.42  resistance level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR0.45, followed by MYR0.475. In the meantime, the stock may drift sideways if the MYR0.42 level cannot be  breached.  Support  may  be  found  at  MYR0.395,  where  traders can exit upon a breach to avoid the risk of a further correction.

Source: RHB Research - 22 Dec 2015

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