RHB Research

Trading Stocks - 21 January 2016 - Farm’s Best | Ta Ann | Spritzer | MYEG | Prestariang | Mitrajaya

kiasutrader
Publish date: Thu, 21 Jan 2016, 09:34 AM

Farm’s Best  was testing the MYR0.725  resistance level in its latest session. Traders may buy if this level is breached in the near term, with  a  target  price  of  MYR0.83.  In  the  meantime,  the  stock  may move sideways if the MYR0.725  level cannot be breached. Support may be found at MYR0.68, where traders can exit upon a breach.

 

Ta Ann  was attempting to rebound after recently forming a “Bullish Harami” pattern. Traders may buy as a bullish bias could be present above the MYR5.35  level, with a target price of MYR5.90, assuming the MYR5.50 resistance can be surpassed. The stock may drift lower if it cannot surpass the MYR5.35 mark in the near term. In this case, further  support  is  anticipated  at  MYR4.98,  where  traders  can  exit upon a breach.

 

Spritzer  is  still  on  a  valid  uptrend  after  recently  surpassing  the MYR2.22 level.  Traders may buy as a bullish  bias could be present above  this  level,  with  a  target  price  of  MYR2.54,  assuming  the MYR2.40 level can be surpassed.  The stock may drift sideways if it falls below the MYR2.22  mark in the near term. In this case, further support  is  anticipated  at  MYR2.10,  where  traders  can  exit  upon  a breach.

 

My  E.G.  Services  is  still  on  a  valid  uptrend  despite  the  recent correction. Traders may buy as a bullish bias could be present above the MYR2.06  level, with a target price of MYR2.38.  The  stock may drift lower  if it falls  below the  MYR2.06 mark in the  near  term. In this case, further support is anticipated at MYR1.98, where  traders can exit upon a breach

 

Prestariang  is still on a valid uptrend despite  the  recent correction. Traders  may  buy  as  a  bullish  bias  could  be  present  above  the MYR2.95  level, with a target price of MYR3.27.  The stock may drift lower  if  it  falls  below  the  MYR2.95  mark  in  the  near  term.  In  this case, further support is anticipated at MYR2.80, where  traders can exit upon a breach.

 

Mitrajaya may experience further weakness after inching  below the MYR1.16  level  in  its  latest  session,  albeit  marginally.  Traders  may expect  further  selling  if  it  stays  below  this  level  in  the  immediate term, with the next support levels anticipated at MYR1.07, followedby  MYR1.00.  The  stock  may  consolidate  again  if  it  recovers  back above  the  MYR1.16  level.  The  technical  outlook  may  improve  if  it breaches the MYR1.22 level.

Source: RHB Research - 21 Jan 2016

 

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