RHB Research

Trading Stocks - 12 February 2016 - IOI Corp | Mitra | BJCorp | Poh Kong | Scientex | Jetson

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Publish date: Fri, 12 Feb 2016, 11:01 AM
 

Trading Stocks - 12 February 2016

 

 

Poh Kong may rebound further after recently breaching the downtrend line. Traders may buy as a bullish bias could be present above the MYR0.52 level, with a target price of MYR0.575, followed by MYR0.60. The stock may drift lower if it dips back below the MYR0.52 mark. In this case, support is anticipated at MYR0.48, where traders can exit upon a breach to avoid the risk of a further correction.

Berjaya Corporation may trend higher after breaching the MYR0.40 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.45, followed by MYR0.475. The stock may turn sideways if it falls back below the MYR0.40 mark. In this case, support is anticipated at MYR0.375, where traders can exit upon a breach.

 

 

Scientex was testing the MYR11.28 level in its latest session while reaching a new high. Traders may buy if this level is breached in the near term, with a target price of MYR11.70, followed by MYR12.80. In the meantime, the stock may consolidate further if the MYR11.28level cannot be surpassed. Further support may then be found at MYR10.22, where traders can exit upon a breach to avoid the risk of a further correction.

Kumpulan Jetson may experience a further technical rebound after recently recovering above the MYR0.265 level. Traders may buywith target prices at MYR0.295 and MYR0.315, as a short-termbullish bias could be present above this level. The stock may drift lower if it falls back below the MYR0.265 mark. In this case, support is anticipated at MYR0.25, where traders can exit upon a breach.

 

 

Mitrajaya rebounded to test the MYR1.15 level in the recent sessions. Traders may buy if this level is breached in the near term, with a target price of MYR1.22, followed by MYR1.30. In the meantime, the stock may consolidate further if the MYR1.15 level cannot be surpassed. Further support may then be found at MYR1.02, where traders can exit upon a breach.

IOI Corporation is still on a valid uptrend despite taking a breather recently. Traders may buy as a bullish bias could be present above MYR4.50, with a target price of MYR5.00, assuming the MYR4.85 level can be breached. The stock may drift sideways if it dips back below the MYR4.50 mark. In this scenario, support is anticipated at MYR4.32, where traders can exit upon a breach.

 

Source: RHB Research - 12 Feb 2016

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