RHB Research

Trading Stocks - 17 February 2016 - VS | SKPETRO | Perisai | Coastal | Focus Lumber | SHH

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Publish date: Wed, 17 Feb 2016, 09:57 AM
 

 

V.S. Industry may experience a further technical rebound after recently forming a “Bullish Harami” amid oversold conditions. Traders may buy as a bullish bias could be present above the MYR1.23 level, with a target price of MYR1.40, provided the MYR1.30 resistance level can be surpassed. The stock may drift lower if it dip below the MYR1.23 mark. In this case, support is anticipated at MYR1.15, where traders can exit upon a breach.

SHH Resources was testing the MYR1.98 level in its latest session following a technical rebound. The stock may climb higher if it breaches this level in the near term, with a target price of MYR2.16, followed by MYR2.32. In the meantime, the stock may move sideways if the MY1.98 mark cannot be breached. Further support may then be found at MYR1.76, where traders can exit upon a breach.

 

 

Coastal Contracts may experience a further technical rebound after surpassing the MYR1.62 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.88, provided the MYR1.77 minor resistance level can be breached. The stock may drift sideways if it falls back below the MYR1.62 mark. In this case, support is anticipated at MYR1.52, where traders can exit upon a breach.

SapuraKencana Petroleum may climb higher after surpassing the MYR1.89 level and 50-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 MYR2.05, followed by MYR2.26. The stock may consolidate further if it dips back below the MYR1.89 mark. In this case, support is anticipated at MYR1.75, where traders can exit upon a breach.

 

 

 

Perisai Petroleum Teknologi was testing the MYR0.29 level in its latest session after crossing above the 50-day MAV line. The stock may experience a further technical rebound if it breaches this level in the near term, with a target price of MYR0.33. In the meantime, the stock may move sideways if the MY0.29 mark cannot be breached. Further support may then be found at MYR0.255, where traders can exit upon a breach to avoid the risk of a further correction.

Focus Lumber was testing the MYR2.43 level in its latest session after breaching the downtrend line. The stock may rebound further if it breaches this level in the near term, with a target price of MYR2.66. In the meantime, the stock may consolidate if the MY2.43 mark cannot be breached in the near term. Further support may then be found at MYR2.26, where traders can exit upon a breach to avoid the risk of a further correction.

 

Source: RHB Research - 17 Feb 2016

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