Globetronics  Technology  may  rebound  further  after  recovering above  the  MYR5.56  level,  albeit  marginally  –  following  its  recent breach  in  the  downtrend  line.  Traders  may  buy  as  a  bullish  bias could  be  present  above  this  level,  with  a  target  price  of  MYR6.10. The stock may drift sideways if it cannot sustain above the MYR5.56 mark. In this case, support is anticipated at MYR5.19, where traders can exit upon a breach.

Formosa  Prosonic  Industries  (FPI)  may  trend  higher  after  inching above the MYR0.94 level in  its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.15,  assuming  the  MYR1.04  resistance  can  be  surpassed.  The stock may drift sideways if it dips back below the MYR0.94 mark. In this case, support is anticipated at MYR0.00, where traders can exit upon a breach to avoid the risk of a further correction.

AirAsia  may  trend  higher  after  breaching  the  MYR1.45  level  firmly. Traders  may  buy  if  the  stock  sustains  above  this  level  in  the  near term,  with  a  target  price  of  MYR1.71,  assuming  the  MYR1.61  level can  be  surpassed.  The  stock  may  trade  sideways  if  it  falls  back below the MYR1.45 mark. In this case, further support is anticipated at MYR1.37, where traders can exit upon a breach to avoid the risk of a further correction.

AirAsia X may trend higher after breaching the MYR0.25 level in its latest session. Traders may buy if the stock holds above this level in the  near  term,  with  a  target  price  of  MYR0.275,  followed  by MYR0.30.  The  stock  may  drift  sideways  if  it  falls  back  below  the MYR0.25  mark.  In  this  case,  further  support  is  anticipated  at MYR0.225, where traders can exit upon a breach to avoid the risk of a further correction.

Ge-Shen  Corporation  may  experience  a  technical  rebound  after forming  a  bullish  “Hammer” pattern in its latest session. Traders may  buy  if  the  stock  sustains  above  the  MYR1.81  level  in  the immediate  term,  with  a  short-term  target  price  of  MYR2.10.  The stock may drift sideways if it cannot hold above the MYR1.81 mark in  the  near  term.  In  this  case,  support  is  anticipated  at  MYR1.67, where traders can  exit upon a breach to avoid  the risk of a  further correction.

Genting  may  climb  further  as  its  short-term  uptrend  is  intact especially  after  its  latest  close  above  the  MYR8.00  level.  Traders may buy if the stock sustains above this level in the near term, with a target price of MYR9.20, assuming the MYR8.50 resistance can be surpassed. The stock may consolidate further if it cannot hold above the MYR8.00 mark in the near term. In this case, further support  is anticipated  at  MYR7.50,  where  traders  can  exit  upon  a  breach  to avoid the risk of a further correction.

Source: RHB Research - 2 Mar 2016