RHB Research

Trading Stocks - 3 March 2016 - LCTH | PMETAL | SapuraKencana | GASM | Anzo | Mitrajaya

kiasutrader
Publish date: Thu, 03 Mar 2016, 09:19 AM

LCTH Corporation may rebound further after recovering above the MYR0.645 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.725. The stock may consolidate further if it cannot sustain above the MYR0.645 mark. In this case, support is anticipated at MYR0.59, where traders can exit upon a breach.

 

Press Metal may climb higher after gaining above the MYR2.19 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR2.54, assuming the MYR2.38 resistance can be breached. The stock may turn sideways if it cannot hold above the MYR2.19 mark. In this case, support is anticipated at MYR2.03, where traders can exit upon abreach.

SapuraKencana Petroleum was testing the MYR2.05 resistance level in its latest session. The stock may climb further if breaches this level in the near term, with a target price of MYR2.26. On the other hand, it may move sideways if the MYR2.05 mark cannot be surpassed. Support may be found at MYR1.88, where traders can exit upon a breach.

 

Gas Malaysia was testing the MYR2.50 level in its latest session. The stock may trend upwards if violates this level in the near term, with a target price of MYR2.85, assuming the MYR2.63 resistance can be breached. On the other hand, it may consolidate further if the MYR2.50 mark cannot be surpassed. Support may be found at MYR2.25, where traders can exit upon a breach.

 

Anzo was testing the MYR0.255 resistance level in its latest session. The stock may climb further if breaches this level in the near term, with a target price of MYR0.275, followed by MYR0.305. On the other hand, it may take a further breather if the MYR0.255 mark cannot be surpassed. Support may be found at MYR0.225, where traders can exit upon a breach.

 

Mitrajaya has been testing the MYR1.18 resistance level recently as it trends closely with the 50-day MAV line. The upward momentum may pick up if it surpasses this level in the near term, with a target price of MYR1.30. On the other hand, it may continue trading sideways if the MYR1.18 mark cannot be breached. Support may be found at MYR1.13, where traders can exit upon a breach to avoid the risk of a further correction.

Source: RHB Research - 3 Mar 2016

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