RHB Research

Trading Stocks - 9 March 2016 - MYEG | Sern Kou | Latitude | Felda | Gadang | GD Express

kiasutrader
Publish date: Wed, 09 Mar 2016, 09:24 AM

My EG Services  may rebound  after forming a "Bullish Harami"  in its latest  session.  Traders  may  buy  if  the  stock  recovers  above  theMYR2.09  level,  with  a  target  price  of  MYR2.20,  followed  by MYR2.33. The stock may  drift lower  if  it  fails to recover above the MYR2.09  mark  in  the  immediate  term.  In  this  case,  support  is anticipated  at  MYR1.93,  where  traders  can  exit  upon  a  breach  to avoid the risk of a further correction.

 

Sern  Kou  Resorces  may  soon  test  the  MYR0.865  resistance  level given  its  valid  general  uptrend.  The  stock  may  extend  higher  if  it breaches this level in the near term, with a target price of MYR1.00. On the other hand, it may consolidate further if the MYR0.865 mark cannot  be  surpassed.  Support  may  be  found  at  MYR0.81,  where traders  can  exit  upon  a  breach  to  avoid  the  risk  of  a  further correction.

 

Latitude  Tree  may  climb  higher  after  its  bullish  white  candle  in  its latest session amid oversold conditions.  Stronger  technical rebound may  kick  in  if  the  stock  recovers  above  the  MYR5.70  level,  with  a target  price  of  MYR6.25.  The  stock  may  drift  lower  if  it  fails  to recover  above  the  MYR5.70  mark.  In  this  case,  support  is anticipated at MYR5.21, where traders can exit upon a breach.

 

Felda Global Ventures was testing the  MYR1.43 support level  in its latest session. Traders may expect further weakness if it  falls  below this  level  in  the  near  term,  with  the  next  support  anticipated  at MYR1.30.  The  stock  may  gradually  appreciate  if  it  sustains  above the  MYR1.43  mark  in  the  near  term.  The  bearish  bias  may  be eliminated if it regains above MYR1.66.

 

Gadang may experience a further correction after falling below the MYR2.03  level  in  its  latest  session.  Traders  may  expect  further weakness  if  it  stays  below  this  level,  with  the  next  support anticipated  at  MYR1.80.  The  stock  may  consolidate  as  before  if  it rebounds  above  the  MYR2.03  level.  The  bullish  bias  may  be enhanced if it recovers back above MYR2.24.

 


GD  Express  Carrier  may  experience  a  further  correction  after dropping below the MYR1.65  level in its latest session. Traders may expect  further  weakness  if  it  stays  below  this  level,  with  the  next support anticipated at MYR1.52. The stock may trade sideways if it rebounds above the MYR1.65 level in the near term. The bullish bias may return if it recovers back above MYR1.70.

Source: RHB Research - 9 Mar 2016

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