ES  Ceramics  Technology  may  trend  higher  after  closing  above  the MYR0.50 level to cross the 50-day MAV line in its latest session. The stock may have a bullish bias trading above this point, with a targetprice of MYR0.55,  followed by MYR0.60. On the other hand, it may take  a  further  breather  if  it  dips  back  below  the  MYR0.50  mark. Support may be found  at MYR0.46, where traders can exit upon a breach to avoid the risk of a further correction.

Ho Hup Construction  may rebound further after surging  above  the 50-day MAV line and  MYR0.88  level. A bullish bias may be present above  this  mark,  with  a  target  price  of  MYR0.97,  followed  by MYR1.06.  The  stock  may  drift  sideways  if  it  falls  back  below  the MYR0.88  mark.  In  this  case,  support  is  anticipated  at  MYR0.82, where traders can exit upon a breach.

Managepay Systems  may rebound  further  after climbing above the MYR0.25  level  in  its  latest  session.  A  bullish  bias  may  be  present above  this  level,  with  a  target  price  of  MYR0.295.  The  stock  may drift  sideways  if it  dips back below  the MYR0.25  mark. In this case, support is anticipated  at MYR0.225, where traders can exit upon a breach.

Yong  Tai  was  testing  the  MYR0.82  level  again  in  its  latest  session. The  stock  may  trend  upwards  if  it  breaches  this  point  in  the  near term,  with  a  target  price  of  MYR0.935.  On  the  other  hand,  it  may trend sideways if the MYR0.82  mark cannot be surpassed.  Support may be found at MYR0.755,  where traders can exit upon a breachto avoid the risk of a further correction.

Tenaga Nasional  may trend higher after breaching the MYR13.60 in its latest session. The stock may climb higher if it maintains above this level in the near term, with a target price of MYR15.20. On the other  hand,  it  may  move  sideways  if  it  cannot  sustain  above  the MYR13.60 mark. Support may be found at MYR13.12, where traders can exit upon a breach to avoid the risk of a further correction.

IJM Corporation may climb further after breaching the MYR3.48 in its  latest  session.  A  bullish  bias  may  be  present  above  this  poin t, with  a  target  price  of  MYR3.75,  followed  by  the  round  number MYR4.00.  It may consolidate as  before  if  it cannot  hold above the MYR3.48  mark.  Further  support  may  be  found  at  MYR3.30,  where traders  can  exit  upon  a  breach  to  avoid  the  risk  of  a  further correction.

Source: RHB Research - 23 Mar 2016