RHB Research

Trading Stocks - 28 March 2016 - KNM | Eco World | GKENT | Cypark | TMC Life | Pintaras

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Publish date: Mon, 28 Mar 2016, 09:22 AM

KNM  Group  was  challenging  the  MYR0.50  resistance  level  in  its latest session. The stock may climb higher if it breaches this point in the near term, with a target price of MYR0.55. On the other hand, it may consolidate further if the MYR0.50 mark cannot be surpassed. Support  may  be  found  at  MYR0.47,  where  traders  can  exit  upon  a breach.

 

Eco World Development Group was testing the MYR1.50 level in its latest session. The stock may trend upwards if it surpasses this level in the coming sessions, with a target price of MYR1.63. Meanwhile, it  may  move  sideways  if  the  MYR1.50  mark  cannot  be  surpassed. Support  may  be  found  at  MYR1.43,  where  traders  can  exit  upon  a breach to avoid the risk of a further correction.

 

George  Kent  touched  the  MYR1.77  level  again  in  its  latest  session. The upside potential is likely greater if the stock breaches this point in the  near term, with a target price of MYR2.00. In the meantime, it  may  trade  sideways  if  the  MYR1.77  resistance  level  proves  to  be strong.  Support  may  be  found  at  MYR1.67,  where  traders  can  exit upon a breach to avoid the risk of a further correction.

 

Cypark  Resources  reached  the  MYR1.97  resistance  level  after  the recent  bullish  run.  The  stock  may  resume  its  uptrend  if  it  breaches this level in the near term, with a target price of MYR2.15, followed by  MYR2.30.  On  the  other  hand,  it  may  take  a  breather  if  the MYR1.97  mark  cannot  be  surpassed.  Support  may  be  found  at MYR1.82, where traders can exit upon a breach to avoid the risk of a further correction.

 

TMC Life Sciences was testing the MYR0.73 level in its latest session. Although  potentially  overbought,  the  stock  may  eventually  trend upwards  if  it  breaches  this  level,  with  a  target  price  of  MYR0.81, followed  by  MYR0.85.  On  the  other  hand,  it  may  experience  a correction if the MYR0.73 mark cannot be surpassed firmly. Support may be found at MYR0.65, where traders can exit upon a breach to avoid the risk of a further correction.

 

Pintaras Jaya may soon test the MYR3.67 level after the recent rally. The  stock  may  trend  higher  if  it  surpasses  this  barrier  in  the  near term,  with  a  target  price  of  MYR4.00.  On  the  other  hand,  it  may turn  sideways  if  the  MYR3.67  mark  cannot  be  surpassed  going forward. Support may be found at MYR3.35, where traders can exit upon a breach to avoid the risk of a further correction.

Source: RHB Research - 28 Mar 2016

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