UMW  Oil  &  Gas  Corporation  may  experience  a  further  technical rebound after inching above 50-day SMA line and MYR0.95 level in its  latest  session.  A  bullish  bias  may  be  present  above  this  point, with a target price of MYR1.01, followed by MYR1.10. However, the stock may drift lower if it dips back below the MYR0.95 mark in the near  term.  Support  may  then  be  found  at  MYR0.90,  where  traders can exit upon a breach.

Mitrajaya  was  testing  the  MYR1.30  resistance  level  in  its  latest session.  The  stock  may  trend  higher  if  it  breaches  this  level  in  the near  term,  with  a  target  price  of  MYR1.50.  On  the  other  hand,  it may  turn  sideways  if  the  MYR1.30  mark  cannot  be  breached. Support  may  be  found  at  MYR1.18  where  traders  can  exit  upon  a breach to avoid the risk of a further correction.

AWC  was  testing  the  MYR0.48  resistance  level  in  its  latest  session. The stock may trend higher if it breaches this level in the near term, with  a  target  price  of  MYR0.525,  followed  by  MYR0.555.  On  the other  hand,  it  may  turn  sideways  if  the  MYR0.48  mark  cannot  be breached.  Support  may  be  found  at  MYR0.435  where  traders  can exit upon a breach to avoid the risk of a further correction.

Pan Malaysia Corporation was  testing the MYR0.29 resistance level in  its  latest  session.  The  stock  may  climb  higher  if  it  breaches  this level  in  the  near  term,  with  a  target  price  of  MYR0.325.  On  the other  hand,  it  may  drift  sideways  if  the  MYR0.29  mark  cannot  be breached.  Support  may  be  found  at  MYR0.265  where  traders  can exit upon a breach.

Malaysian  Bulk  Carriers  may  trend  higher  after  extending  its  climb above  the  MYR0.945  level  in  its  latest  session,  despite  its overbought  condition.  A  bullish  bias  may  be  present  above  this point, with a target price of MYR1.08. However, the stock may face a  correction  if  it  dips  back  below  the  MYR0.945  mark  in  the  near term.  Support  may  then  be  found  at  MYR0.89,  where  traders  can exit upon a breach to avoid the risk of a further correction.

BIMB  is  still  above  the  uptrend  line  and  was  testing  the  MYR4.00 level  in  its  latest  session.  The  stock  may  climb  higher  if  it  breaches this level in the near term, with a target price of MYR4.40, assuming the  MYR4.28  resistance  can  be  breached.  Meanwhile,  it  may experience some pullback if the MYR4.00 mark cannot be breached firmly.  Support  may  be  found  at  MYR3.70  where  traders  can  exit upon a breach to avoid the risk of a further correction.

Source: RHB Research - 14 Apr 2016