PRG may trend higher after surpassing the MYR1.05 level in its latest session to reach a multi-year high, albeit marginally. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.19. The stok may drift sideways if it cannot surpass the MYR1.05 mark in the near term. In this case, further support is anticipated at MYR0.995, where traders can exit upon a breach to avoid the risk of a further correction.
Fiamma could move higher after it climbed passed the downtrend line and MYR2.27 level in its latest session, albeit marginally. Traders may buy as a bullish bias could be present above this level, with a target price of MYR2.50, followed by MYR2.72. The stock may drift sideways if it dips back below the MYR2.27 mark in the near term. In this case, further support is anticipated at MYR2.08, where traders can exit upon a breach to avoid the risk of a further correction.
CCK Consolidated may trend higher after jumping above the MYR1.14 level in its latest session to hit a new high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.38. The stock may drift sideways if it falls back below the MYR1.14 mark. In this case, further support is anticipated at MYR1.04, where traders can exit upon a breach to avoid the risk of a further correction.
JAKS Resources may rebound further after recently forming a “Bullish Harami” pattern. Traders may buy as a bullish bias could be present above the MYR1.08 level, with a target price of MYR1.18. The stock may drift lower if it cannot surpass the MYR1.08 mark in the near term. In this case, further support is anticipated at MYR1.01, where traders can exit upon a breach.
Media Chinese International was testing the MYR0.655 level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR0.72, followed by MYR0.765. In the meantime, the stock may move sideways if the MYR0.655 level cannot be breached. Support may be found at MYR0.61, where traders can exit upon a breach to avoid the risk of a further correction.
Top Glove Corporation may experience a further correction after inching below the MYR6.50 level in its latest session. Traders may expect further weakness if it stays below this level in the near term, with the next support levels anticipated at MYR5.94, followed by MYR5.50. The stock may move sideways if it recovers back above the MYR6.50 level. The bullish bias will likely return if it is able to surpass the MYR7.00 level. Note that the longer-term trend is still largely positive.
Source: RHB Research - 27 Jan 2016
Chart | Stock Name | Last | Change | Volume |
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Created by kiasutrader | Jun 14, 2016
Created by kiasutrader | May 05, 2016
8illionaire
CCK strong
2016-01-27 16:37