Mycron Steel may trend higher after breaching the MYR0.42 level in its latest session to reach a new 52-week high. A bullish bias may be present above this point, with a target price of MYR0.50. On the other hand, the stock may drift sideways if it dips back below the MYR0.42 level. Support may be found at MYR0.40, where traders can exit upon a breach to avoid the risk of a further correction. Note that a stronger support is expected at MYR0.365.
Kerjaya Prospek Group may climb further after surpassing the MYR1.86 level to extend its mulit-year high in its latest session. A bullish bias may be present above this point, with a target price of MYR2.10, followed by MYR2.30. The stock may consolidate furtherif it retraces below the MYR1.86 level in the near term. Support may be found at MYR1.76, where traders can exit upon a breach to avoid the risk of a further correction.
Destini rebounded to test the MYR0.61 level in its latest session in after a period of correction. The bullish bias may be enhanced if the stock surpasses this point in the near term, with a target price of MYR0.68, provided the MYR0.635 resistance can be violated. However, it may consolidate further if the MYR0.61 mark cannot be surpassed. Support may be found at MYR0.575 where traders can exit upon a breach to avoid the risk of a further correction.
Melewar Industrial Group rebounded to test the MYR0.34 level in its latest session after a period of correction recently. The bullish bias may be enhanced if the stock surpasses this point in the near term, with a target price of MYR0.37, followed by MYR0.41. However, it may drift sideways if the MYR0.34 mark cannot be surpassed. Support may be found at MYR0.31 where traders can exit upon a breach to avoid the risk of a further correction.
Pasdec was testing the MYR0.395 level in its latest session. The bullish bias may be enhanced if the stock surpasses this point in the near term, with a target price of MYR0.42, followed by MYR0.45. However, it may take a breather if the MYR0.395 mark cannot be surpassed. Support may be found at MYR0.345 where traders can exit upon a breach to avoid the risk of a further correction.
Tadmax was testing the MYR0.355 level after crossing below the 50-day SMA line in its latest session. Traders may expect further selling if it falls below this point in the near term, with the next supportanticipated at MYR0.335, followed by MYR0.305. The stock may trade sideways if holds above the MYR0.355 mark. The bullish bias may return if it climbs further above the MYR0.39 level.
Source: RHB Research - 4 May 2016
Chart | Stock Name | Last | Change | Volume |
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Created by kiasutrader | Jun 14, 2016
Created by kiasutrader | May 05, 2016