DAILY TRADING STOCKS: GENP, THPLNT, CYPARK, NICORP, TIME, MEGB, SALCON, SNTORIA

 Genting Plantation - Look for a correction to set in should the RM9.00 support level beviolated. Liquidation can be undertaken below this level and support is expected at the Fibonacci retracements of the 5-month rally at RM8.20 and RM7.90. However, the uptrend will stay intact if the support level  at  RM9.00  holds  and if this happens, the stock could even go as high as RM12.00

TH Plantation - A rebound could be in store for TH Plantation after  its  firm move last Friday.  A purchase can be made on  a  close above  the “Hammer” high of RM2.34, with a close below  the  recent low of RM2.20 as  a  stop-loss.  The price targets are RM2.60 and RM2.80. But look for the correction to continue should the stop-loss  be triggered. Strong support lies at the area of RM1.90-RM2.00.

Cypark Resource - Cypark’s share price will stay weak as long as it  remains below RM1.80.  Thus, liquidation can be made on  a  rebound towards RM1.80, or on close below last week’s low of RM1.65. The price target is RM1.50, with strong support expected at RM1.35.  A close back above RM1.80 will indicate a false breakdown and an upward move cannot be ruled out. Resistances lie at RM2.00 and RM2.20.

Naim Indah Corporation - The stock may trade lower after closing below the psychological RM0.40 last Friday. Thus, positions can be exited below this level and support may come at RM0.26 and RM0.18, the high and low of the gap of 8 Feb. However, a close back above RM0.44 may signal a false breakdown and  a  rebound may follow. Resistance is at RM0.52 and RM0.60.

Time Engineering - TIME’s sideways move in the past 3 months may make way for lower prices after it closed below RM0.325. Liquidation can be done below this level and support  is expected at RM0.28 and RM0.25. A close back above RM0.325 may indicate a false breakdown, though only a close above RM0.35 will confirm a return of buying. Resistance  is located at RM0.375 and RM0.42.

Master Skill Education Group - Look for Masterskill’s downtrend to continue after closing below the psychological RM1.00 yesterday. Positions can be exited below this level and support  is expected at RM0.90 and RM0.80. A close above  the  3-day high of RM1.03 may indicate a false breakdown and resistance can may come at  the  recent highs of RM1.11 and RM1.20.

Salcon - Salcon’s share price may head lower if it closes below RM0.50 today. Liquidation can be undertaken below this level and support  is expected at RM0.45, with strong support at the Sept-low of RM0.40. A close back above  the 3-day high of RM0.525 may indicate a false breakdown and look for  the stock to trade higher.  Resistance  is at RM0.55 and RM0.60.

Sentoria - Sentoria may trade lower  if it closes below RM0.68 today. Liquidation can be undertaken below this level and support is expected at RM0.575. A close back above RM0.70 may signal a false breakdown and  this  may  even  lead to a  rebound. Resistance is located at the recent highs of RM0.77 and RM0.85.

Source: OSK