DAILY TRADING STOCKS: KULIM, OLDTOWN, POS, NOTION, TDM, MHC, CREST, PERISAI

Kulim may resume its uptrend after  the firmer  close  yesterday.  A purchase can be made as long as the stock closes above RM4.60. A close below yesterday’s low of RM4.47 can be employed as stoploss. The price target is RM5.60 provided that the psychological RM5.00 is violated. The trade may not work out should the stoploss be triggered. Expect strong support at RM4.20.

OldTown may have formed a higher bottom after the firm close yesterday.  A purchase can be made above the prior 4-day high of RM1.40, with a stop-loss on a close below the broken resistance at RM1.34. The price target is RM1.70, provided that the recent high of RM1.60 is broken. The correction is expected to continue if the stop-loss is triggered but strong support lies at RM1.15.

Pos Malaysia may trade higher after overcoming the negative bias of the  “Long Black Day” of 15 May. A position can be initiated above RM2.75, with a stop-loss on  a  close below yesterday’s low of RM2.66. The price target is RM3.22, provided that the psychological RM3.00 is violated. The upward bias is nullified should the stop loss is triggered and weakness is confirmed on a close below RM2.60. Expect support at the prior lows of RM2.45 and RM2.20.

Notion appears to be making a bottom after forming a “Long White Day” last Thursday. A purchase can be made on a close above the candle high of RM1.16, with a close below recent low of RM1.10 as stop-loss. The price target is RM1.60, provided that the recent high of RM1.30 is broken.  Look for correction to continue if it closes below RM1.10 and supports are expected at  the  Fibonacci retracement of the Sep-Apr rally at RM1.00 and RM0.95.

A rebound  may  be in store for TDM after it formed a “Hammer” yesterday.  A position can be initiated above the 2-day high of RM4.14, with a stop-loss on a close below the recent low of RM4.00. The price target is the gap of 16 May at RM4.50 and the recent high of psychological RM5.00. The upward bias will be erased should the stop-loss be triggered and expect the correction to continue. Strong support is at 25 Nov gap of RM3.50.

MHC may resume its uptrend as it may have support at 22 Mar gap of RM1.67. A purchase can be undertaken on a close above  the 3-day high of RM1.74, with a close below RM1.67 as stop-loss.  The price target is RM2.50, if the recent high of RM2.00 is successfully broken. However, look for the correction to continue should the stop-loss be triggered. Supports lie at the psychological RM1.50 and prior resistance at RM1.38.

Crest Builder may resume its upward move after closing above the psychological RM1.00 yesterday. Position can be initiated above the level with a close below recent low of RM0.95 as stop loss. Price

target is  RM1.30, should the recent high of RM1.10 is broken. The trigger of stop loss may lead to a correction. Supports are at RM0.90 and RM0.83.

Perisai may trade higher after closing firmer yesterday. Positions can be initiated above yesterday’s high of RM0.88 with a close below recent low of RM0.835 as the stop loss. The price target is RM1.30, provided that the psychological RM1.00 is violated. Selling likely takes over if the stop loss is triggered and strong support is expected at RM0.80.

Source: OSK