PetGas is likely
to trade higher after breaking above the
3-month resistance of RM17.00. Purchases can be made above RM17.00 with a
stop loss on close below the 3-month low
of RM16.00. The price target is RM20.50 with resistance also expected at
RM18.00. The trade will not work out if the stop loss is triggered and expect
strong support at RM15.00.
Look for YHS to
trade higher after closing above the psychological RM3.00 for 2 days in a row.
Positions can be initiated above this level with a stop loss on close
below the recent low of RM2.84. An aggressive
trade may exit below RM3.00. The price target is RM3.50 and the
psychological RM4.00. A correction may set in should the stop
loss be triggered but expect strong
support at the gap of RM2.65.
MAS’ downtrend is
expected to continue as long as it stays below the broken support of RM1.28.
Thus, positions can be liquidated below the level. Strong support is,
nonetheless, expected at RM1.00 and a successful violation of this level should
see the stock go lower. Strong resistance is at RM1.28 and a rebound will only
commence on a successful violation of this level.
AirAsia - Weakness
seen early this week was not confirmed
and as a result, buying resumed. The stock has also broken the 9-month downtrend.
As identified previously, purchases can be made above RM3.60 with a close below
RM3.50 as the stop loss.
The price target is the psychological RM4.00, followed by all-time
high of RM4.20. However, expect heavy selling should the stop loss be triggered. Support lies at RM3.20 and
RM3.00.
Perisai may trade
higher after closing above RM0.90 for 2 days in a row. Positions can be
initiated above RM0.90 with a close below the month-low of RM0.86 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.
Cybertowers
should continue to trade higher as long as it stays above RM1.20. Thus,
positions can be initiated above this level with a close below the 6-day low of
RM1.15 as the stop loss. Given that it is at an all-time-high, the price target
is the round figure of RM1.50. A correction may ensue should the stop loss be triggered and expect support at the
psychological RM1.00 and March-high of RM0.8.
Source: OSK188
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