DAILY TRADING STOCKS: YTL, AFG, WELLCALL, LIONCOR, SENDAI, GOPENG, MEGB, SECCORP

YTL may resume its upward movement after  the  price  surge yesterday. Purchases can be made on close above RM1.80. The stop loss  point  is  the  late-May low of  RM1.70 and  the  price target is RM2.00. The trade may not work out should the stop loss  be triggered but expect strong support at the recent low of RM1.60.

AFG may have formed a higher bottom after the firmer move yesterday. Thus, positions can be initiated above RM3.85 with a close below RM3.79 as a stop loss. The price target is RM4.70, with resistance also expected at RM4.50. The stock may enter into a correction should the stop loss  be triggered with a close below RM3.70 as the confirmation. Support lies at RM3.50 and RM3.40.

Wellcall may have resumed its upward march after closing higher yesterday.  Purchases can be made above RM1.80, with a close below yesterday’s low of RM1.79 as a stop loss. The price target is the psychological RM2.00, followed by  the  2007-high of RM2.30. A close below RM1.79 may erase the upward bias and a correction may set in on a close below RM1.70. Support is located at RM1.53 and RM1.45.

Lion Corp may stage a rebound after the firmer move yesterday. Positions can be initiated on  a  close above yesterday’s high of RM0.33, with a stop loss on close below the recent low of RM0.30.The price target is RM0.40 and then RM0.45. However, look for the downtrend to resume should the stop loss  be triggered. Support lies at RM0.25 and RM0.20.

Eversendai is likely to trade lower as long as it stays below RM1.65. Thus, liquidation can be made below this level, with support at RM1.55 and RM1.50. However, a close back above RM1.65 may see a return  of buying, and resistance is expected at RM1.70 and  the 2012-high of RM1.80 – both of which have to be violated if the stock is to trade higher.

Gopeng’s sideways consolidation may have broken upward after it closed above  the  RM0.81 resistance level for 2 days in a row. Purchases can be made above RM0.81 with a close below RM0.77 as a stop loss. The price targets are  the prior highs of RM0.87 and RM0.96. The trade may not work if the stock closes below RM0.77 but expect strong support at the 6-month high of RM0.72.

MEGB has to close above yesterday’s high to keep the rebound intact, otherwise a return of selling may emerge. Liquidation can be made at a close below yesterday’s low of RM1.05, and support  is expected  at  the  recent lows of RM0.93 and RM0.80.  However, a close above RM1.10 will nullify the weak bias and see  the stock climb higher. A close above  the RM1.20 resistance level is required for further continuation.

SBC’s rebound may have started after the strong move yesterday that was preceded by a gap. Positions can be initiated above RM0.90 with a close below yesterday’s low of RM0.865 as  a  stop loss. The price target is RM0.97 and then the 2012-high of RM1.05. The trade may not work out if it closes below RM0.865 and support is expected at RM0.80 and RM0.70.

Source: OSK