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DRB Hicom may rebound after the firm close yesterday. A purchase can be made if the stock stays above RM2.45, with a close below RM2.40 as a stop-loss. The price target is the psychological RM3.00, if the August high of RM2.75 is broken. Failure to stay above RM2.45 could see the stock trend lower, with supports expected at RM2.30 and RM2.20.
Tiger may rebound if it closes above the 3-day high of RM0.35. A purchase can be initiated if it happens, with a close below RM0.325 as a stop-loss. The price target is the prior high of RM0.47, with selling also expected at RM0.40. Failure to break higher will likely see the stock trade lower, with supports lying at RM0.30 and RM0.225.
Pantech may scale higher if it stays above RM0.70. A position can be initiated at above RM0.70, with a close below last week’s low of RM0.67 as a stop-loss. The price target is the 2011 high of RM0.80, with selling also expected at RM0.73. The stock is likely to trade sideways if it fails to stay above RM0.70, with support expected at RM0.62.
MBM may fall if it closes below the 2-month support of RM3.40. Liquidation can be made if it happens, or otherwise on a close below RM3.30. Supports is expected at RM3.00, and if that fails, at RM2.80. Failure to close below RM3.30 could see the stock rebound and resistance are at RM3.70 and RM4.00.
IOI Corp may decline further if it closes below the 1-year support of RM4.90. A position can be liquidated if it happens, with support expected at RM4.50, and failing that, at RM4.35. The stock may rebound if it fails to break below RM4.90 but the negative bias is only cancelled if the stock closes above the October high of RM5.10.
Pestech’s rebound may resume if it can break above the psychological RM1.00. A purchase can be made if the stock stays above RM1.00, with a close below RM0.96 as a stop-loss. The price targets are RM1.10 and RM1.20. Failure to stay above RM1.00 should see the stock go sideways, with support at RM0.90.
Mudajaya may go on a decline after closing at its lowest in more than 3 months. A position can be liquidated as long as the stock stays below RM2.60, or otherwise below RM2.50, with supports seen at RM2.15; failing which, it may fall to RM1.80. Failure to break RM2.50 will likely see the stock track sideways, with strong resistance at RM2.80.
P&O may resume its rally after closing above RM1.20. A purchase can be made if it stays above RM1.20, with a close below RM1.14 as a stop-loss. The price target is RM1.40, if the recent high of RM1.30 is broken. Failure to stay above RM1.20 may see the stock decline, with further supports lying at RM1.04 and RM0.95.
Source: OSK
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