Tuesday 20 November 2012

Daily Trading Stocks - DRB Hicom | Tiger Synergy | Pantech | MBM Resources | IOI Corp | Pestech | Mudajaya | Pacific & Orient


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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