Wednesday 14 November 2012

Daily Trading Stocks - Gadang | Hartalega | Redtone | Dominant Enterprise | IGB Corp | JCY | Delloyd Ventures| YTL Corp


Gadang may climb further after responding well to the “Hammers” of last week. A purchase can be made above RM0.635, with a close below RM0.62 as a stop-loss. The price target is RM0.815, provided that the recent high of RM0.70 is broken. Failure to break RM0.70 should see the stock go sideways, with further supports expected at RM0.60 and RM0.58.
Hartalega should resume its rally if it stays above RM5.00. A purchase can be initiated above RM5.00, with a close below RM4.90 as a stop-loss. The price targets are RM5.25 and RM5.50. Failure to stay above RM5.00 is likely to see the stock trend sideways, and supports are at RM4.70 and RM4.40.
Redtone may scale higher if it stays above the psychological RM0.40. A position can be initiated at above RM0.40, with a close below last Friday’s low of RM0.395 as a stop-loss. The price targets are RM0.455 and RM0.49. The stock is likely to trade sideways if it fails to close higher, with strong support expected RM0.365.
Dominant is on the verge of a breakout as it flirts just below the 7-month resistance. A purchase can be made if it closes above RM0.81, with a close below the recent low of RM0.78 as a stop-loss. The price targets are RM0.85 and RM0.935. Failure to close above RM0.81 should see the stock trend sideways, with strong support at RM0.69.
IGB may resume its decline after closing at its lowest in more than a month. A position can be liquidated below RM2.40 and support is expected at the recent low of RM2.20 and failing that, at RM2.40. The negative bias is likely to be cancelled if it closes above the Oct high of RM2.50, which may lead to higher prices. Resistance are at RM2.60 and RM2.70.
JCY may rebound after closing at its highest in 3 days. A purchase can be made if the stock closes above the 3-day high of RM0.775, with a close below last week’s low of RM0.75 as a stop-loss. The price target is RM0.875, if recent high of RM0.82 is broken. Failure to close higher should see the stock trend sideways, with strong support seen at RM0.66.
Delloyd may go on a decline after closing at its lowest in more than 2 years. A position can be liquidated as long as it stays below RM3.25, and supports are expected at RM2.95 and RM2.65. The negative bias will be nullified should the stock close above RM3.60, with a close above RM3.85 signalling a resumption of the long-term uptrend.
YTL may fall after closing below the 200-day MAV line on Monday. A position can be exited if the stock closes below RM1.70 and supports are at RM1.57 and RM1.45. The weak bias will likely be erased if it closes above RM1.80. If that happens, look for it to rebound instead, with strong resistance at RM2.00.
Source: OSK

No comments:

Post a Comment