Thursday 22 November 2012

Daily Trading Stocks - KNM | Alam Maritim | Mah Sing | Boustead Heavy Industries | Texchem | MAA | E&O | Hovid


KNM  may  rebound  after  forming  three  white  candles  in  a  row.  A purchase can be made above RM0.50, with a close below RM0.48 as a stop-loss. The price target is the gap of RM0.57, and if broken, the recent high of RM0.62. A  close below RM0.48 should see the stock lower, with supports expected at RM0.45 and RM0.40.
Alam  may  resume  its  rebound  after  closing  the  highest  in  seven days.  A  purchase  can  be  initiated  above  RM0.685,  with  a  close below  RM0.665  as  a  stop-loss.  The  price  target  is  RM0.84,  with selling  expected  at  RM0.785.  Failure  to  break  above  RM0.725  will likely see the stock trade sideways, while selling may intensify on a close below RM0.665.
Mah Sing’s month-long sideways consolidation may end in an upside move  if  it  closes  above  RM2.30.  A  position  can  be  initiated  if  it happens, with a close below RM2.20 as a stop-loss. The price target is  RM2.75,  should  the  recent  high  of  RM2.45  be  broken.  Failure  to break  above  RM2.30  should  see  the  stock  lower,  with  supports expected at RM2.10 and RM2.00.
BHIC  fails  to  keep  above  RM2.50.  A  trader  can  liquidate  below RM2.50,  while  support  is  expected  at  RM2.30,  and  if  broken,  the recent  low  of  RM2.00.  A  close  above  October’s  high  of  RM2.55 could  see  the  stock  higher  and  resistance  levels  are  anticipated  at RM2.65 and RM2.80. 
Texchem  may  rally  after  closing  the  highest  in  more  than  a  year.  A position  can  be  initiated  above yesterday’s low of RM0.66, with  a close  below  it  as  a  stop-loss.  The  price  targets  are  prior  highs  of RM0.765  and  RM0.90.  Failure  to  stay  above  RM0.66  may  see  the stock sideways with supports seen at RM0.62 and RM0.57.
MAA’s  rebound  may  resume  if  it  can  stay  above  the  psychological RM0.50. A purchase can  be made if the  stock stays above RM0.52, with a close below RM0.50 as a stop-loss. The price targets are prior highs  of  RM0.55  and  RM0.625.  Failure  to  stay  above  RM0.50  will likey  see  the  stock  lower,  with  supports  expected  at  RM0.45  and RM0.42.
E&O  may  decline  after  failing  the  test  of  RM1.70  in  the  past  four months.  A  trader  can  liquidate  if  the  stock  closes  below  RM1.60, with  support  expected  at  RM1.50  and  RM1.30.  Failure  to  break above  RM1.60  will  likely  see  the  stock  trend  sideways  and  upside bias will be restored on a close above RM1.70.
Hovid  may  resume  its  rebound  after  a  firmer  close  yesterday.  A purchase  can  be  made  above  RM0.25,  with  a  close  below  last week’s low of RM0.24  as  a  stop-loss.  The  price  targets  are  prior highs of RM0.30 and RM0.35. Failure to stay above RM0.26 may see the stock lower, with support expected at RM0.22 and RM0.20.

Source: OSK

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