Maybank’s downside risk will increase if it closes below RM9.00. A position can be exited on a close below RM8.90 and supports are anticipated at RM8.75 and RM8.50. However, the negative bias may be nullified should the stock close above October’s high of RM9.20. This could lead to a rebound, with resistance seen at RM9.50 and RM10.00.
PBBank’s downside risk increases after a high volume trade fails to push it above RM15.50. A trader can liquiddate on a close below the two-week low of RM15.30, with supports anticipated at RM15.00 and RM14.50. Failure to break below RM15.30 will likely see the stock sideways, while a breakout of the RM16.00 strong resistance should push the stock higher.
Faber’s four-month sideways consolidation may end in an upside after closing above RM1.50. A position can be initiated above RM1.50, with a close below this week’s low of RM1.46 as a stop-loss. The price targets are prior highs of RM1.65 and RM1.85. Failure to break above RM1.50 should see the stock lower, with strong support expected at RM1.25.
JCY will likely decline after it fails to hold above RM0.80. A trader can liquidate below RM0.80, with supports expected at RM0.58 and RM0.46, should the recent low of RM0.66 be broken. A close above RM0.80 may restore the rebound that started in October. Resistance is anticipated at RM0.89.
Hap Seng may decline after failing to surpass the RM1.70 resistance recently. A trader can liquidate below RM1.70, or otherwise below RM1.60, with supports seen at RM1.48 and RM1.38. Failure to break below RM1.60 should see the stock sideways with strong resistance at June’s high of RM1.80.
Affin’s rally may resume if its Tuesday’s gap stays uncovered. A purchase can be made if the stock closes above the three-day high of RM3.45, with a close below RM3.40 as a stop-loss. The price target is RM4.00, should the recent high of RM3.75 be broken. Failure to stay above RM3.40 will send the stock lower and selling will intensify on a close below RM3.30.
BAHvest may decline after failing the test of RM0.725 for the third time in a month. A trader can liquidate if the stock closes below the three-week low of RM0.69, with supports expected at RM0.615 and RM0.545. A break above RM0.725 will likely see the stock higher, while resistance is anticipated at RM0.80.
Perdana may resume its rebound after returning above RM1.00 yesterday. A purchase can be made above RM1.00, with a close below Wednesday’s low of RM0.965 as a stop-loss. The price targets are prior highs of RM1.15 and RM1.25. Failure to stay above RM1.00 may see the stock sideways, with strong support at RM0.92.
Source: OSK
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