Monday 26 November 2012

Daily Trading Stocks - MHB | BIMB | Jobstreet | UOA Dev | Berjaya Corp | CBSA | My Eg | MBF


MHB’s downside risk increased  after  the  stock  printed  a  new  52-week low.  A trader can exit a position below RM4.60, with support anticipated  at  RM4.00,  and  if  that  is  broken,  at  the  IPO  price  of RM3.80.  The  negative  bias  will  only  be  nullified  should  the  stock close above October’s high of RM5.00. 
BIMB’s downside risk has increased after it closed below RM3.00. A trader can liquidate if the stock stays below this level, with supports seen  at  RM2.70  and  RM2.90.  Failure  to  stay  below  RM3.00  will likely  see  the  stock  trade  sideways,  while  a  breakout  from  the RM3.35-strong resistance should see the stock push higher.

JobStreet’s 10-month sideways consolidation may end on the upside after  it  closed  above  RM2.40.  A  position  can  be  initiated  above RM2.50,  with  a  close  below  this  month’s low of RM2.28  as  a  stop-loss. The price target is at the prior high of RM3.00, with selling also anticipated at RM2.80. Failure to stay above RM2.40 should see the stock trend lower, with strong support expected at RM2.10.
 
UOADev  will  likely  decline  after  it  failed  to  hold  above  RM1.70.  A trader  can  liquidate  as  long  as  the  stock  stays  below  RM1.70,  with supports expected at RM1.60 and RM1.70. Meanwhile, a sustained close  above  RM1.70  may  restore  the  rebound  that  started  in October. Resistance lies at RM1.80, with a stronger one at RM1.90. 

BJCorp may rebound after forming “Hammers” four days in a row. A purchase can be made on a close above RM0.60, with a close below RM0.58  as  a  stop-loss.  The  price  target  is  the  September  high  of RM0.70,  from  which  a  successful  breakout  could  reverse  the downtrend. A close below RM0.58 should see the stock trade lower, with supports expected at RM0.55 and RM0.50. 
CBSA  rebound  may  resume  if  it  closes  above  RM0.39.  A  purchase can  be  made  if  this  happens,  or  alternatively,  on  a  close  above RM0.40, with RM0.38 as a stop-loss. The price target is at RM0.45, with  selling  also  expected  at  RM0.42.  Failure  to  break  above RM0.40 is likely to  send the  stock lower, while  selling will intensify on a close below RM0.35.

MyEG  may  decline  after  closing  below  the  three-month  low  of RM0.735.  A  trader  can  liquidate  if  the  stock  stays  below  RM0.735, with  supports  expected  at  RM0.70  and  the  prior  resistance  at RM0.65.  A  close  back  above  RM0.735  will  likely  see  the  stock  push higher,  but  any  upside  bias  is  only  restored  on  a  close  above RM0.80.
 
MBF Hldg may resume its rally after printing a new five-year high. A purchase  can  be  made  above  RM1.23,  with  a  close  below  RM1.20 as a stop-loss. The price targets are at RM1.40 and RM1.50. Failure to  stay  above  RM1.20  may  see  the  stock  go  sideways,  with  strong support at RM1.10.
Source: OSK

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