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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