Wednesday 28 November 2012

DAILY TRADING STOCKS - WCT | Astro | Gas Malaysia | Gabungan AQRS | KSK Group | Cypark Resources | Multi-Purpose Holdings | Ann Joo


WCT  may  climb  higher  after  holding  above  the  RM2.70  support level  for  almost  two  months  now.  A  purchase  can  be  made  above RM2.70,  with  a  close  below  as  a  stop-loss.  The  price  target  is  at RM3.15,  if  the  psychological  RM3.00  is  broken.  The  stock  may correct if it closes below RM2.70. Strong support is at RM2.50.
Astro  could  rebound  after  failing  to  force  a  close  below  RM2.64.  A position  can  be  initiated  on  a  close  above  RM2.70,  with  a  close below  RM2.64  as  a  stop-loss.  The  price  target  is  RM3.00,  with selling  also  expected  at  RM2.90.  A  failure  to  hit  and  stay  above RM2.70  should  see  the  stock  lower,  and  strong  support  is  at RM2.50.
GasMsia  may  decline  after  failing  to  break  above  the  RM2.75 resistance  level.  A  position  can  be  exited  on  a  close  below  RM2.59 and supports are expected at RM2.40 and RM2.20. A failure to break below  RM2.59  could  see  a  return  of  buying  support  but  expect  the RM2.75 resistance level to put a lid on the price.
GBGAQRS  will  likely  decline  after  failing  to  hold  above  RM1.12.  Atrader  can  liquidate  as  long  as  the  stock  stays  below  RM1.12,  withsupports  expected  at  RM1.00  and  if  violated,  at  RM0.90.  Thenegative bias will be nullified should the stock sustain a close aboveRM1.15 and that should lead the stock higher.  
KSK  may  rebound  if  it  holds  above  the  RM0.65  support  level.  Apurchase can be made on a close above RM0.66, with a close belowRM0.65 as a stop-loss. The price target is RM0.80, if the August highof  RM0.70  is  broken.  A  close  below  RM0.70  should  see  the  stocktrade lower, with supports expected at RM0.615 and RM0.595. 
Cypark will fall futher if it closes below the psychological RM1.50. A position  can  be  exited  if  it  happens  and  supports  are  expected  at
the  one-year  low  of  RM1.30  and  if  broken,  RM1.20.  A  failure  to break  below  RM1.50  could  see  the  stock  rebound  but  the  upside bias  will  only  take  over  if  the  stock  closes  above  the  Oct  high  of RM1.70.
MPHB may decline after failing to hold above  RM3.70. A trader can liquidate if the stock stays below RM3.70, with supports expected at RM3.50, and if that is violated, RM3.30. A close back above RM3.70 will likely see the stock resuming its rally, with resistance at RM3.90 and RM4.15.  


 
Ann Joo may decline if it breaks below the RM1.30 support level. Aposition  can  be  liquidated  if  it  happens,  wtih  supports  anticipated at  RM1.15  and  psychological  RM1.00.  The  stock  may  rebound,however,  if  it  fails  to  break  below  RM1.30.  This  should  see  it  scalehigher, with resistance seen at the gap of RM1.44. 
Source: OSK

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