Wednesday 19 December 2012

Trading Stocks - OldTown | Tenaga | Sealink | Asia Media | Al-Aqar Healthcare REIT | Petaling Tin |



Oldtown  may  climb  higher  if  it  can  get  back  above  the  RM2.00 support level. A purchase can be made on close above RM2.02, witha close below  RM1.98 as a stop-loss. The price target is at RM2.30, if the recent high of RM2.15 is broken. The stock may decline if it is unable to get  above RM2.00, with supports at RM1.85 and RM1.75.

Selling  pressure  may  have  taken  over  after  Tenaga  failed  to  break above RM7.00 two weeks ago.  A position can be liquidated  long as it closes below RM6.85, with supports lying at RM6.50 and RM6.30. However,  the  downside  pressure  may  ease  if  it  closes  above RM6.90  and  strong  resistances  are  expected  at  RM7.00  and RM7.20.

Sealink  may  rebound  if  it  can  close  above  the  RM0.40  resistance level.  A  purchase  can  be  made  if  it  happens,  with  a  close  below RM0.37  as  a  stop-loss.  The  price  targets  are  at  the  prior  highs  of RM0.45 and the psychological RM0.50. Failure to get above RM0.40 should  see  the  stock  trend  lower,  with  strong  support  seen  at RM0.32.
 
AMedia may decline if the negative bias of the recent candles is not cancelled.  A  position  can  be  liquidated  on  a  close  below  RM0.445 and supports are expected at RM0.40 and RM0.37. Failure to close below  RM0.445  could  see  the  stock  higher  and  resistances  are anticipated at RM0.50 and RM0.55.
Al-Aqar may decline after losing  all the  gains of Monday. A  position can  be  exited  if  the  stock  closes  below  RM1.30,  with  supports anticipated  at  RM1.20  and  RM1.10.  A  close  back  above  RM1.34 could lead to a rebound, but expect strong resistance at RM1.50.
PtgTin’s downside risk increases  after forming two black candles in a  row.  A  position  can  be  exited  as  long  as  the  stock  stays  below RM0.345, with supports anticipated at RM0.26 and RM0.23. A close back  above  RM0.345  could  lead  the  stock  higher,  with  resistances  seen at RM0.40 and RM0.45.  
Source: OSK

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