SKPetro may climb higher after closing above the RM3.00 resistance level. A purchase can be made above RM3.00, with a close below RM2.90 as a stop-loss. The price target is at RM3.30, with selling also expected at RM3.15 if the earlier resistance is broken. The stock may decline if it is unable to get stay above RM3.00, with supports at RM2.75 and RM2.50.
PwRoot may climb higher after printing a fresh 52-week high. A trader may opt to purchase the stock if it stays above RM1.10, with a close below RM1.00 as a stop-loss. The price target remains at RM1.25, and if broken, at RM1.45. However, the stock will decline if it fails to stay above RM1.10. Further supports are at RM0.94 and RM0.90.
LBICap should climb higher after printing a new rally high. A purchase can be made if it stays above RM1.10, with a close below RM1.00 as a stop-loss. The price targets are RM1.28 and RM1.40. Failure to stay above RM1.10 could see the stock trend lower, with supports seen at RM0.95 and RM0.90.
Microlink may climb further after closing above the RM0.50 psychological level. A position can be initiated if it stays above RM0.50, with a close below RM0.48 as a stop-loss. The price targets are RM0.55 and RM0.60. Failure to stay above RM0.50 could see the stock trade lower and supports are at RM0.40 and RM0.35.
IncKen may correct after forming several weak candles. A trader can liquidate if the stock stays below RM0.79, with supports expected at RM0.75 and RM0.70. A close above RM0.83, however, will nullify the weak bias and keep the rally going. Strong resistance is seen at RM0.875.
IGB may resume its decline after closing back below RM2.40. A position can be liquidated if it stays below RM2.40 and support is expected at the recent low of RM2.20 and failing that, at RM2.00. The negative bias is likely to be cancelled if it closes above RM2.45, leading to higher prices. Resistance are at RM2.60 and RM2.70.
Harn Len’s high volume trade in the past few days could see the stock move higher. A purchase can be made if the stock closes above RM0.925, with a close below RM0.90 as a stop-loss. The price target is RM1.10, if the psychological RM1.00 is broken. Failure to break above RM0.925 should see the stock trade sideways, with supports at RM0.85 and RM0.80.
MPI’s downside risk increases after printing a fresh 52-week low. A position can be exited if it closes below RM2.50, with supports anticipated at RM2.40 and RM2.25. Failure to get below RM2.50 could lead to a rebound, but the upside bias is only restored if it maintains a close above RM2.80.
Source: OSK
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