Thursday 20 December 2012

Trading Stocks - SapuraKencana | Power Root | LBI Capital | Microlink Solutions | Inch Kenneth Kajang Rubber | IGB Corp | Harn Len | Malaysia Pacific Industries


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

No comments:

Post a Comment