Thursday 31 January 2013

Trading Stocks - Oldtown | Petronas Chemicals | Power Root | Pasukhas | Kim Loong Resources | Sarawak Cable | Rimbunan Sawit | KYM Holdings


Oldtown’s  rally  may  resume  after  staying  above  the  RM2.10 support  level.  A  purchase  can  be  made  if  it  stays  above  RM2.20, with  a  close  below  RM2.10  as  a  stop-loss.  The  price  target  is  at RM2.50,  if  the  recent  high  of  RM2.35  is  violated.  Failure  to  stay above  RM2.20  could  see  the  stock  trade  sideways,  with  strong support anticipated at RM2.10.
Petronas  Chemicals  may  rebound  after  staying  above  the  RM6.00 support level. A purchase can be made on close above RM6.06, with a close below RM5.90 as a stop-loss. The price target is at RM6.60, if the recent high of RM6.40 is broken. Failure to stay above RM6.00 could  see  the  stock  lower,  with  strong  support  anticipated  at RM5.65.
Power  Root  may  rebound  after  staying  above  the  RM1.16  support level. A purchase can be made if it stays above RM1.22, with a close below the RM1.16 as a stop-loss. The price target is at RM1.45, with resistance  also  expected  at  RM1.30.  Failure  to  stay  above  RM1.22 could see the stock trade sideways, with strong support anticipated at RM1.10.
Pasukhas  may  decline  after  the  relatively  high-volume  trade  failed to see the stock higher yesterday. Liquidation can be undertaken if it closes below RM0.24 and support levels are expected at RM0.20 and  RM0.15.  Buying  support  could  take  over  if  the  stock  fails  to break below RM0.24 but expect strong resistance at RM0.30
Kim  Loong  may  fall  further  after  closing  the  lowest  in  more  than  a year.  Liquidation  can  be  undertaken  as  long  as  it  stays  below RM2.25,  and  supports  are  expected  at  RM2.15  and  RM2.00. However, the stock could make a rebound if it closes above RM2.32 and resistance are expected at RM2.40 and RM2.45.
Sarawak  Cable  may  decline  after  printing  a  new  52-week  low.  A trader  can  liquidate  if  the  stock  closes  below  RM1.50,  while supports  are  anticipated  at  RM1.30  and  RM1.20.  Buying  could return  quickly  if  the  stock  closes  back  above  RM1.55,  but  expect strong resistance at RM1.67 and RM1.80.
Rimbunan  Sawit’s  downtrend  should  continue  after  breaking  below the  RM0.80  support  level.  A  position  can  be  exited  as  long  as  the stock  stays  below  RM0.80  and  supports  are  anticipated  at  RM0.70 and  RM0.65.  Buying  could  make  a  quick  return  if  it  closes  back above RM0.80.  Resistance should come at RM0.85 and RM0.90.
KYM may decline after it failed the test of the psychological RM1.00 yesterday. Liquidation can be made below RM1.00 and supports are anticipated  at  RM0.80  and  RM0.73.  However,  the  stock  may  rebound if it closes above RM1.00 and resistance levels are located at RM1.10 and RM1.20.
Source: OSK

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