Axiata may climb higher after closing at its strongest in more than 2 weeks. A purchase can be made if it stays above RM6.30, with a close below RM6.20 as stop-loss. The price target is the recent high of RM6.80, with resistanec also expected at RM6.60. Failure to stay above RM6.30 could see the stock trade sideways, with supports at RM6.00 and RM5.85.
Dialog’s downside risk may increase the longer it stays below the RM2.35 level. A position can be liquidated if the stock closes below RM2.30, with supports seen at RM2.15 and at the psychological RM2.00. However, buying could return quickly if the stock closes above RM2.35, with resistance seen at RM2.40 and the psychological RM2.50.
Alam may fall further after it failed to get above the RM0.80 level. A position can be liquidated if the stock stays below RM0.78, with supports anticipated at RM0.74 and at the round figure of RM0.70. However, a convincing violation of RM0.80 could see the stock trade higher, with resistance seen at RM0.85, with a stronger one at RM0.90.
Microlink may still climb after gapping higher yesterday. A position can be initiated if the stock stays above RM0.60, with a close below RM0.59 as stop-loss. The price target is RM0.73, with resistance anticipated at RM0.66. Failure to stay above RM0.60 will likely see the stock trend sideways. Supports lie at RM0.55, with a stronger one at RM0.50.
PPB may rebound if it can hold above the 100-day MAV line. A position can be initiated if it stays above RM12.30, with a close below RM12.00 as stop-loss. The price targets are the prior highs of RM13.20 and RM14.00. The stock may trend lower if the stop-loss is triggered, with supports expected at RM11.60, with a stronger one at RM11.20.
Censof’s rebound is in jeapordy after the stock fell back below the round figure of RM0.40 on high volume. Liquidation can be made as long as it stays below RM0.40 and supports are expected at RM0.35 and RM0.33. A close back above RM0.40 could see a return in buying and strong resistance is anticipated at RM0.45.
Borneo Oil’s downside risk may increase the longer it stays below the RM0.40 resistance level. A position can be liquidated if the stock stays below RM0.40, with supports seen at RM0.33 and RM0.30. However, buying could return quickly if the stock closes above RM0.40, with resistance seen at RM0.44 and RM0.47.
Ta Ann’s downside risk has increased after the stock hit a new 52-week low. Traders can liquidate if the stock stays below RM3.50, with supports expected at RM3.25 and RM3.00. Buying, however, could return quickly if the stock closes above RM3.65, with resistance lying at RM3.85 and at the psychological RM4.00.
Source: OSK
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