CIMB will decline further if it fails to get above the psychological RM7.00 support level. A position can be liquidated as long as the stock stays below RM7.00, with support anticipated at RM6.70, should the RM6.85 level be broken. A close above RM7.00, however, could trigger a rebound, whereupon investors can expect strong resistance at RM7.30.
SapuraKencana’s downside risk is likely to increase if it closes below the RM2.85 support level. A position can be liquidated if this happens, with supports seen at RM2.75 and RM2.60. However, buying could return quickly if the stock closes above RM2.95, with resistance lying at the psychological RM3.00 and RM3.15 levels.
Industronics may trade lower after forming weak candles below the RM0.625 resistance level. A position can be liquidated on a close below RM0.60, with supports anticipated at the psychological RM0.50 and RM0.40. However, a convincing violation of RM0.625 could see the stock trade higher, with resistance expected at RM0.65, and a stronger one at RM0.70.
Lion Industries may rebound if it can hold above the RM0.90 level. A position can be initiated on a close above RM0.935, with a close below RM0.90 as a stop-loss. The price target is RM1.05, if the psychological RM1.00 is broken, while failure to stay above RM0.90 will likely see the stock trend lower. Supports lie at RM0.82, with a stronger one at RM0.75.
Dayang may rebound if it can hold above the 100-day MAV line. A position can be initiated if the stock stays above RM2.40, with a close below RM2.35 as a stop-loss. The price target is the recent high of RM2.70, with selling expected at RM2.55. The stock’s failure to stay above RM2.40 could see it trend lower, with supports expected at RM2.30 and a stronger one at RM2.20.
Sunway may rise further after the stock closed at its highest in more than three months. A purchase can be made if it stays above RM2.45, with a close below RM2.38 as a stop-loss. The price target is RM2.70, with resistance anticipated at RM2.60. Failure to stay above RM2.45 will likely see the stock trade sideways. Supports can be seen at RM2.30 and RM2.25.
JCY may fall further after closing at its lowest in 52 weeks. A position can be liquidated if the stock remains below RM0.625, with support anticipated at RM0.535 should the RM0.58 level be broken. A close above RM0.65, however, could trigger a rebound, with strong resistance seen at RM0.70.
Mudajaya’s downside risk increases after posting a new 52-week low. Traders can lidquidate if the stock stays below RM2.50, with supports expected at RM2.30 and RM2.15. Buying, however, could make a quick return if the stock closes above RM2.56, with resistance lying at RM2.65 and RM2.80.
Source: OSK
No comments:
Post a Comment