Wednesday 20 February 2013

Trading Stocks - CIMB | SapuraKencana | Industronics | Lion Ind | Dayang | Sunway | JCY | Mudajaya


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

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