IJM may climb higher after closing above the 200-day MAV line for two days in a row. A purchase can be made if it closes above RM5.20, with a close below RM5.00 as stop-loss. The price target is the prior high of RM5.60, with resistance expected at RM5.45. Failure to stay above RM5.20 could see the stock trade sideways, with strong support seen at RM4.85.
BIMB’s rally may resume if it stays above the 200-day MAV line. A position can be initiated on a close above RM3.10, with a close below the psychological RM3.00 as a stop-loss. The price target is RM3.50, with resistance expected at RM3.30. Failure to get above RM3.10 could see the stock trend lower and supports are anticipated at RM2.80 and RM2.70.
Puncak may rebound after surpassing the 200-day MAV line last week. A position can be initiated if the stock closes above RM1.36, with a close below last week’s low of RM1.25 as a stop-loss. The price target is RM1.70, if the psychological RM1.50 is broken. Failure to get above RM1.36 could see the stock move lower. Supports are expected at RM1.15 and RM1.00.
Tebrau’s rally may resume if it gets above the RM0.90 resistance level. A purchase can be made if it closes above RM0.90, with a close below RM0.87 as a stop-loss. The price target is the prior low of RM1.10, if the psychological RM1.00 is broken. The stock may decline if it fails to stay above RM0.90, while supports are anticipated at RM0.80 and RM0.77.
The stock may rebound after moving above the 100-day MAV line last week. A position can be initiated if it stays above RM1.40, with a close below RM1.35 as a stop-loss. The price targets are the prior highs of RM1.60 and RM1.70. The stock may trend sideways if the stop-loss is triggered, with strong support expected at RM1.30.
Daibochi may climb higher after holding above the 100-day MAV line. A purchase can be made if the stock stays above RM2.55, with a close below RM2.45 as a stop-loss. The price target is RM2.85, if the recent high of RM2.70 is broken. Failure to stay above RM2.55 will likely see the stock trade sideways and strong support should come at RM2.35.
KHSB’s rebound may resume after closing at its six-day high. A purchase can be made if the stock closes above RM0.65, with a close below RM0.62 as a stop-loss. The price target is the 2012’s high of RM0.80, if the RM0.70 resistance is violated. Failure to get above RM0.65 could see the stock move lower, with supports seen at RM0.55 and RM0.525.
BHIC’s downside risk increases after hitting a new 52-week low. Traders can liquidate if the stock stays below RM2.00, with supports expected at RM1.75 and RM1.50. Buying, however, could return quickly if the stock closes above RM2.06, with resistance levels lying at RM2.20 and the psychological RM2.45.
Source: OSK
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