UMW may climb after getting back above the 50-day MAV line. A purchase can be made if the stock stays above RM12.20, with a close below RM11.90 as a stop-loss. The price target is RM13.90, if the prior high of RM13.00 is broken. Failure to stay above RM12.20 could see the stock move lower, with strong support seen at RM11.00.
FGV’s downside risk increases after the stock failing to break above the RM4.50 resistance level. Traders can liquidate as long as the
stock stays below RM4.50, with supports anticipated at RM4.30 and RM4.20. A close above RM4.50, however, may trigger buying. Resistance is seen at RM4.60, and a stronger one at RM4.67.
stock stays below RM4.50, with supports anticipated at RM4.30 and RM4.20. A close above RM4.50, however, may trigger buying. Resistance is seen at RM4.60, and a stronger one at RM4.67.
Poh Kong’s selling may resume after posting a 52-week low. Traders can opt to sell as long as the stock stays below RM0.44, with supports anticipated at the psychological RM0.40 and RM0.36. However, the stock may rebound if it closes above RM0.44, with strong resistance lying at RM0.48.
CBIP may decline after closing at its lowest in more than six months yesterday. Traders may liquidate as long as the stock stays below RM2.62, with supports anticipated at RM2.40 and RM2.30. Buying could make a return if the stock closes above RM2.62. Resistance is seen at RM2.66 and a stronger one at RM2.75.
AirAsia may rebound after a strong move yesterday. A position can be initiated if the stock stays above RM2.80, with a close below yesterday’s low of RM2.77 as a stop-loss. The price target is RM3.20, if the psychological RM3.00 resistance is broken. The stock may trend lower if the stop-loss is triggered, with supports anticipated at RM2.60 and stronger one at RM2.50.
MAA may climb after closing above the psychological RM0.50 level. A purchase can be made if the stock stays above RM0.50, with a close below RM0.48 as a stop-loss. The price target is the recent high of RM0.60, with resistance expected at RM0.55. Failure to stay above RM0.50 will likely see the stock trade sideways, while strong support should come in at RM0.42.
Alam should continue to scale higher after finding support at the 50-day line. A purchase can be made as long as the stock stays above RM0.80, with a close below RM0.765 as a stop-loss. The price target is RM1.05, if the RM0.95 resistance is broken convincingly. Failure to stay above RM0.80 could see the stock move lower, with supports seen at RM0.73 and RM0.69.
MAS may rebound after surpassing the 50-day MAV line yesterday. A purchase can be made as long as the stock stays above RM0.71, with a close below RM0.69 as a stop-loss. The price target is RM0.85, with resistance expected at RM0.78. Failure to stay above RM0.71 could see the stock trade lower and support is at seen RM0.615.
Source: OSK
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