Thursday, 14 March 2013

Trading Stocks - 14 March 2013 - Tenaga | Allianz | Telekom | Kossan Rubber | KNM | TDM | Tambun Indah

Tenaga  should  climb  higher  after  closing  above  RM7.00  for  several days now. A purchase can be made as long as the stock stays above the psychological RM7.00, with a close below RM6.90 as a stop-loss. The  price  targets  are  prior  highs  of  RM7.40  and  RM8.00.  Failure  to stay  above  RM8.00  could  see  the  stock  trade  sideways,  and  selling pressure may intensify on a close below RM6.90.  
Allianz  should  continue  higher  if  it  returns  above  the  RM8.00 psychological  level.  A  position  can  be  initiated  if  the  stock  stays above RM8.00, with a close below RM7.70 as a stop-loss. The price target  is  RM9.40,  with  resistance  seen  at  RM9.00.  Failure  to  stay above  RM8.00  should  see  the  stock  trend  sideways,  with  supports lying at RM7.20 and RM6.80.
Source: RHB

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