Monday, 4 March 2013

Trading Stocks - 4 March 2013

BLD  Plantation  may  climb  after  gapping  above  the  200-day  MAV line. A purchase can be made if the stock stays above RM8.50, with a close below RM8.20 as stop-loss. The price target is the prior high of  RM9.40,  if  the  round  figure  at  RM9.00  is  broken.  Failure  to  stay above  RM8.50  could  see  the  stock  move  sideways,  with  strong support seen at RM7.80.

IGB’s downside risk has  increased  after  an  unsuccessful  attempt  at breaking  the  RM2.30  resistance  level.  Traders  can  liquidate  as  long as  the  stock  stays  below  RM2.30,  with  supports  anticipated  at RM2.20  and  RM2.00.  A  close  above  RM2.30,  however,  may  trigger off  buying,  with  resistance  seen  at  RM2.40,  and  a  stronger  one  at RM2.45.
Source: RHB

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