Perak Corp may climb after closing above the nine-moth resistance level yesterday. A purchase can be made if the stock stays above RM1.40, with a close below RM1.35 as a stop-loss. The price target is the prior high of RM1.75, with resistance expected at RM1.60. The stock’s failure to stay above RM1.40 could see it move sideways, with strong support seen at RM1.30 and RM1.20.
Uzma may rebound after holding above the 100-day MAV line. A position can be initiated as long as the stock stays above RM1.65, with a close below RM1.60 as a stop-loss. The price target is the psycholgocal RM2.00, if the recent high of RM1.80 is violated. Failure to stay above RM1.60 should see the stock trade sideways, with support expected at RM1.52 and RM1.40.