Thursday, 7 March 2013

Trading Stocks - 7 March 2013 - Faber | NTPM | Puncak Niaga | Petronas Chemicals | Carlsberg | Uzma | Tambun Indah | Perak Corp

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.
Source: OSK

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