DAILY TRADING STOCKS: AIRPORT, LANDMARK, HUAYANG, BRAHIMS, TM, ARMADA, SMI, E&O

MAHB may extend its 1-year correction should the RM5.50 support level  be violated.  Liquidation could be undertaken  if this happens and  further  support is expected at  the  2011-low of RM5.00 and RM4.50. However, a failure  to break the support level  of RM5.50 may invite buying, which is confirmed on  a  close above RM5.80. Resistance is at RM6.00 and RM6.40.

The selling of Landmarks shares may intensify after it closed below the 8-month support line. Positions can be exited below RM0.88 and support can be expected at RM0.80 and  the  prior low of RM0.75. A close above RM0.90 indicates support is holding well and this may spark a rebound. Resistance is expected at RM0.98.

Hua Yang may trade higher after closing at  an  all-time high yesterday. Purchases can be made above yesterday’s high of RM1.59 with a stop loss on close below yesterday’s low of RM1.56. The price target is RM1.95, with resistance also expected at RM1.70. The trade may not work should the stop loss  be triggered but expect strong support at the 4-month low of RM1.40.

Brahims may trade higher after closing firmer yesterday. Positions can be initiated above RM1.20 with a close below the 2-month low of RM1.10 as a stop loss. A close above the recent high of RM1.35 is required to keep the rally going and  the  price target is the psychological RM1.50. The stock may enter into a correction should the stop loss  be triggered, and support  is located at RM0.98 and RM0.85.

TM’s uptrend may resume after buying returned yesterday. Purchases can be made above Tuesday’s “Long Black Day” of RM5.31 with a close below the recent low of RM5.21 as a stop loss. A close above RM5.50 is required to keep the rally going and  the price target is RM5.80. The selling of the past 3 weeks will continue should the stop loss be triggered and strong support is expected at RM5.00.

The month-long correction of Bumi Armada is likely over  after failing to close below  the  support level of RM3.85 last week.  For added measure, purchases can be made above  the  psychological RM4.00 with a stop loss on close below RM3.85. Resistance is expected at RM4.15 and RM4.50, a violation of which should see the stock climbing higher.  The correction will continue should the stop loss be triggered and support is expected at RM3.70.

SMI’s upward move  is  likely  to  continue after holding above Monday’s close of RM0.265. Positions can be initiated above this level with a close below  the  3-day low of RM0.255 as  a  stop loss. Immediate resistance  lies at RM0.30, followed by RM0.35 and RM0.40. A close below RM0.255 will see sellers taking control and support lies at RM0.24 and RM0.22.

E&O may rebound after the false breakdown of the RM1.30 support level last week. Purchases can be made above Tuesday’s gap of RM1.34 with a close below as  a  stop loss.  The price target is  RM1.50 where the 200-day MAV line lies, followed by RM1.60. But the correction will continue if the stock closes below RM1.30 again and strong support is at RM1.05.

 Source: OSK