Oldtown may climb higher if it can get back above the RM2.00 support level. A purchase can be made on close above RM2.02, witha close below RM1.98 as a stop-loss. The price target is at RM2.30, if the recent high of RM2.15 is broken. The stock may decline if it is unable to get above RM2.00, with supports at RM1.85 and RM1.75.
Selling pressure may have taken over after Tenaga failed to break above RM7.00 two weeks ago. A position can be liquidated long as it closes below RM6.85, with supports lying at RM6.50 and RM6.30. However, the downside pressure may ease if it closes above RM6.90 and strong resistances are expected at RM7.00 and RM7.20.
Sealink may rebound if it can close above the RM0.40 resistance level. A purchase can be made if it happens, with a close below RM0.37 as a stop-loss. The price targets are at the prior highs of RM0.45 and the psychological RM0.50. Failure to get above RM0.40 should see the stock trend lower, with strong support seen at RM0.32.
AMedia may decline if the negative bias of the recent candles is not cancelled. A position can be liquidated on a close below RM0.445 and supports are expected at RM0.40 and RM0.37. Failure to close below RM0.445 could see the stock higher and resistances are anticipated at RM0.50 and RM0.55.
Al-Aqar may decline after losing all the gains of Monday. A position can be exited if the stock closes below RM1.30, with supports anticipated at RM1.20 and RM1.10. A close back above RM1.34 could lead to a rebound, but expect strong resistance at RM1.50.
PtgTin’s downside risk increases after forming two black candles in a row. A position can be exited as long as the stock stays below RM0.345, with supports anticipated at RM0.26 and RM0.23. A close back above RM0.345 could lead the stock higher, with resistances seen at RM0.40 and RM0.45.
Source: OSK
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