Oldtown’s rally may resume after staying above the RM2.10 support level. A purchase can be made if it stays above RM2.20, with a close below RM2.10 as a stop-loss. The price target is at RM2.50, if the recent high of RM2.35 is violated. Failure to stay above RM2.20 could see the stock trade sideways, with strong support anticipated at RM2.10.
Petronas Chemicals may rebound after staying above the RM6.00 support level. A purchase can be made on close above RM6.06, with a close below RM5.90 as a stop-loss. The price target is at RM6.60, if the recent high of RM6.40 is broken. Failure to stay above RM6.00 could see the stock lower, with strong support anticipated at RM5.65.
Power Root may rebound after staying above the RM1.16 support level. A purchase can be made if it stays above RM1.22, with a close below the RM1.16 as a stop-loss. The price target is at RM1.45, with resistance also expected at RM1.30. Failure to stay above RM1.22 could see the stock trade sideways, with strong support anticipated at RM1.10.
Pasukhas may decline after the relatively high-volume trade failed to see the stock higher yesterday. Liquidation can be undertaken if it closes below RM0.24 and support levels are expected at RM0.20 and RM0.15. Buying support could take over if the stock fails to break below RM0.24 but expect strong resistance at RM0.30
Kim Loong may fall further after closing the lowest in more than a year. Liquidation can be undertaken as long as it stays below RM2.25, and supports are expected at RM2.15 and RM2.00. However, the stock could make a rebound if it closes above RM2.32 and resistance are expected at RM2.40 and RM2.45.
Sarawak Cable may decline after printing a new 52-week low. A trader can liquidate if the stock closes below RM1.50, while supports are anticipated at RM1.30 and RM1.20. Buying could return quickly if the stock closes back above RM1.55, but expect strong resistance at RM1.67 and RM1.80.
Rimbunan Sawit’s downtrend should continue after breaking below the RM0.80 support level. A position can be exited as long as the stock stays below RM0.80 and supports are anticipated at RM0.70 and RM0.65. Buying could make a quick return if it closes back above RM0.80. Resistance should come at RM0.85 and RM0.90.
KYM may decline after it failed the test of the psychological RM1.00 yesterday. Liquidation can be made below RM1.00 and supports are anticipated at RM0.80 and RM0.73. However, the stock may rebound if it closes above RM1.00 and resistance levels are located at RM1.10 and RM1.20.
Source: OSK
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