TM may rebound after staying above the RM5.50 support level. A purchase can be made if the stock closes above RM5.56, with a close below RM5.48 as stop-loss. The price target is RM6.00, with selling expected to kick in at RM5.70. Failure to break above RM5.56 could see the stock slip, with supports anticipated at RM5.45 and RM5.30.
MHB’s downside risk increased after the stock closed below the RM4.40 support level two days in a row. Traders may opt to sell the stock if it stays below RM4.40, with supports seen at RM4.00 and RM3.75. A sustained close above RM4.40, however, could spark off buying, but there is strong resistance at RM4.60 and RM4.80.
United Plantations should continue to scale higher after closing at the highest in more than 4 months. A purchase can be made above RM26.00, with a close below RM24.00 as a stop-loss. The price target is RM30.00, if the recent high of RM28.00 is violated. Failure to keep above RM26.00 could see the stock trade sideways, while the downside risk will increase if it closes below RM24.00.
Lion Corp should climb after breaching the 200-day MAV line. A purchase can be made if the stock stays above RM0.30, with a close below RM0.285 as a stop-loss. The price target is the prior high of RM0.40, with selling expected at RM0.35. The stock may decline if it fails to rise above RM0.30, while supports are anticipated at RM0.26 and RM0.23.
Unisem may rebound after staying above 100-day MAV line. A purchase can be made if it closes above RM1.04, with a close below RM1.00 as a stop-loss. The price target is RM1.25, if the stock breaks the recent high of RM1.15, while failure to get above RM1.04 could see the stock trend lower. Strong supports can be found at RM0.90 and RM0.85.
JT International may fall further as it has stayed below the broken RM6.55 support level for a few days. A trader can liquidate as long as the stock stays below RM6.55, while supports are anticipated at RM6.00 and RM5.60. Buying could return quickly if the stock closes back above RM6.55, but expect strong resistance at RM6.70 and RM7.00.
Meda Inc may rebound after breaking above the 200-day MAV line for a few days now. A position can be initiated if the stock closes above RM0.72, with a close below RM0.67 as a stop-loss. The price target is RM1.00, if it violates the 2012 high of RM0.85. meanwhile, failure to get above RM0.72 will likely see the stock trend sideways, with strong support seen at RM0.65.
MBF Holdings may rise after getting back above the 100-day MAV line. Traders may opt to purchase if the stock stays above RM1.20, with a close below RM1.15 as a stop-loss. The price target is RM1.45, if the stock pierces through the RM1.30 resistance level. The stock may trade lower if it fails to stay above RM1.20, whereupon supports are seen at RM1.10 and RM1.00.
Source: OSK
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