Author: kiasutrader | Publish date: Fri, 14 Aug 2015, 09:21 AM
ViTrox Corporation may rebound further after forming a “Bullish Engulfing” pattern in its latest session. Traders may buy as a bullishbias could be present above the MYR3.00 level, with a target priceof MYR3.46. The stock may drift lower if it does not sustain above the MYR3.00 mark. In this case, support is anticipated at MYR2.80, where traders can exit upon a breach to avoid a further correction.
Prolexus may rebound further after forming a “Bullish Harami” in its latest session. Traders may buy as a bullish bias could be present above the MYR2.27 level, with a target price of MYR2.50. The stock may drift sideways if it does not react to the bullish signal. In this case, support is anticipated at MYR2.00, where traders can exit upon a breach to avoid a further correction.
Hovid may rebound further after recovering above the MYR0.45 level in its latest session, albeit marginally. Traders may buy as a bullish bias could be present above the MYR0.45 level, with a target price of MYR0.51, assuming the MYR0.48 level can be breached. The stock may consolidate if it does not sustain above the MYR0.45 mark. In this case, support is anticipated at MYR0.41, where traders can exit upon a breach.
Prestariang may rebound further after forming a “Bullish Harami” in its latest session. Traders may buy as a bullish bias could be present above the MYR2.22 level, with a target price of MYR2.46. The stock may drift sideways if it does not react to the bullish signal. In this case, support is anticipated at MYR2.00, where traders can exit upon a breach to avoid a further correction.
Kossan Rubber Industries rebounded to test the MYR6.90 level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR7.45. In the meantime, the stock may trend sideways if the MYR6.90 level cannot be surpassed. Support may be found at MYR6.46, where traders can exit upon a breach to avoid a further correction.
OCK Group may rebound further after forming a “Bullish Engulfing” pattern in its latest session. Traders may buy as a bullish bias could be present above the MYR0.815 level, with a target price of MYR0.87, followed by MYR0.94. The stock may drift lower if it does not sustain above the MYR0.815 mark. In this case, support is anticipated at MYR0.775, where traders can exit upon a breach.
Source: RHB Research - 14 Aug 2015
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