Trading Stocks - 9 March 2015 - Evergreen | GHL | Homeritz | CAM | IFCA | Ho Hup
9 Mar 2015, 09:23 AM
Evergreen Fibreboard may rebound to trend higher after forming a “Bullish Engulfing” and recovering back above the MYR0.99 mark in the latest session. Traders may buy as a bullish bias could be present above this threshold, with a target price of MYR1.15, assuming that the MYR1.07 level can be surpassed. The stock maytake a further breather if it cannot sustain above the MYR0.99 mark. In this case, further support is anticipated at MYR0.925, where traders can exit upon a breach, in anticipation of a further correction.
GHL Systems may climb further after gaining above the MYR0.875 level, albeit marginally. Traders may buy as a bullish bias could be present above this threshold, with a target price of MYR0.92 followed by MYR1.02. The stock may fall and consolidate if it cannot sustain above the MYR0.875 mark. In this case, further support is anticipated at MYR0.805, where traders can exit upon a breach.
Homeritz Corporation may rebound to trend higher after forming a “Bullish Engulfing” in the latest session. Traders may buy as a bullish bias could be present above the MYR1.08 level , with a target price of MYR1.23 followed by MYR1.37. The stock may fall and consolidate further if it cannot sustain above the MYR1.08 mark. In this case, further support is anticipated at MYR1.02, where traders can exit upon a breach, in anticipation of a further correction.
CAM Resources may climb further after gaining above the MYR0.355 level. Traders may buy as a bullish bias could be present above this threshold, with a target price of MYR0.415, followed by MYR0.45. The stock may fall and consolidate again if it cannot sustain above the MYR0.355 mark. In this case, further support is anticipated at MYR0.32, where traders can exit upon a breach.
IFCA MSC was testing the MYR1.30 resistance level in its latest session, which is also a recorded new high. Traders may buy if this level is breached in the near term, with a target price of MYR1.52. In the meantime, the stock may take a breather if the MYR1.30 level cannot be surpassed firmly. In this scenario, further support may then be found at MYR1.14, where traders can exit upon a breach, to avoid the risk of further correction.
Ho Hup Construction Commpany was testing the MYR1.45 resistance level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR1.56, followed by MYR1.70. In the meantime, the stock may take a breather if the MYR1.45 level cannot be surpassed. In this scenario, further support may then be found at MYR1.33, where traders can exit upon a firm breach.
Source: RHB
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