Hap Seng Consolidated may soon test the MYR4.83 resistance level following its recent rebound. Traders may buy if this level is surpassed in the near term, with a target price of MYR5.50. In the meantime, the stock may consolidate further if the MYR4.83 level cannot be surpassed. In this scenario, further support may then be found at MYR4.40, where traders can exit upon a breach.
Heveaboard was testing the MYR3.17 resistance level in its latest session. Traders may buy if this level is surpassed in the near term, with a target price of MYR3.33, followed by MYR3.60. Meanwhile, the stock may consolidate further if the MYR3.17 level cannot be surpassed. In this scenario, further support may then be found at MYR2.90, where traders can exit upon a breach.
Grand-Flo may trend higher after inching above the MYR0.315 levelin its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.36. The stock may consolidate if it cannot hold above the MYR0.315 mark. In this case, further support is anticipated at MYR0.30, where traders can exit upon a breach to avoid further correction.
APFT rebounded to test the 50-day MAV line and MYR0.19resistance level in its latest session. Traders may buy if this level is surpassed in the near term, with a target price of MYR0.215 . In the meantime, the stock may consolidate further if the MYR0.19 level cannot be surpassed. In this scenario, further support may then be found at MYR0.175, where traders can exit upon a breach.
Media Prima may fall further after breaching the MYR1.61 level(albeit marginally) to extend its multi-year low. Traders may expect further weakness if the stock maintains below this level, with the next support levels anticipated at MYR1.51, followed by MYR1.41 . Meanwhile, the stock may trend sideways if it recovers firmly above
the MYR1.61 level, while the bearish bias may be significantly reduced if the MYR1.81 level is surpassed.
Eastern & Oriental (E&O) may fall further after inching below theMYR1.85 level in its recent session, albeit marginally. Traders may expect further weakness if the stock maintains below this level in the near term, with the next support levels anticipated at MYR1.67, followed by MYR1.58. Meanwhile, the stock may trend sideways if it recovers above the MYR1.85 level, while a short-term bullish bias may kick in if the MYR2.07 level is surpassed.
Source: RHB Research - 26 May 2015
http://klse.i3investor.com/blogs/rhb/77288.jsp
