Iskandar Waterfront City (IWCITY) may trend higher after
surgingabove the MYR0.95 level in its latest close. A bullish
bias may be present above this point, with a target price of MYR1.05,
followed by MYR1.12. On the other hand, the stock may drift
sideways if it dips back below the MYR0.95 level. Support may
be found at MYR0.905, where traders can exit upon a breach to avoid
the risk of a further correction.
Hong Leong Industries may climb further after extending to a multiyear high in its latest session. A bullish bias may still be present above the MYR7.30 level, with a target price of MYR8.30. The stock may take a further breather if it retraces below the MYR7.30 mark in the near term. Support may be found at MYR7.00, where traders can exit upon a breach to avoid the risk of a further correction.
Protasco rebounded to test the MYR1.74 level in its latest
sessionafter the recent pullback. The bullish bias may be enhanced if
the stock surpasses this point in the near term, with a
target price of MYR1.92, provided the MYR1.84 resistance can be
violated. However, it may trade sideways if the MYR1.74 mark
cannot be surpassed. Support may be found at MYR1.64 where
traders can exit upon a breach to avoid the risk of a further
correction.
Malaysian Bulk Carriers may rebound further after forming a
“Bullish Engulfing” pattern in its latest session. A bullish bias may be
present above the MYR0.835 level, with a target price of MYR0.945,
followed by MYR1.00. The stock may drift lower if it retraces back
below the MYR0.835 mark. Support may be found at MYR0.755,where
traders can exit upon a breach to avoid the risk of a further
correction.
Inari Amertron may experience a technical rebound after forming a
“Bullish Engulfing” pattern amid oversold conditions in its
latest session. A bullish bias may be present above the
MYR2.78 level, with a target price of MYR3.03. The stock may
drift lower if it cannot breac the MYR2.78 mark. Support may
be found at MYR2.60, where traders can exit upon a breach.
Globetronics Technology may be poised for a technical rebound after forming a “Bullish Engulfing” pattern amid oversold conditions in its latest session. A bullish bias may be present above the MYR3.56 level, with a target price of MYR4.17 – ie the mid-point of 26 Apr’s black candle. The stock may drift lower if it cannot surpass the MYR3.56 mark. Support may be found at MYR3.12, where traders can exit upon a breach.
Source: RHB Research - 5 May 2016
http://klse.i3investor.com/blogs/rhb/95944.jsp
