Trading Stocks - 27 August 2014 - MMS | Kobay | Saudee | China Automobile | Landmarks | Media
27 Aug 2014, 09:37 AM
MMS Ventures may resume its uptrend further after breaching the
MYR0.42 level to print a new high. Traders may buy if the
stockholds above this level, as the bullish bias is likely present. The
target price is MYR0.455, followed by MYR0.48. Failure to stay above
the MYR0.42 level may see the stock pull back and consolidate
further. Support may be found at MYR0.385, where traders could exit
upon a breach on closing.
Kobay Technology may trend higher after breaking out from the
downtrend line that surpassed the MYR1.20 level. Traders may buy, as a
bullish bias could be present above this level. The target price is set
at MYR1.29, followed by MYR1.38. It may drift sideways if it
cannot stay above the MYR1.20 level. Support may be found at
MYR1.08, whereupon a breach on closing could trigger a stop-loss.
Saudee Group’s technical outlook may have improved after
breaching the MYR0.47 level and 100-day MAV line. Traders may
buy if the stock sustains above this level, as the bullish bias is
likely present. The target price is set at MYR0.52, followed by
MYR0.59. The stock may drift sideways if it falls below the
MYR0.47 level. Further support may be found at MYR0.41,
whereupon traders could exit on a breach on closing.
China Automobile Parts may climb further after surpassing
theMYR0.325 and the 200-day MAV line – which may be a bullish
sign.Traders may buy if the stock can sustain above this level. The
target price is set at MYR0.385, if the MYR0.35 resistance is
breached. Failure to hold above the MYR0.325 level could prompt a
pullbackwhere the general bearish bias may resume. Support may be
found at MYR0.305, whereupon traders could exit on a breach.
Landmarks may experience further weakness after closing below
the MYR1.44 level and the breakdown from the “descending
triangle” pattern. Traders may exit their positions if the
stock is unable to recover above the MYR1.44 level in the
near term. Support is anticipated at MYR1.27 or MYR1.20. It
may trend sideways if it recovers back above the MYR1.44
level. Meanwhile, the bullish bias may kick in if the stock climbs
above the MYR1.55level.
The bearish bias on Media Prima may have increased after the stock
fell below the MYR2.30 level to a 52-week low. Traders may
exit their positions if the condition persists. Further support
is anticipated at MYR2.10, followed by MYR2.06. The stock may
consolidate if it recovers back above the MYR2.30 level. It needs to
breach the MYR2.40 resistance level to potentially improve the
technical outlook.
Source: RHB
http://klse.i3investor.com
http://klse.i3investor.com
