Trading Stocks - 6 April 2015 - Mikro MSC | Careplus | Sycal | CMS | Tek Seng | China Automobile
Author: kiasutrader | Publish date: Mon, 6 Apr 2015, 09:13 AM
Mikro MSC may trend higher after climbing above the MYR0.35level in its latest session to extend its new high. Traders may buy, as a bullish bias could be present above this level, with a target price of MYR0.405, followed by MYR0.445. The stock may fall and consolidate further if it cannot sustain above the MYR0.35 mark. In this case, further support is anticipated at MYR0.325, where traders can exit upon a breach on closing.
Careplus Group may trend higher after breaching the MYR0.565level to mark a new high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0 .63, followed by MYR0.685. The stock may pull back to take a breather if it cannot sustain above the MYR0.565 mark. In this case, further support is anticipated at MYR0.50, where traders can exit upon a breach to avoid the risk of a further correction.
Sycal Ventures may climb further after closing above the MYR0.425level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.485, followed by MYR0.50. The stock may pull back and consolidate further if it cannot sustain above the MYR0.425 mark. In this case, further support is anticipated at MYR0.39, where traders can exit upon a breach.
Cahya Mata Sarawak may trend higher after closing above theMYR4.72 level to mark a multi-year high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR5.15, followed by MYR5.35. The stock may pull back and consolidate further if it cannot sustain above the MYR4.72 mark. In this case, further support is anticipated at MYR4.27, where traders can exit upon a breach to avoid further potential correction.
Tek Seng was testing the MYR0.565 resistance level in its latest session. Traders may buy if this level is surpassed in the near term,with a target price of MYR0.65. In the meantime, the stock may drift sideways if the MYR0.565 level cannot be surpassed. In this scenario, further support may then be found at MYR0.485, where traders can exit upon a breach.
China Automobile Parts may experience a further correction after falling below the MYR0.335 mark. Traders may expect further weakness if the stock stays below this level in the near term, with next supports anticipated at MYR0.30 and MYR0.275. The stock may move sideways if it recovers back above the MYR0.335 level, while the bullish bias will likely return if the MYR0.65 level is surpassed.
Source: RHB Research - 6 Apr 2015
http://klse.i3investor.com/blogs/rhb/74111.jsp
