Trading Stocks - 7 April 2015 - Mitrajaya | K-One | E.A. Technique | WellCall | Mieco | Eng Kah
Author: kiasutrader | Publish date: Tue, 7 Apr 2015, 09:22 AM
Mitrajaya Holdings may trend higher after climbing above the MYR1.75 level in its latest session to extend a new high. Traders may buy, as a bullish bias could be present above this level, with a target price of MYR2.03. The stock may fall and consolidate further if it cannot sustain above the MYR1.75 mark. In this case, further support is anticipated at MYR1.51, where traders can exit upon a breach.
K-One Technology may trend higher after closing above theMYR0.555 level, albeit marginally. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.60, followed by MYR0.635. The stock may pull back to take a breather if it cannot sustain above the MYR0.555 mark. In this case, further support is anticipated at MYR0.475, where traders can exit upon a breach to avoid the risk of a further correction.
E.A. Technique may climb further after closing above the MYR0.615level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.705, assumingthe MYR0.635 resistance can be surpassed. The stock may pull back and consolidate further if it cannot sustain above the MYR0.615mark. In this case, further support is anticipated at MYR0.565, where traders can exit upon a breach.
WellCall Holdings may trend higher after climbing back above the MYR2.07 level, albeit marginally. Traders may buy as a bullish bias could be present above this level, with a target price of MYR2.38. The stock may pull back and consolidate further if it cannot sustain above the MYR2.07 mark. In this case, further support is anticipated at MYR1.88, where traders can exit upon a breach to avoid a further potential correction.
Mieco Chipboard was testing the MYR0.745 resistance level in its latest session. Traders may buy if this level is surpassed in the near term, with a target price of MYR0.825, followed by MYR0.875. In the meantime, the stock may drift sideways if the MYR0.745 level cannot be surpassed. In this scenario, further support may then be found at MYR0.67, where traders can exit upon a breach.
Eng Kah Corporation was testing the MYR1.94 support level in its latest session. Traders may expect further weakness if the stock breaches this level on closing in the near term, with the next support levels anticipated at MYR1.82 and MYR1.70. The stock may move sideways if it the MYR1.94 level holds, while the bearish bias will likely reduce significantly if the MYR2.32 level is surpassed.
Source: RHB
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