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Trading Stocks - 9 April 2015 - Salcon | Hovid | OCK | SLP | Yinson | Eco World

Salcon  may trend higher after climbing above the MYR0.80  level in its latest session. Traders may buy, as a bullish bias could be present above  this  level,  with  a  target  price  of  MYR0.875,  followed  by MYR0.935.  The  stock  may  fall  and  consolidate  further  if  it  cannot sustain  above  the  MYR0.80  mark.  In  this  case,  further  support  is anticipated at MYR0.725, where traders can exit upon a breach.

Hovid  may trend higher after closing  above the  MYR0.47  level  in its latest  session.  Traders  may  buy  as  a  bullish  bias  could  be  present above  this  level,  with  a  target  price  of  MYR0.515,  followed  by MYR0.56.  The  stock  may  pull  back  to  take  a  breather  if  it  cannot sustain  above  the  MYR0.47  mark.  In  this  case,  further  support  is anticipated at MYR0.41, where traders can exit upon a breach.

OCK  Group  was  testing  the  MYR0.94  resistance  level  in  its  latest session. Traders may buy if this level is surpassed in the near term,with  a  target  price  of  MYR1.00,  followed  by  MYR1.05.  In  the meantime,  the  stock  may  consolidate  further  if  the  MYR0.94  level cannot be surpassed. In this scenario, further support may then be found at MYR0.865, where traders can exit upon a breach.

SLP Resources  was testing the MYR0.86  resistance level in its latest session. Traders may  buy if this level is surpassed in the near term,with  a  target  price  of  MYR0.945,  followed  by  MYR1.00.  In  the meantime,  the  stock  may  consolidate  further  if  the  MYR0.86  level cannot be surpassed. In this scenario, further support may then be found at MYR0.755, where traders can exit upon a breach.

Yinson  Holdings  was  testing  the  MYR3.00  resistance  level  in  its latest session. Traders may buy if this level is surpassed in the near term,  with  a  target  price  of  MYR3.30.  In  the  meantime,  the  stock may  move  sideways  if  the  MYR3.00  level  cannot  be  surpassed.  In this  scenario,  further  support  may  then  be  found  at  MYR2.66, where traders can exit upon a breach.

Eco World Development Group  may fall further after breaching the MYR1.77  level  in  its  latest  session.  Traders  may  expect  further weakness if the stock stays below  this  level  in the near term, with the next support level anticipated at MYR1.54. The stock may move sideways  or rebound further  if  it  recovers back above the MYR1.77level, while the bearish bias may be removed if the MYR2.00 level is surpassed.

Source: RHB

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