UMW Oil & Gas Corporation may experience a further
technical rebound after inching above 50-day SMA line and MYR0.95 level
in its latest session. A bullish bias may be present above
this point, with a target price of MYR1.01, followed by MYR1.10.
However, the stock may drift lower if it dips back below the MYR0.95
mark in the near term. Support may then be found at MYR0.90,
where traders can exit upon a breach.
Mitrajaya was testing the MYR1.30 resistance level in its
latest session. The stock may trend higher if it breaches this
level in the near term, with a target price of MYR1.50. On
the other hand, it may turn sideways if the MYR1.30 mark
cannot be breached. Support may be found at MYR1.18 where
traders can exit upon a breach to avoid the risk of a further
correction.
AWC was testing the MYR0.48 resistance level in its latest
session. The stock may trend higher if it breaches this level in the
near term, with a target price of MYR0.525, followed by
MYR0.555. On the other hand, it may turn sideways if the
MYR0.48 mark cannot be breached. Support may be found at
MYR0.435 where traders can exit upon a breach to avoid the risk of a
further correction.
Pan Malaysia Corporation was testing the MYR0.29 resistance level in
its latest session. The stock may climb higher if it breaches
this level in the near term, with a target price of
MYR0.325. On the other hand, it may drift sideways if the
MYR0.29 mark cannot be breached. Support may be found at
MYR0.265 where traders can exit upon a breach.
Malaysian Bulk Carriers may trend higher after extending its
climb above the MYR0.945 level in its latest session, despite
its overbought condition. A bullish bias may be present above
this point, with a target price of MYR1.08. However, the stock may face
a correction if it dips back below the MYR0.945 mark in the
near term. Support may then be found at MYR0.89, where traders
can exit upon a breach to avoid the risk of a further correction.
BIMB is still above the uptrend line and was testing the
MYR4.00 level in its latest session. The stock may climb
higher if it breaches this level in the near term, with a target
price of MYR4.40, assuming the MYR4.28 resistance can be breached.
Meanwhile, it may experience some pullback if the MYR4.00 mark cannot
be breached firmly. Support may be found at MYR3.70 where
traders can exit upon a breach to avoid the risk of a further
correction.
Source: RHB Research - 14 Apr 2016
http://klse.i3investor.com/blogs/rhb/94777.jsp
