Ajinamoto may trend higher after extending its climb above the
MYR9.60 level to hit a new high. A bullish bias may be
present above this point, with a target price of MYR10.40,
followed by MYR11.50. On the other hand, the stock may turn sideways if
it dips below the MYR9.60 mark. Support may be found at
MYR8.78, where traders can exit upon a breach to avoid the risk of a
further correction.
Ecofirst Consolidation was testing the MYR0.265 level in its
latest session. The stock may rebound further if it breaches
this point in the near term, with a target price of MYR0.29.
It would likely drift sideways if the MYR0.265 mark cannot be
surpassed. Support may be found at MYR0.245 where traders can
exit upon a breach to avoid the risk of a further correction.
Guiness Anchor may trend higher after breaching the MYR14.72
level in its latest session to hit a multi-year high. A bullish bias may
be present above this point, with a target price of MYR16.00,
followed by MYR16.50. On the other hand, the stock may turn
sideways if it dips back below the MYR14.72 level. Support may be
found at MYR14.20, where traders can exit upon a breach on
closing to avoid the risk of a further correction.
Bumi Armada was testing the MYR0.81 level in its latest
session. The stock may experience a further technical rebound if it
breaches this point in the near term, with a target price of
MYR0.90. However, it may resume its downtrend if the MYR0.81 mark cannot
be surpassed in the near term. Support may be found at
MYR0.75 where traders can exit upon a breach to avoid the risk of a
further correction.
Denko Industrial Corporation was testing the MYR0.39 level in
its latest session. The stock may climb further if it breaches
this point in the near term, with a target price of MYR0.445. However,
it may consolidate further if the MYR0.39 mark cannot be
breached. Support may be found at MYR0.37 where traders can
exit upon a breach to avoid the risk of a further correction.
Menang Corporation may experience a correction after forming an
“Inverted Hammer” candle pattern in an overbought condition.
Traders may expect a further weakness if it falls below the
MYR0.915 level in the immediate term, with support anticipated at
MYR0.815. The stock may move sideways if it holds above the
MYR0.915 mark. The bullish bias would return if it closes above the
MYR0.95 level – a resistance point in Nov-14.
Source: RHB Research - 27 Apr 2016
http://klse.i3investor.com/blogs/rhb/95514.jsp
