Mycron Steel may trend higher after breaching the MYR0.42 level in its
latest session to reach a new 52-week high. A bullish bias may be
present above this point, with a target price of MYR0.50. On
the other hand, the stock may drift sideways if it dips back below
the MYR0.42 level. Support may be found at MYR0.40, where
traders can exit upon a breach to avoid the risk of a further
correction. Note that a stronger support is expected at MYR0.365.
Kerjaya Prospek Group may climb further after surpassing the
MYR1.86 level to extend its mulit-year high in its latest
session. A bullish bias may be present above this point, with a target
price of MYR2.10, followed by MYR2.30. The stock may consolidate
furtherif it retraces below the MYR1.86 level in the near term. Support
may be found at MYR1.76, where traders can exit upon a breach
to avoid the risk of a further correction.
Destini rebounded to test the MYR0.61 level in its latest session in
after a period of correction. The bullish bias may be enhanced if the
stock surpasses this point in the near term, with a target
price of MYR0.68, provided the MYR0.635 resistance can be
violated. However, it may consolidate further if the MYR0.61 mark cannot
be surpassed. Support may be found at MYR0.575 where traders
can exit upon a breach to avoid the risk of a further correction.
Melewar Industrial Group rebounded to test the MYR0.34 level in its latest session after a period of correction recently. The bullish bias may be enhanced if the stock surpasses this point in the near term, with a target price of MYR0.37, followed by MYR0.41. However, it may drift sideways if the MYR0.34 mark cannot be surpassed. Support may be found at MYR0.31 where traders can exit upon a breach to avoid the risk of a further correction.
Pasdec was testing the MYR0.395 level in its latest session.
The bullish bias may be enhanced if the stock surpasses this point in
the near term, with a target price of MYR0.42, followed by
MYR0.45. However, it may take a breather if the MYR0.395 mark
cannot be surpassed. Support may be found at MYR0.345 where
traders can exit upon a breach to avoid the risk of a further
correction.
Tadmax was testing the MYR0.355 level after crossing below the 50-day
SMA line in its latest session. Traders may expect further selling if
it falls below this point in the near term, with the next
supportanticipated at MYR0.335, followed by MYR0.305. The stock
may trade sideways if holds above the MYR0.355 mark. The bullish bias
may return if it climbs further above the MYR0.39 level.
Source: RHB Research - 4 May 2016
http://klse.i3investor.com/blogs/rhb/95869.jsp
