Trading Stocks - 26 May 2015 - Hap Seng | Heveaboard | Grand-Flo | APFT | Media | E&O


Hap Seng Consolidated may soon test the MYR4.83  resistance level following  its  recent  rebound.  Traders  may  buy  if  this  level  is surpassed in the near term, with a target price of   MYR5.50. In the meantime,  the  stock  may  consolidate  further  if  the  MYR4.83  level cannot be surpassed. In this scenario, further support may then be found at MYR4.40, where traders can exit upon a breach.

Heveaboard  was  testing  the  MYR3.17  resistance  level  in  its  latest session.  Traders may buy if this level is surpassed in the near term, with  a  target  price  of  MYR3.33, followed  by  MYR3.60.  Meanwhile, the  stock  may  consolidate  further  if  the  MYR3.17  level  cannot  be surpassed.  In  this  scenario,  further  support  may  then  be  found  at MYR2.90, where traders can exit upon a breach.

Grand-Flo may trend higher after inching above  the  MYR0.315  levelin  its  latest  session.  Traders  may  buy  as  a  bullish  bias  could  be present above this  level, with a target price  of MYR0.36.  The stock may consolidate  if  it cannot hold  above the MYR0.315  mark. In this case,  further support is anticipated at MYR0.30, where traders can exit upon a breach to avoid further correction.

APFT  rebounded  to  test  the  50-day  MAV  line  and  MYR0.19resistance level in its latest session.  Traders may buy if this level is surpassed in the near term, with a target price of MYR0.215 . In the meantime,  the  stock  may  consolidate  further  if  the  MYR0.19  level cannot be surpassed. In this scenario, further support may then be found at MYR0.175, where traders can exit upon a breach.

Media  Prima  may  fall  further  after  breaching  the  MYR1.61  level(albeit marginally)  to  extend its multi-year low. Traders may expect further  weakness  if  the  stock  maintains  below  this  level,  with  the next  support  levels  anticipated  at  MYR1.51,  followed  by  MYR1.41 . Meanwhile, the stock may trend sideways if it recovers firmly above
the  MYR1.61  level,  while  the  bearish  bias  may  be  significantly reduced if the MYR1.81 level is surpassed.

Eastern  &  Oriental  (E&O)  may  fall  further  after  inching  below  theMYR1.85  level  in  its recent  session,  albeit  marginally.  Traders  may expect  further  weakness  if  the  stock  maintains  below  this  level  in the near term, with  the  next support levels anticipated at MYR1.67, followed by MYR1.58. Meanwhile, the stock may trend sideways if it recovers  above  the  MYR1.85  level,  while  a  short-term  bullish  bias may kick in if the MYR2.07 level is surpassed.

Source: RHB Research - 26 May 2015

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