United U-Li Corporation (ULICORP) may climb after forming a “Bullish Engulfing” pattern, albeit on a relatively low volume. Traders may buy as a bullish bias could be present above the MYR3.00 level, with a target price of MYR3.50, assuming the MYR3.19 level can be surpassed. The stock may consolidate if it cannot hold above the MYR3.00 mark. In this case, further support is anticipated at MYR2.78, where traders can exit upon a breach to avoid further correction.
MAA Group may trend higher, recovering above the MYR0.75 level to close on a multi-year high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.87. The stock may drift sideways if it falls back below the MYR0.75 mark. In this case, further support is anticipated at MYR0.71, where traders can exit upon a breach to avoid further correction.
Sasbadi may rebound further after climbing above the downtrend line and the MYR2.30 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR2.57, followed by MYR2.68. The stock may consolidate furtherif it cannot hold above the MYR2.30 mark. In this case, further support is anticipated at MYR2.13, where traders can exit upon a breach to avoid further correction.
Emico Holdings climbed to test the MYR0.23 resistance level in its latest session. Traders may buy if this level is surpassed in the near term, with a target price of MYR0.25, followed by MYR0.275. In the meantime, the stock may consolidate further if the MYR0.23 level cannot be surpassed. In this scenario, further support may then be found at MYR0.205, where traders can exit upon a breach.
Benalec Holdings may fall further after gapping down on its latest session. Traders may expect further weakness if the stock maintains below the MYR0.70 level, with the next support level anticipated at MYR0.61. Meanwhile, the stock may trend sideways if it recovers above the MYR0.70 level, while the bearish bias may be significantly reduced if the MYR0.735 level is surpassed.
Sapura Industrial may fall further after breaching the MYR1.15 levelin its latest session. Traders may expect further weakness if the stock maintains below this level in the near term, with the next support levels anticipated at MYR1.00, followed by MYR0.91. Meanwhile, the stock may trend sideways if it recovers above the MYR1.15 level, while a short-term bullish bias may kick in if the MYR1.27 level is surpassed.
Source: RHB Research - 27 May 2015
http://klse.i3investor.com/blogs/rhb/77384.jsp
