7-Eleven Malaysia may rebound further after surpassing the MYR1.50 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.67, followed by MYR1.80. The stock may drift sideways if it dips back below the MYR1.50 mark. In this case, further support is anticipated at MYR1.34, where traders can exit upon a breach.
MKH may trend higher after inching above the MYR2.38 level in its latest session, albeit marginally. Traders may buy as a bullish bias could be present above this level, with a target price of MYR2.64. The stock may consolidate further if it cannot sustain above the MYR2.38 level. In this case, further support is anticipated at MYR2.25, where traders can exit upon a breach.
Notion VTec may trend higher after inching above the MYR0.405 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.48. The stock may move sideways if it falls back below the MYR0.405 level. In this case, further support is anticipated at MYR0.37, where traders can exit upon a breach.
Icon Offshore may trend higher after sustaining above the MYR0.42 level. Traders may buy as a bullish bias could be present above this price, with a target price of MYR0.50, assuming the MYR0.485 level can be surpassed. The stock may drift sideways if it dips back below the MYR0.42 mark. In this case, further support is anticipated at MYR0.385, where traders can exit upon a breach to avoid the risk of a further correction.
Cycle & Carriage Bintang may trend higher after inching above the MYR3.35 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR3.90, assuming the MYR3.50 resistance can be surpassed. The stock may consolidate further if it dips back below the MYR3.35 level. In this case, further support is anticipated at MYR3.10, where traders can exit upon a breach to avoid the risk of a further correction.
Guan Chong was testing the MYR1.36 resistance level in its latest session. Traders may buy if this level is breached in the near term, with a target price of MYR1.55. In the meantime, the stock may consolidate further if the MYR1.36 level cannot be breached. Support may be found at MYR1.21, where traders can exit upon a breach to avoid the risk of a further correction.
Source: RHB Research - 4 Jan 2016
http://klse.i3investor.com/blogs/rhb/89058.jsp
