Global Oriental may climb further after breaching the MYR0.51 level in its latest session. A bullish bias may be present above this point, with a target price of MYR0.58. However, the stock may turn sideways if it cannot sustain above the MYR0.51 mark in the near term. Support may then be found at MYR0.49, where traders can exit upon a breach.
JHM Consolidation may trend higher after climbing above the MYR0.485 level in its latest session. A bullish bias may be present above this point, with a target price of MYR0.52, followed by MYR0.56. However, the stock may turn sideways if it dips back below the MYR0.485 mark in the near term. Support may then be found at MYR0.46, where traders can exit upon a breach to avoid the risk of a further correction.
AirAsia X may trend higher after surging through the MYR0.325 level in its latest session. A bullish bias may be present above this point, with a target price of MYR0.40. However, the stock may drift lower if it falls back below the MYR0.325 mark in the near term . Support may then be found at MYR0.295, where traders can exit upon a breach to avoid the risk of a further correction.
Yee Lee Corporation may trend higher after extending its climb above the MYR2.34 level to record a new high in its latest session. A bullish bias may be present above this point, with a target price of MYR2.62. However, the stock may consolidate if it dips back below the MYR2.34 mark in the near term. Support may then be found at MYR2.09, where traders can exit upon a breach to avoid the risk of a further correction.
Century Logistics was testing the MYR0.92 resistance level in its latest session. The stock may climb higher if it breaches this level in the near term, with a target price of MYR1.01. On the other hand, it may drift sideways if the MYR0.92 mark cannot be breached. Support may be found at MYR0.845 where traders can exit upon a breach to avoid the risk of a further correciton.
Power Root was testing the MYR2.22 resistance level in its latest session. The stock may experience a further technical rebound if it breaches this level in the near term, with a target price of MYR2.50. On the other hand, it may drift sideways if the MYR2.22 mark cannot be breached. Support may be found at MYR2.00 where traders can exit upon a breach.
Source: RHB Research - 18 Apr 2016
Trading Stocks - 18/4/2016 - GOB | JHM | AAX | Yee Lee | Century Logistics | Power Root
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