Trading Stocks - 25 April 2016 - OKA | Len Cheong | ES Ceramics | Prolexus | Evergreen | Mieco





OKA  Corporation  may  trend  higher  after  breaching  the  MYR1.06 level in its latest session to mark a new high.  A bullish  bias may  be present  above  this  point,  with  a  target  price  of  MYR1.20,  followed by  MYR1.28.  On  the  other  hand,  the  stock  may  turn  sideways  if  it dips  back  below  the  MYR1.06  level.  Support  may  be  found  at MYR0.97, where traders can exit upon a breach to avoid the risk of a further correction.
 

Len Cheong may trend higher after surpassing the MYR0.35 level in its  latest  session  to  mark  a  multi-year  high.  A  bullish  bias  may  be present  above  this  point,  with  a  target  price  of  MYR0.40,  followed by  MYR0.425.  On  the  other  hand,  it  may  take  a  breather  if  it  dips back below the MYR0.35 mark. Support may be found at MYR0.31, where traders can  exit upon a breach to avoid  the risk of a further correction.
 

ES Ceramics Technology may trend higher after surging through the MYR0.565  level  in  its  latest  session.  A  bullish  bias  may  be  present above  this  point,  with  a  target  price  of  MYR0.60,  followed  by MYR0.65.  On  the  other  hand,  it  may  drift  sideways  if  it  dips  back below  the  MYR0.565  mark.  Support  may  be  found  at  MYR0.515, where traders can  exit upon a breach to avoid  the risk of a further correction.
 

Prolexus  may  experience  a  futher  technical  rebound  after  inching above  the  MYR1.95  level  and  downtrend  line,  albeit  marginally.  A bullish  bias  may  be  present  above  this  point,  with  a  target  price  of MYR2.18.  On  the  other  hand,  it  may  drift  sideways  if  it  dips  back below the MYR1.95 mark in the near term. Support may be found at MYR1.78, where traders can exit upon a breach.
 

Evergreen  Fibreboard  was  testing  the  MYR1.13  level  in  its  latest session  after  crossing  above  the  50-day  SMA  line.  The  stock  may experience a further technical rebound if it crosses above this point in  the  near  term,  with  a  target  price  of  MYR1.30,  provided  the MYR1.20  level  can  be  surpassed.  However,  it  will  turn  sideways  if the  MYR1.13  mark  cannot  be  breached.  Support  may  be  found  at YR1.06 where traders can exit upon a breach to avoid the risk of a further correction.
 

Mieco Chipboard was testing the MYR0.875 level after touching the 50-day  SMA  line,  albeit  marginally.  The  stock  may  experience  a further technical rebound if it breaches this point in the near term, with  a  target  price  of  MYR1.00.  It  will  likely  consolidate  further  if the MYR0.875 mark cannot be surpassed. Support may be found at MYR0.80 where traders can exit upon a breach.
Source: RHB Research - 25 Apr 2016

 http://klse.i3investor.com/blogs/rhb/95368.jsp