May 24, 2016

PASDEC – Trading Buy


PASDEC Stock Code: 6912  Target Price RM0.565

pasdec technical analysis
PASDEC has been experiencing persistent selling after reaching a high level of RM0.50 (R1) back in 11 May 2016. Yesterday, the share price managed to garner strong buying support from its RM0.42 (S1) level to surge 4.5 sen (10.71%), settling at RM0.465 on the back of strong trading volume, confirming the reversal play after the formation of an ‘Inverted Hammer’ candlestick. Strong uptick in RSI and Stochastic are also reinforcing the rebound play by reflecting the increasing buying momentum. With the bullish-bias technical picture, we are recommending a trading buy call on the stock with expectations that the share price will rebound towards its immediate resistance of RM0.50 (R1) and our target price objective of RM0.565 next in the near-term, which is 3 bids below its 21 April 2015 high level of RM0.58 (R2). Meanwhile, immediate support is seen at RM0.405 (S1) followed by RM0.35 (S2), where our protective stop-loss level is placed 4 bids below our S1 level at RM0.39.

Source: Kenanga Research – 24/05/2016

The principal activities of the Company are investment holding and provision of management services. The principal activities of the subsidiaries are property development project management; and trading of building materials hiring of machineries and to engage in construction business.

May 23, 2016

CRESBLD Rebounded



cresbld technical analysis

CRESBLD has rebounded off the RM0.925 level with improved volumes, forming a bullish candle above the EMA120 level. The MACD Histogram has turned green, while the RSI is hovering above the 50 level. Price target will be envisaged around the RM1.00 and RM1.03 levels. Support will be set around the RM0.925 level.

Source: M+ Online Research – 23/05/2016

The Group is principally involved in construction business.

May 20, 2016

KAREX – Technical Analysis


KAREX BERHAD Stock Code: 5247

karex technical analysis

Yesterday, KAREX surged 9.0 sen (3.86%) to close at RM2.42. The share price seems to be able to find some strong support at RM2.27 (S1), as it attempted to stage a rebound play yesterday. MACD histogram is looking to stage a bullish crossover, while strong uptick in Stochastic from its oversold region is indicating a sudden surge in buying momentum. Nonetheless, we observe that the share price could face another headwind soon exerted by its downtrend resistance line. Thus, we advise investors to look out for a decisive breakout above the downtrend resistance line at RM2.48/2.50 (R1), which could offer an opportunity for the share price to climb further up towards RM2.74 (R2) next. Failure to break the aforesaid level could result in the share price resuming its downtrend trajectory towards RM2.27 (S1) and possibly RM2.00 (S2) further.

Source: Kenanga Research – 20/05/2016

The Group is principally involved in the manufacturing and sale of condoms sterile catheters latex probe covers latex sleeves and rubber product. It is the world's largest original equipment manufacturer (OEM) condom maker in terms of capacity with an annual capacity of 3 billion pieces.

May 19, 2016

ANNJOO Technical Analysis


Ann Joo Resources Stock Code: 6556

anjoo technical analysis

Since reaching a YTD high level of RM1.26 back in mid-April, ANNJOO has undergone a correction as it retraced towards RM1.00 level. ANNJOO seems to be finding some buying support over the past two days and rose 5.0 sen (4.95%) to RM1.06 yesterday to break out from its downtrend resistance line. MACD histogram is currently flattening out above its support line to suggest that downside could be limited from here. Meanwhile, uptick in RSI and Stochastic are reflecting the buying interest on the stock. If the share price manage to garner follow-through buying interest, it could trend towards RM1.13 (R1) and possibly RM1.26 (R2) next. Meanwhile, failure to attract another strong volume gain in the next few days could likely result in the share price consolidating towards RM1.00 (S1), where the next level of support is noted at RM0.94 (S2).

Source: Kenanga Research – 19/05/2016

The principal activity of the Company is investment holding. The principal activities of its subsidiaries are property management and management services Trading retailing importing exporting and supplying of all kinds of metal products manufacturing sales and distribution of steel and iron products and steel service centre.

May 18, 2016

HHGROUP Short Term chart Analysis


hhgroup chart analysis

HHGROUP has formed a short term consolidation breakout above the RM0.425 level with higher-thanaverage volumes. The MACD Histogram has turned green, while the RSI has crossed above 50. Price target will be envisaged around the RM0.465 and RM0.545 levels. Support will be anchored around the RM0.41 level.

source: Malacca Securities – 18/05/2016

The Group are principally involved in the manufacturer trading of biomass material and value-added products focusing on oil palm empty fruit bunches (EFB) fibre coconut fibre and value-added products and also manufacturer and distributor of their own brands of mattress and bedding accessories.

May 17, 2016

ACOUSTECH - Technical Breakout

ACOUSTECH BHD  Stock Code: 7120

ACOUSTEC chart analysis

ACOUSTEC (Trading Buy, TP @ RM0.915). Yesterday, ACOUSTEC surged 4.0 sen (5.06%) on the back of strong trading volume to stage a technical breakout from its ‘Pennant’ chart pattern by closing higher at RM0.83. The underlying outlook is looking positive as the share price is currently trading above all its key SMAs (which are also trending upwards). Besides, MACD histogram has also undergone a strong bullish convergence further away from its zero-line to lend a hand on the bullish-bias outlook. From here, we reckon that the share price could be poised to trend further up towards RM0.88 (R1) and possibly towards out target price objective of RM0.915 (3 bids below RM0.93 (R2) level). Immediate support is seen at RM0.80 (S1) followed by RM0.76 (S2), while a conservative protective stop-loss level is recommended 3 bids below the S1 level at RM0.785.

source: Kenanga Research – 17/05/2016

The Group is engaged in the manufacture of OEM multimedia speaker systems for the PC industry and speaker units for incorporation into audio reproduction systems.The principal activities of FPEQ are manufacture of water cooler dispensers both for commercial and home use for export to Europe United States and South East Asia

Apr 20, 2016

SERNKOU – May Trend Higher After Breakout


SernKou Stock Code 7180

sernkou analysis

Sern  Kou  Resources  may  trend  higher  after  climbing  above  the MYR0.88 level in its latest session to mark a new high. A bullish bias may be present above this point, with a target price of MYR1.00. On the  other  hand,  the  stock  may  turn  sideways  if  it  dips  back  below the  MYR0.88  level.  Support  may  be  found  at  MYR0.81,  where traders  can  exit  upon  a  breach  to  avoid  the  risk  of  a  further correction.

Source: RHB Research – 20/04/2016

The Group an integrated furniture manufacturer is principally involved in manufacturing and distribution of rubberwood and metal furniture and trading of kiln-dried rubberwood.