Jan 13, 2010

Nylex - stock code 4944


NYLEX made a minor Wave 4 low of RM0.56 in Jun ’09, with grossly oversold signals. The stock is in a firm Wave 5 uptrend, confirmed by the positive crossover from the indicators. We feel that  NYLEX will rise and test the stipulated resistance and target levels above. 

FIRM BUY (TECHNICAL) on dips for NYLEX with good support areas at RM0.70 and RM0.805, with great potential to reach its stipulated resistance level of RM0.845 and RM0.94 with target areas of RM0.99 and RM1.26. Stop-loss is at RM0.68. source : Maybank Investment