DENKO Stock Code: 8176
Denko Industrial Corporation may trend higher after inching above the MYR0.35 level in its latest session, albeit marginally. Traders may buy as a bullish bias could be present above this level, with a MYR0.405 TP, assuming the MYR0.385 level can be overcome. The stock may take a breather if it cannot sustain above the MYR0.35 mark. In this case, further support is anticipated at MYR0.32, where traders can exit upon a breach.
source: RHB Research – 16/11/15
DENKO INDUSTRIAL CORPORATION BHD
The Group is originally involved in the manufacture and distribution of packaging materials also manufactures and distributes plastic pipes and ladies' undergarments and provides maintenance services for sewerage systems.