Aug 11, 2015

Denko – Bullish “Piercing Line”

Denko Industrial Corporation  Stock Code: 8176

denko analysis above: Denko Daily Chart

Denko Industrial Corporation may experience a technical rebound after forming a bullish “Piercing Line” pattern in its latest session. Traders may buy as a bullish bias could be present above the MYR0.35 level, with a target price of MYR0.38, followed by MYR0.405. The stock may drift lower if it does not react to the current bullish signal. In this case, support is anticipated at MYR0.315, where traders can exit upon a breach.

by RHB Retail Research

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.