Nov 16, 2015

Denko May Trend Higher

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.

buy denko

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.