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

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.