Technical Stocks To Watch on 11/11/2015 – EKSONS (9016), WTK (4243), TAANN (5012), MIECO (5001), SIGN (7246) & DOMINAN (7169)

EKSONS (9016) has broken out the strong resistance of MYR1.25 with Bollinger band opened wider and improved in traded volume on 9/11 and closed higher exactly @ 50% Fibonacci Retracement level or MYR1.30.

                                                                         EKSONS Daily Chart

 

Foresee the bull starts to lead EKSONS climbs higher in the next trading days with immediate and subsequent target price is MYR1.37 and MYR1.47, respectively. 

WTK (4243) tested a very strong resistance @ MYR1.18 with higher than average traded volume with Bollinger Band opened wider on 9/11/2015.

                                                                          WTK Daily Chart

Foresee WTK could break this strong level in the next trading days and if it does so, there should be a very strong rally could be happened on this counter.

TAANN (5012) successfully broke out the resistance of MYR3.93 with Bollinger Band opened wider and higher than average traded volume on 9/11/2015.  

                                                                     TAANN Daily Chart

 

Foresee TAANN would trades higher in the next trading days with target price could follow the Fibonacci Retracement extension level as projected. 

MIECO (5001) currently traded in correction mode after rallying for certain period of time since 19/10/2015.

 MIECO Daily Chart

However, it was well supported by MYR1.11 and 10-days moving average (centre line of Bollinger Band) although it has broke down thru the uptrend line since 6/11/2015 but with only relatively lower than average traded volume.

Foresee MIECO would test the recent high of MYR1.17 in next trading days and if it does, the historical high of MYR1.22 would be the next target for it to test.

Refer to the blog written on 3/11/2015; http://fatta888.blogspot.my/2015/11/technical-stock-to-watch-on-3112015.html, SIGN (7246) successfully broke thru the resistance of MYR2.73 but the momentum was not able to last long followed by a minor profit taking after that.  

                                                                       SIGN Daily Chart

However, SIGN was well supported by 10-days Moving Average (centre line of Bollinger Band) since 6/11/2015 and it was traded with higher than average volume and closed higher during the session ended on 9/11. 

In case SIGN is trading above the downtrend line in the next trading days, it should test the immediate resistance @ MYR2.96 or Fibonacci Retracement level of 78.6%.

DOMINAN (7169) is also one of the furniture stocks listed in the Bursa market but it is deeply oblivion and was trading in sideway for quite of period of time since plunged down from the high of MYR1.58 on 5/8/2015.  

                                                                  DOMINAN Daily Chart

Should DOMINAN traded above MYR1.17 and 50-days Moving Average (light blue solid line) in the next trading days, foresee the bull will lead DOMINAN all the way up until the 1^st mission; i.e. the gap down that was formed on 4/9/2015 to fill up @ MYR1.31. 

Good luck & Happy Trading!

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