Technical Stock To Watch on 26/10/2015 – OKA (7140), CIHLDG (2828), FGV (5222), TGUAN (7034), IDEAL (0081) & 3A (0012)

OKA (7140) finally broke the triangle pattern after hovering within inside for 14 days with increased in higher than average volume and closed well above the 50% Fibonacci Retracement level @ MYR0.880. 

 OKA Daily Chart

Watch closely on the Bollinger Band, seems like it is going to open wider if OKA is trading above 50% Fibonacci Retracement level on next trading days.

In case it does, the bullishness journey for OKA will start right here from this level. 

The next resistance foresee will be @ 61.8% or MYR0.925-0.930 and 78.6% or MYR0.995 of Fibonacci level.

Kindly refer http://fatta888.blogspot.my/2015/10/oka-7140-biggest-pipe-manufacturer-in.html for fundamental analysis for this counter.

CIHLDG (2828) eventually broke the ranging or sideway trend @ MYR1.90 since 10/8/2015 with huge increased in traded volume (1 good bar with 1 good volume) with Bollinger Band opened wider after well supported by MA50 (gold solid line) since 15/10 during the session ended on 23/10.  

                                                                   CIHLDG Daily Chart

 

Besides, the gap formed on 10/8/2015 (highlighted with eclipse) also being closed out by CIHLDG on that day.

Foresee the accumulation phase (ranging) since 10/8/2015 could be the catalyst for bull to lead CIHLDG for further upside in the next trading days.

FGV (5222) was traded in uptrend since 30/9/2015 due to the rebounded of Crude Palm Oil (CPO) price from low of 18xx to the current price of approximate 2320 per metric ton.   

                                                                        FGV Daily Chart

Thanks to the recovery of CPO price, the latest gap that formed on 15/6/2015 was easily closed up by FGV.

In case FGV was trading above the MYR1.80 resistance with substantial traded volume, the next profit target to look at is the gap formed on 27/5/2015 which is MYR1.95.

TGUAN (7034) successfully broke the resistance of MYR1.95 on 22/10 after move sideway or ranging for s period of time with increased in higher than average traded volume. 

                                                                  TGUAN Daily Chart

The broke out push TGUAN to move up further on the next trading days with volume tripled than the previous day.

Foresee TGUAN will continue its bullishness until the gap was filled up @ MYR2.17.

IDEAL (0081) has been trading in uptrend since it breaks the resistance of MYR0.46-0.465 on 21/10 with improved in traded volume. 

                                                                     IDEAL Daily Chart

The next target to look at is 78.6% Fibonacci Retracement level and the recent high of MYR0.57.

3A (0012) made a 1 good bar and 1 good volume and finally successfully broke the strong resistance of MYR1.02 since it closed up the gap on 17/9 then it was traded in sideway or ranging until 23/10.

                                                                           3A Daily Chart

3A closed at subsequent resistance @ MYR1.05 during the session ended on 23/10 but the rally was well supported by MA50 after gapped up during the market opened. 

Foresee the rally would continue until the next gaps were filled up by 3A.

Look also stocks such as EG, LBICAP, HEXZA, SUPERLN, MALTON, CANONE, KEINHIN & SAPRES for tomorrow trading.

Good luck & Happy Trading!

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