Technical Stocks To Watch on 15/10/2015 – BIOHLDG (0179) & ESCERAM(0100)

BIOHLDG (0179) was trading in uptrend since 25/8/2015 and failed to break the resistance of MYR0.290 after few times of testing. However, it successfully breaks this level on 13/10 with huge improved volume and closed higher (1 good bar with 1 good volume) during the session ended.

BIOHLDG Daily Chart

Foresee BIOHLDG will continue its just started upward “journey” from 15/10 onward on the believed that “goreng” on the ACE and small cap counters should kick off since 13/10 based on the continuously foreign fund inflow into the local market (you can verify by analyzing the ACE and small cap counters’ chart). 

ESCERAM (0100) made a new high and closed @ MYR0.380 with full bar after broke the historical high of MYR0.370 on 13/10.

                                                                  ESCERAM Daily Chart

In addition, it also closed nicely above the parallel upper line during the session ended.

Because ESCERAM is also one of the ACE group member, it is believed that this counter should continue being “goreng” based on the reason mentioned above.

Once again, take a look on ACE and small cap counters such as PRIVA, FRONTKN, NOVAMSC, SYSTECH, OPENSYS, IFCAMSC, etc. as goreng on these counters might take place.

Good luck & Happy Trading!

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