Stocks To Watch on 14/1/2016 - HOVID (7213), GDEX (0078), CAB (7174), KPSCB (9121)

HOVID (7213) was trading in consolidation mode since 14/12/2016 with resisted by level of MYR0.475.

HOVID (7213)

A head and shoulder was formed before the spike up with substantial increased in traded volume on 13/1/2016 indicating a strong bullish reversal trend took place.

With the strong resistance level was breached and closed above MYR0.475 during the session ended, HOVID was able to closed higher with full body (strong bull momentum) with Bollinger band opened wider.          

Foresee the bullish momentum will continue in the coming trading days with the next resistance is @ MYR0.510.

Recommend to set a cut loss at any price below MYR0.445.

Refer to the blog written on 13/1/2016; http://fatta888.blogspot.my/2016/01/stocks-to-watch-on-1312016-century-7117.html, GDEX (0078) breached above the strong resistance of MYR1.75 as anticipated with significant increased in traded volume and Bollinger Band opened wider on 13/1/2016.

GDEX Daily Chart

With the breakout above the resistance level of MYR1.75, foresee GDEX will climb higher and testing the historical high of MYR1.84 in the coming trading days.

Suggest to put a stop loss @ any price below MYR1.69 should the bull loss its momentum.

CAB (7174) made a breakout above the resistance level of MYR1.60 with higher than average traded volume with Bollinger Band opened wider as well on 13/1/2016.

    CAB Daily Chart

With the breakout above the MYR1.60 level, foresee CAB should heading to the all-time-high level of MYR1.77.

Recommend to set a stop loss at any price below MYR1.48.

KPSCB (9121) made a breakout of resistance level of MYR0.555 on 12/1/2016 with substantial increased in traded volume and Bollinger Band opened wider. The breakout push KPSCB moved further higher in the next day with traded volume was higher than the previous day and Bollinger Band continued to opened wider.

KPSCB Daily Chart

Should the bullish momentum continues in the next trading days, foresee KPSCB will testing the next target level of MYR0.67.

Suggest to put a cut loss at any price below MYR0.505.

Other technical stocks to watch are: DENKO (8176), ESCERAM (0100), YEELEE (5584) & KIMHIN (5371).


Good luck & happy trading!

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