BUY CALLS: Tebrau, RHB, Utama

Tebrau (BUY)- Finally it has broken out of the Descending Triangle on higher vol. Positive signs - MACD starting to turn up, RSI is up, 10 & 21-day MA provided good support, support at 0.55 held up & 0.50 is very strong support. This is the buying opportunity for Tebrau. Target 0.84 & 1.08 if there is aggressive buying. Initial Resistance 0.72. Cutloss below 0.55.


RHB Trading Buy - Has come to the base of the channel which has provided support now on 4 prior occassions. Trend followers may want to buy here as odds are that prices will rise from here. Also Utama is on an uptrend, so RHB will follow. MACD & RSI still down but the 10 & 21-day MA are providing good support. Target 1.32 then 1.54.
A tight Cutloss is below 1.15 which has been the low on several occassions recently (green line) but aggressive players may cut loss at 1.10 (10%).


Utama - Is almost breaking out of the 2 week symmetrical triangle. Vol is higher. If it opens up on high volume Friday, then it will be a buying opp. Resistance 1.23 & 1.37. Target 1.37. It is also supported by the 10-day MA & 1.08 support level. MACD still down but RSI is flattening & may turn up. Cut loss is below 1.07.