KLSE TechWiz - Kenanga 6483

Stock Name : K&N Kenanga Holdings Berhad
Stock Code : 6483

Price : RM 0.61 (16th January 2015)
Target Price : RM 0.70 (14.7% upside, or 9 cents)

Kenanga had seen forming a base to prepare for an uptrend. Based on the charts, Kenanga had formed a "golden cross" where MA 20 had crossed MA 50, and the current price had just started trading above MA 50, suggesting a start of uptrend wave.

According to Elliot 5 Waves analysis, Kenanga should be entering the 3rd upswing wave, possibly hitting RM 0.65, while consolidating there after before riding the 5th upswing wave that could hit RM 0.70.

Kenanga is currently resting at a good support at the range of RM 0.60.

There is no significant volume at the time being, however, a build up in volume might start to see Kenanga trading above RM 0.61 already.

Price Target :  1st - RM 0.65 
                       2nd - RM 0.70


Reference News

- Mr Chay Wai Leong recent open market purchase.

- Stronger display of 3rd quarter result

KLSE TechWiz - PRKCORP 8346

Stock Name : Perak Corporation Berhad
Stock Code : 8346

Price : RM 2.81 (16th January 2015)
Target Price : RM 3.20 (13% upside, or 39 cents)

PRKCORP had been seen consolidating well after rising up to the trading range of RM 2.80.

PRKCORP might be looking to form another upside wave towards the resistant level at RM 3.20.

KLSE TechWiz - Benalec 5190

Stock Name : Benalec Holdings Berhad

Stock Code : 5190

Price : RM 0.665 (15th January 2015)
Target Price : RM 0.90 (35% upside, or 23.5 cents)

Benalec had recently formed a new uptrend based on the recent movement. According to Elliot 5 Waves Theory, Benalec will be starting the 3rd wave in the uptrend movement. Thursday's break above RM 0.65 with 6.45 million shares transacted is a good indication for a higher uptrend to come.

Based on the technical outlook, Benalec will be starting to make a come back soon, with the nearest resistant to be seen at RM 0.90, while current quick support to be seen at RM 0.65.

Benalec will be looking to trade above the MA 50 line, with RSI showing the urge to inch higher towards the overbought zone (70%).

Benalec will be looking to see first hurdle at RM 0.75, and subsequent to RM 0.90.

Summary of Reference News

- Benalec had submitted a Detailed Environmental Impact Assessment (DEIA) report in late October 2014, and is currently waiting for official approval of the report.

- Benalec expects to obtain approvals for the DEIA in 1Q of 2015 for the Tanjung Piai Integrated Petroleum Hub and Maritime Industrial Park.

- Benalec current on going works includes 240 acres to be reclaimed in Malacca. Oriental Boon Siew start work order in Malacca will add another 415 acres.

- Benalec is sitting on some 400 acres of landbank spanning from Pulau Indah to Malacca.

 Source - The Sun Daily