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Still convalescing from the heavy selldown post GE, our July alpha picks delivered a simple average gain of 11.3%, above FBMKLCI’s +5.5%, as the new government’s decisions on mega projects have been less disruptive than feared, thus allowing construction stocks to partially recover. We add MRCB to...
SKP RESOURCES BHD SKPRES has gapped- - up to close above the EMA20 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM1.63- - RM1.75 levels. Support will be pegged around the RM1.34 level ...
From bad to worse: Stop work order for ECRL ■ Malaysia Rail Link (MRL) has confirmed The Edge Markets’ report that MRL had instructed CCCC to suspend construction works of the ECRL with immediate effect. ■ We are not surprised by this development as the suspension of works is likely to make way...
KAREX BERHAD Stock Code: 5247 KAREX gained 5 sen yesterday (5.88%), closing at RM0.900, backed by above-average trading volume. Chart-wise, the stock has been trading in a range between RM0.750 to RM0.850 for the past two weeks after a short rally in early June. Yesterday’s...
Symmetrical triangle breakout. SCICOM could be riding on the healthy tourist growth (11.8% in 2017) in Cambodia, following the award of contract from Ministry of Tourism of Cambodia. SCICOM has a net cash of RM45.8m (12.9 sen/share) as of end March 2018 and its dividend yield stood at 4.5%. The share price...
Reassurance From New Council Of Eminent Persons The Council of Eminent Persons held a briefing for investors, shedding some light on certain broad-based measures. However, details of fiscal reforms will only be announced in the first 100 days, aimed at raising disposable income. Architects of the PH...
GE14 Results: Sweeping Changes Pakatan Harapan creates history with its surprising sweep of parliamentary and state seats in the most hotly contested elections in Malaysia. While widely expected, post- GE market jitters should create good buying opportunities as the sell-down may not be too deep should the...
We found that the historical performance of the KLCI in May has been mixed, registering average mom negative return of 0.1% over the past 10 years and posting positive mom declines in five out of the past 10 years. However, over a 40-year period, it posted an average mom gain of 1.4%. On the local...
● The FBM KLCI drifted lower on Friday, taking cue from the weak close on Wall Street a day earlier and selling-pressure in selected blue chips. The key-index, however, closed 1.0% W.o.W higher on weekly basis, lifted by foreign buyinginterest. The lower liners – the FBM Small Cap (-1.0%), the FBM...
Trading Idea - KOBAY TECHNOLOGY BHD (stock code 6971) ● Target Price RM1.30 ● Last closing price RM1.12 ● Potential return 16.0% ● Support RM1.05 ● Stop Loss RM0.950 Possible upside. KOBAY is showing signs of recovery from recent major pullback. Improving RSI and MACD...
Many stocks have been caught up in the sell-off, which include domestic-centric stocks that should not have been directly impacted by a limited trade spat. We highlight four such stocks: Genting Malaysia, Mynews Holdings, Petron Malaysia and WCT. US And China Trade Tariffs There is no trade war...
The upcoming general election could be a moderate market sway factor; 2H18’s market outlook would be cautious regardless of the outcome. While ruling coalition BN is set to retain the parliamentary majority in a three-way contest, there are still uncertainties relating to popular vote count and...
Malaysia (Underweight) “Earnings growth still intact”, 5 5 March Bernard Ching, Macro conditions in Malaysia remain encouraging 4Q17 GDP growth of 5.9% was ahead of expectations, which brings full-year growth to 5.9%. Going into 2018, Alliance DBS’s economist has pencilled in a 5.4%...
DAYANG ENTERPRISE HOLDINGS BHD Stock Code 5141 Target Price RM0.890 Last closing price RM0.800 Potential return 11.2% Support RM0.750 Stop Loss RM0.720 Possible for further upside. DAYANG’s price is recovering from pullback. Improving RSI and MACD indicators currently signal reasonable...
Our February alpha picks delivered a simple average return of 2.3%, outperforming the FBMKLCI’s -0.7%. The recent market pullback provides good opportunities to accumulate our March alpha picks (unchanged from February’s picks) of Ann Joo, Bumi Armada, GAQRS, Serba Dinamik, VS Industry and Yong Tai. We...
• KRONO rose 7.0 sen (10.0%) to close at RM0.770. • Yesterday’s move resulted in a downtrend breakout with MACD in bullish divergence, to signal that the share price has bottomed out and now poised for a recovery. • Key indicators are in supportive of a move higher, with the RSI now venturing...
ANN JOO RESOURCES BHD Stock Code: 6556 • Yesterday, ANNJOO gained an impressive 22 sen (6.4%) to close at intraday high of RM3.63. • Yesterday’s move marked a first breakthrough from a two-month period of consolidation. • Uptick in MACD to crossover its Signal-line, coupled with the share...
■ We hosted three speakers at our 2018 Technical, Currency and Feng Shui Day. ■ Our technical chartist indicate that the KLCI uptrend remains intact and could test the 1,900-1,950 level. ■ Our treasury team recently upgraded its end-2018 ringgit forecast to 3.85/US$. ■ Fengshui master...
ORNA - Stock Code: 5065nbsp; • ORNA climbed 5.0 sen (3.62%) yesterday to hit RM 1.43.nbsp; • Share appears to have broken out from a 2-month consolidation after few failed attempts to break past the RM1.40 resistance level.nbsp; • Overall technical outlook is turning positive with...
HUAYANG – Stock Code 5062 • HUAYANG jumped an impressive 6.5 sen (10.4% to RM0.69) yesterday, accompanied by exceptional trading volumes. • Share is now potentially showing signs of bottoming-out after hitting a “double-bottom” in December last year. • Over the past 1-2 months, MACD has...