Proton Holdings (PROH MK; RM3.37) – SELL
FY12P/E: 9.1x, P/BV: 0.4x
• Recent countertrend rebound was weak. It has failed to reach the 23.6% FR
level. Looking at the chart, there is a high possibility that prices may retest
its previous low of RM3.16 again. If this level fails to hold, the following
support levels are RM2.90 and RM2.60.
• MACD is still in the red while RSI remains in a consolidation mode. Even if
prices rebounded a tad higher, sustainability remains a concern. Near term
gains are likely capped at RM3.47-RM3.59.
• We view any rebound as an opportunity to take profit. Unless the candles
swing above its 30-day SMA (now at RM3.66), we would rather stick with
the bear’s camp.
Proton Holdings Berhad is an investment holding company. The company,
through its subsidiaries, manufactures, assembles, and sells motor vehicles
and related products such as accessories, spare parts, and other components.
Media Chinese International (MCIL MK; RM1.13) – SELL
FY12P/E: 11.7x, P/BV: 1.6x
• Media Chinese International broke below its triangle support yesterday. This
is a worrying sign as it may signal the end of its rally from the February’s
low. Prices would likely stay lethargic over the next few days as the bears
gain strength.
• Indicators are showing signs of exhaustion. MACD histogram bars are losing
pace while RSI has also dwindled below the overbought territory.
• The odds now favour the bears. Hence, selling into strength is likely the best
strategy here. However, put a buy stop at RM1.24, just in case. Support is
seen at RM1.05 and RM0.985.
Media Chinese International Limited, through its subsidiaries, publishes
Chinese newspapers, periodicals, and books in Hong Kong, Malaysia, the
United States, Canada and China. The company also provides travel and
travel-related services. In addition, the Company provides advertising, internet
contents, and travelrelated services through its various portals.
Bertam Alliance (BERT MK; RM0.72) – BUY
FY12P/E: N/A, P/BV: 1.0x
• Bertam broke out of its triangle resistance yesterday. If the resistance-
turned-support channel holds, there is a good chance that prices may inch
closer towards RM0.77 and RM0.805 next.
• Technical landscape is improving. MACD has staged a golden cross while
RSI too has hooked upward. Our bullish tone remains intact until prices
violated the triangle support at RM0.66.
• Risk takers may start to nibble now while others may take position near the
RM0.68 level. Be quick to cut loss if the RM0.66 level is breached.
Bertam Alliance Berhad is an investment holding company which provides
management services. Through its subsidiaries, the company manufactures
and markets industrial materials and hardware products. Bertam Alliance also
operates property development and management and provides general
contractor services.
FY12P/E: 9.1x, P/BV: 0.4x
• Recent countertrend rebound was weak. It has failed to reach the 23.6% FR
level. Looking at the chart, there is a high possibility that prices may retest
its previous low of RM3.16 again. If this level fails to hold, the following
support levels are RM2.90 and RM2.60.
• MACD is still in the red while RSI remains in a consolidation mode. Even if
prices rebounded a tad higher, sustainability remains a concern. Near term
gains are likely capped at RM3.47-RM3.59.
• We view any rebound as an opportunity to take profit. Unless the candles
swing above its 30-day SMA (now at RM3.66), we would rather stick with
the bear’s camp.
Proton Holdings Berhad is an investment holding company. The company,
through its subsidiaries, manufactures, assembles, and sells motor vehicles
and related products such as accessories, spare parts, and other components.
Media Chinese International (MCIL MK; RM1.13) – SELL
FY12P/E: 11.7x, P/BV: 1.6x
• Media Chinese International broke below its triangle support yesterday. This
is a worrying sign as it may signal the end of its rally from the February’s
low. Prices would likely stay lethargic over the next few days as the bears
gain strength.
• Indicators are showing signs of exhaustion. MACD histogram bars are losing
pace while RSI has also dwindled below the overbought territory.
• The odds now favour the bears. Hence, selling into strength is likely the best
strategy here. However, put a buy stop at RM1.24, just in case. Support is
seen at RM1.05 and RM0.985.
Media Chinese International Limited, through its subsidiaries, publishes
Chinese newspapers, periodicals, and books in Hong Kong, Malaysia, the
United States, Canada and China. The company also provides travel and
travel-related services. In addition, the Company provides advertising, internet
contents, and travelrelated services through its various portals.
Bertam Alliance (BERT MK; RM0.72) – BUY
FY12P/E: N/A, P/BV: 1.0x
• Bertam broke out of its triangle resistance yesterday. If the resistance-
turned-support channel holds, there is a good chance that prices may inch
closer towards RM0.77 and RM0.805 next.
• Technical landscape is improving. MACD has staged a golden cross while
RSI too has hooked upward. Our bullish tone remains intact until prices
violated the triangle support at RM0.66.
• Risk takers may start to nibble now while others may take position near the
RM0.68 level. Be quick to cut loss if the RM0.66 level is breached.
Bertam Alliance Berhad is an investment holding company which provides
management services. Through its subsidiaries, the company manufactures
and markets industrial materials and hardware products. Bertam Alliance also
operates property development and management and provides general
contractor services.