Mitrajaya Holdings (MHB MK; RM2.16) – BUY
FY12P/E: N/A, P/BV: 0.9x
• Mitrajaya is testing the triangle resistance. A breakout above RM2.19 would
likely push prices towards RM2.36 and RM2.56 next. With the candles still
holding above its key moving averages, we think the bulls have the upper
hand here.
• Technical landscape is improving, reinforcing our short term positive stance
on the stock. MACD has staged a golden cross while its RSI is also rising.
• Risk takers may start to nibble now while others should wait for a pullback
towards its 30-day SMA before pulling the gun. A fall below its triangle
support (now at RM1.96) would trigger our stop.
Mitrajaya Holdings Berhad is an investment holding company. Through its
subsidiaries, the company constructs buildings and roads, provides civil
engineering services, supplies construction materials, and manufactures and
sells ready-mix concrete. Mitrajaya Holdings also invests, manages and
leases plant and machinery.
SapuraCrest Petroleum (SCRES MK; RM3.64) – BUY
FY12P/E: 15.8x, P/BV: 4.2x
• SapureCrest is trapped in a triangle formation, which is usually a
continuation pattern. As the previous trend is up, we think there is a good
chance that prices may rise towards RM3.90 and RM4.20 next.
• Technical landscape remains compelling. MACD histogram bars have just
turned positive not long ago while RSI is also above the 50pts mark.
• Despite the bullish reading, one should also beware of its downside risk. A
fall below the triangle support (now at RM3.43) would negate this trend.
SapuraCrest Petroleum Berhad is an investment holding company. The
company, through its subsidiaries, charters vessels, installs offshore platforms
and marine pipelines, drills offshore oil wells, manages rigs that are involved in
drilling offshore oil wells, fabricates offshore structures, supplies equipment for
oil and gas activities, and provides offshore geotechnical services.
Keck Seng (KS MK; RM4.13) – SELL
FY12P/E: N/A, P/BV: 0.8x
• Keck Seng violated its neckline support of the double top formation few
weeks back and since then, prices have been making lower highs and lower
lows pattern.
• The support-turned-resistance channel is a level of significance. With the
candles also trading below its 30-day and 50-day SMAs, we view any
rebound as an opportunity to take profit. Near term gains are likely capped
at RM4.24-RM4.29.
• MACD is still in the red while RSI has hooked downward. A slip below its
200-day SMA would indicate more downside ahead.
Keck Seng (Malaysia) Berhad cultivates oil palm and cocoa and processes
and markets refined palm oil products. Through its subsidiaries, the company
also develops housings, invests in properties, manages golf clubs, and
operates hotels. Keck Seng also manufactures and trades nutriceutical and
health-care materials.
FY12P/E: N/A, P/BV: 0.9x
• Mitrajaya is testing the triangle resistance. A breakout above RM2.19 would
likely push prices towards RM2.36 and RM2.56 next. With the candles still
holding above its key moving averages, we think the bulls have the upper
hand here.
• Technical landscape is improving, reinforcing our short term positive stance
on the stock. MACD has staged a golden cross while its RSI is also rising.
• Risk takers may start to nibble now while others should wait for a pullback
towards its 30-day SMA before pulling the gun. A fall below its triangle
support (now at RM1.96) would trigger our stop.
Mitrajaya Holdings Berhad is an investment holding company. Through its
subsidiaries, the company constructs buildings and roads, provides civil
engineering services, supplies construction materials, and manufactures and
sells ready-mix concrete. Mitrajaya Holdings also invests, manages and
leases plant and machinery.
SapuraCrest Petroleum (SCRES MK; RM3.64) – BUY
FY12P/E: 15.8x, P/BV: 4.2x
• SapureCrest is trapped in a triangle formation, which is usually a
continuation pattern. As the previous trend is up, we think there is a good
chance that prices may rise towards RM3.90 and RM4.20 next.
• Technical landscape remains compelling. MACD histogram bars have just
turned positive not long ago while RSI is also above the 50pts mark.
• Despite the bullish reading, one should also beware of its downside risk. A
fall below the triangle support (now at RM3.43) would negate this trend.
SapuraCrest Petroleum Berhad is an investment holding company. The
company, through its subsidiaries, charters vessels, installs offshore platforms
and marine pipelines, drills offshore oil wells, manages rigs that are involved in
drilling offshore oil wells, fabricates offshore structures, supplies equipment for
oil and gas activities, and provides offshore geotechnical services.
Keck Seng (KS MK; RM4.13) – SELL
FY12P/E: N/A, P/BV: 0.8x
• Keck Seng violated its neckline support of the double top formation few
weeks back and since then, prices have been making lower highs and lower
lows pattern.
• The support-turned-resistance channel is a level of significance. With the
candles also trading below its 30-day and 50-day SMAs, we view any
rebound as an opportunity to take profit. Near term gains are likely capped
at RM4.24-RM4.29.
• MACD is still in the red while RSI has hooked downward. A slip below its
200-day SMA would indicate more downside ahead.
Keck Seng (Malaysia) Berhad cultivates oil palm and cocoa and processes
and markets refined palm oil products. Through its subsidiaries, the company
also develops housings, invests in properties, manages golf clubs, and
operates hotels. Keck Seng also manufactures and trades nutriceutical and
health-care materials.