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OSK Ventures International (OSKV MK; RM0.365) – BUY
FY12P/E: N/A, P/BV: 0.4x
• OSK Ventures International has been hovering in consolidation mode for
months. Prices hit a low of RM0.33 before bouncing to current levels. If the
candles can remain above the RM0.33 level, there is a good chance that the
stock may have bottomed out.
• The bullish divergence on the MACD indicator suggests that selling pressure
has tapered off. Meanwhile, RSI too has hooked upward.
• Risk takers may start to nibble now while others should wait for a breakout
above its 50-day SMA. Once this level is taken out, prices should re-rate
towards RM0.40 and RM0.43. Be quick to cut loss if RM0.33 is violated.
OSK Ventures International Berhad is an investment holding company. The
company, through its subsidiaries, provides incubating high technology and
high growth companies as well as management of investments in securities of
venture companies.
Perisai Petroleum Teknologi (PPT MK; RM0.865) – BUY
FY12P/E: 8.9x, P/BV: 2.5x
• Perisai surged to a high of RM0.93 before consolidation set in. At present,
we think that the bulls still have legs. A breakout from its triangle resistance
(now at RM0.87) should lift prices towards RM0.93 again before heading
towards RM1.00 next.
• Technical landscape remains compelling. MACD is still positive while RSI is
above the 50pts mark.
• Any pullback is an opportunity to buy. However, always put a stop at below
RM0.835 as next supports are located near the RM0.78-RM0.73 levels.
Perisai Petroleum Teknologi Berhad is an investment holding company. The
company, through its subsidiaries, manufactures, supplies, commissions, and
installs corrosion control products as well as inspects and maintains pipes,
risers, and heat exchangers for oil and gas industry.
JCY International (JCYH MK; RM0.745) – BUY
FY12P/E: 8.7x, P/BV: 1.7x
• JCY rose to a high of RM0.79 after breaking out from the wedge pattern. At
present, the stock is building another foundation before making the next
charge. A breakout from its bullish flag pattern would likely push prices
towards RM0.79 and RM0.865 next.
• MACD histogram bars are losing some pace but we think the odds still
favour the bulls. RSI too has hooked upward.
• Traders may consider going long now. To limit exposure, one can put a stop
at below RM0.72, its recent swing low. A fall below the RM0.705 support
channel would indicate that a deeper correction is forthcoming.
JCY International Bhd manufactures hard disk drive mechanical
components. The company produces base plates, top cover assemblies, and
antidiscs.
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