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TH Plantations (THP MK; RM2.10) – BUY
FY12P/E: N/A, P/BV: 2.0x
• TH Plantations broke out of its triangle pattern few days ago, suggesting that
follow through momentum has picked up. If we are right, prices would likely
march towards RM2.20 and RM2.28 soon. The 30-day SMA is also poised
to cut above the longer term 50-day SMA, which is another positive sign.
• Technical landscape is improving. MACD has staged a positive crossover
while RSI is also rising.
• As long as prices remain above the triangle channel at RM2.00-RM1.95, the
odds favour the bulls. Hence, traders may start to nibble now to ride on the
wave. Only a break below RM1.95 would trigger our stop.
TH Plantations Bhd is an investment holding company. The company also
cultivates palm oil, processes FFB, Markets CPO, PO, and FFB, as well as
provides management services.
Boustead Holdings (BOUS MK; RM5.81) – SELL
FY12P/E: 8.7x, P/BV: 1.3x
• Boustead has been trading between the RM5.20-RM6.20 range for the past
few months. Hence, traders might want to use any rebound towards the
resistance channel to lock in profits.
• Technical indicators are showing signs of exhaustion. MACD histogram bars
are losing some steam while RSI too has hooked downward.
• Unless prices swing past the RM6.25 level, we would rather stick with the
bear’s camp for now. For traders who wish to have exposure to Boustead,
buy near the RM5.20 support channel.
Boustead Holdings Berhad is an investment holding company. The
company, through its subsidiaries, develops properties, provides financial
services, and operates oil palm and rubber plantations. Boustead Holdings
also manufactures building materials, food, toiletries, housewares, and
provides shipping services.
Malaysia Building Society (MBS MK; RM2.30) – SELL
FY12P/E: N/A, P/BV: 4.2x
• Looking at the chart, there is a high possibility that the stock has found its
near term peak. Even though prices could still bounce back a tad higher, we
think gains are likely capped at RM2.33-RM2.38. However, prices need to
fall below the RM2.17 level to confirm that the uptrend has reversed.
• MACD histogram bars are losing pace while RSI too has flattened out,
suggesting that buying momentum has faded.
• Our strategy here is to unload on strength, preferably near the stipulated
resistance levels. However, always put a buy stop at RM2.40, just in case.
Meanwhile, support is at RM2.17, RM2.09 and RM1.93.
Malaysia Building Society Berhad grants loans on the security of freehold
and leasehold properties. Through its subsidiaries, the company also operates
property development and leases real property.
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