Evergreen Fibreboard (EVF MK; RM1.43) – BUY
FY12P/E: N/A, P/BV: 0.3x
• Evergreen Fibreboard bounced off strongly yesterday on rising volume.
There is a good chance that prices may swing above its resistance channel
soon. The breakout, if it materialises, would also push candles above its
200-day SMA.
• Technical landscape is improving. MACD has staged a positive crossover
while its RSI has also hooked upward.
• Traders may start to nibble now. Once the RM1.50 level is taken out, prices
should swing towards RM1.60 and RM1.68 next. Put a stop at RM1.34, just
in case.
Evergreen Fibreboard Bhd. manufactures medium density fiberboard (MDF),
knocked-down wooden furniture, and doors. The company, through its
subsidiaries, also manufactures particle board and MDF and laminates MDF,
particleboard, and plywood.
Leweko Resources (LEWE MK; RM0.195) – BUY
FY12P/E: N/A, P/BV: 0.6x
• Leweko is also trying to penetrate above its resistance trend line. If this level
is taken out, there is a good chance that prices may swing towards RM0.21
and RM0.23 next.
• MACD histogram bar has turned positive while RSI is also rising. Short term
trend favours the bulls and we see any pullback as an opportunity to
accumulate.
• However, be quick to cut loss if the candles fall below its key moving
averages at RM0.175-RM0.17.
Leweko Resources Berhad is an investment holding company and provides
management services. The company, through its subsidiaries, provides timber
harvesting, processes and manufactures sawn and molded timber, and
cultivates oil palm.
Tiger Synergy (TIG MK; RM0.155) – BUY
FY12P/E: N/A, P/BV: 0.3x
• Tiger Synergy tried to push above its 30-day and 50-day SMAs yesterday. If
it succeeds, the candles would then inch towards the resistance trend line at
RM0.19. Thereafter, the following targets are RM0.22 and RM0.24.
• MACD is poised to return to the black while RSI too has hooked upward.
Near term uptrend is still intact.
• The odds favour the bulls as long as prices hold above the support trend line
(now at RM0.135). Only a fall below RM0.13 would trigger out stop.
Tiger Synergy Bhd, through subsidiaries, operates manufacturing and real
estate development businesses. The company manufactures furniture parts
and wood-based products, and develops residential and commercial real
estate projects.