MORNING CALL 9 JULY
2012
FLOWS;
BUYS: Maxis,
Mudajaya, PBBank-01
SELLS: UOADev,
SapCres, PChem
Technical Stock Alert;
Coastal (RM1.95) - Technical Chart shows a Reverse head
and shoulder to break out at RM1.94, from earlier neckline at RM2.04 from low
of RM1.67; giving a RM0.37 upside to target price RM2.31. MACD continue to
diverge on the uptrend with recent volume pick up signaling accumulation. The
company is still exploring offshore platform fabrication opportunities to take
advantage of their strategically located 100 acre Sabah shipyard strategically
located in Sandakan and could possibly be converted into a O&G fabrication
yard to cater for the offshore drilling operations in the state. BUY
(DN/RL/AL)
MAS (RM1.11) -
Technical indicators have been showing a positive divergence since late
May when its share price established a low of RM1.02. Recent double bottom at
RM1.08 with immediate SMA 50 resistance at RM1.15. A breach above these levels
should see its price touch a short term target of RM1.30. The recent revival
can be attributed to its better financial standing after the issuance of a RM1bn
sukuk line for loan refinancing and working capital, while the delivery of its
new AIRBUS fleet will help with cost savings via more efficient fuel usage. BUY
