FLOWS.
BUYS: Armada, CIMB, Digi
SELLS: IOIC, YTL, TNB
Technical Stock Alert:
Alam M (RM0.78) - Stock has recently broken out of its downward channel. Continued trading interest above 80sen could see the stock touch its short term resistance levels of 90sen. BUY
Ramunia (RM0.395) - Stock has been consolidating well above the 38sen level after Bursa approved its regularization plan on 18/1. Looking to break above 40sen. Immediate target 45-50sen levels. Completed purchase of FPSO at USD85mil and Palau Indah fabrication yard. Possible contract awards after removal from PN17 affected list.
Stock of the Day
Wah Seong - (RM2.13)
- Refocusing its efforts to the domestic markets. Aiming to capitalize on Petronas pipeline rehabilitation program where a significant portion of the pipes are over 30 years old and in need of replacement.
- They are also the main candidate to secure pipe coating jobs for Petronas's North Malay Basin Project.
- Chances of securing contracts in Australian LNG fields of Julimar and Browse enhance as main competitor, Bradshaw will be preoccupied with the jobs they secured last year in two other LNG fields.
- A push above the RM2.17 levels (SMA 200) could see the stock rerate back up to its 52 wk high of RM2.45. BUY
