FLOWS;
BUYS: Sime, MAS, DRBHcm
SELLS: JCY, CIMB, BJToto
Technical Stock Alert;
MRCB (RM2.12) - Current market consolidation is providing an opportune time to accumulate stocks which had run up earlier. MRCB achieved a recent high of RM2.27 after breaking out from its ST resistance levels of RM2.13. The price has now retraced back to these levels. BUY on weakness with stronger support at RM2.05.
Maybulk (RM1.91) - The stock was one of the outperformers in Dec/Jan, rising from RM1.40 to a high of RM2.73. The stock has since fallen back substantially since the company denied any knowledge of the privatization rumours. The stock should find some initial support between the RM1.80-1.90 levels.
Stock of the Day
KEuro - (RM1.24)
- Pay no premium over the final awarding of the West Coast Highway after the price retraced from its high of RM1.45.
- Recap, its 64.2% owned West Coast Expressway SB obtained approval from the Public Private Partnership Unit of the PM's Deptn to buil a RM7.07bn highway linking Banting to Taiping. The highway will cover 316km of which 224km will be tolled. The project is awarded based on a BOT basis with a concession period covering 60 years.
- Buy on weakness at current levels of RM1.25 with a stop loss of RM1.16. Medium term target of RM1.60.