Flows;
BUYS: AMMB, Maybank, Axiata
SELLS: TNB, UEMLand, CIMB
Technical Stk Alert;
Integra (RM1.32) - stk has been trading within a tight RM1.32-1.37 range for past few wks. MACD has turned oversold-accumulate with possibility of breaking above the trading range to head towards its old double top formation at RM1.70. Recent corporate developments incl: directors reshuffling, increased capacity handling of coal for TNB's power plants in Manjung, Perak as well as possibility of securing an agreement with Vale on usage of its ports.
UEMLand (RM2.31) - Price has retraced from high of RM2.47 on recent developments in Tebrau/Danga Bay news and has been consolidating arnd RM2.30 lvls. MACD has been at oversold lvls since beginning of 2012 in line with recent underperformance of 2nd tier GLCs. Interest may rotate back into this largest landbank owner in IDR as newsflows on more FDIs, improved bilateral r/s with Spore and property launches emerge later this yr. TRADING BUY
Stk of the Day
Orient (RM5.65)
- vol picked up today as price spurted +5% indicating a breakout from its trading range of RM5.30 lvls.
- MACD is seen cutting upwards after being at oversold lvls since beginning of the yr.
- Co is sitting on cashpile of RM2.2bn with assets still at BV since 1970's.
- Recent diversification from auto into plantation and property development augurs well for co following expectations of improved CPO px due to adverse weather conditions.
- Trades at 25% disc to NTA RM7-Accum with immediate upside at RM6 but longer term outlook nearer to NTA.