MORNING CALL 5 March 2012
FLOWS;
BUYS: YTL, MRCB, Latexx
SELLS: Maybank, KEuro, AMMB
Technical Stock Alert;
POS (RM2.64) - Price drifted down to its lowest levels this year after touching a high of RM2.96. The weakness also corresponds with disappointing news of its unsuccessful lobbying thus far with the Federal Land commission to relax the usage of its postal grounds. It will be announcing a fresh set of transformation plans this month and this could provide the much needed catalyst to push the price above the RM3.00 resistantance levels. BUY
CIMB (RM7.33) - Price breaking above recent double top resistance. Immediate target level of RM7.80.
Stock of the Day
MAS-PA (RM0.91)
Vol on MAS-PA has picked up since Jan 2012 as preference shrs enters its last yr of trading before expiring on 31/10/12. There is 415,127,155 outstanding out of 417,747,955 issued. RCPS which has not been converted will be automatically redeemed by MAS at the issue price of RM1.00 within 30 days of 30 Oct 2012. This would provide an immediate upside of 9.3% on the current price of 91.5 sen over a period of 9 months.
