MORNING
CALL 26 March 2012
BUYS: UEMLand, Sime,
KEuro
SELLS: MAS,
Genting, Maybank
Technical Stock
Alert;
MPI
(RM3.07) – A
recovery in utilization rates has seen renewed interest back in the sector. MACD
has cut upwards with a breach above the RM3.10 level indicating a short term
target of RM3.20. A push further up could see it test its neckline of RM3.40.
BUY
(RL/AL)
FABER
(RM1.68) – Testing
crucial support at current levels. A break down below this support level could
see the stock form a double top and slide towards a downside target of RM1.40.
The trigger that could see such a scenario could be the loss of its15 year
hospital support services concession which expired last year and was extended
temporarily for 6 months to April 2012 pending a decision. This service
contributes on average an EBITA of RM70m-RM80m.
(DN/AL)
WASEONG
(RM2.05) – Small
double bottom formed at RM2.00 with MACD and RSI trending up. The company has
been linked to a pipe coating contract for Petronas in Turkmenistan North Malay Basin
(PT/DN)
