FLOWS;
BUYS: SIME,
UEMLand, YTL
SELLS: JCY, Maybank, MRCB
Technical Stock Alert;
1) MUDAJAYA (RM2.59) -
recent sell off over concerns over its ability to secure coal supply for its IPPs have presented a
buying opportunity in one of the cheapest mid cap construction companies listed
on the KLSE. Its price has been on the slide since touching a high of RM3.28
last month. Technically its SMA 200 at RM2.50 should provide an immediate
support as RSI at oversold levels of 28.
Trading at only a current year PE of 5.8x we rate it a trading buy with an
immediate upside of RM2.80.
2) SUNWAY (RM2.41 ) -
in line with the overall weaker construction sector, SUNWAY's price is now touching its year low
despite having a more diversified portfolio than the other players. Its 36%
stake in Sunway REIT provides it's a stable base income with growth coming from
its property development arm and sizeable construction division with RM2.8bn
orderbook. RSI oversold at 22, trading buy with upside target of RM2.60.
