MORNING CALL 17 April
2012
FLOWS;
BUYS: YTLC,
PBBank-01, Axiata
SELLS: MRCB, JCY,
TimeCom
Technical Stock Alert;
1) CIMB (RM7.61) -
MACD and RSI beginning to trend down, likely to test SMA 200 at RM7.55
with stronger support seen at RM7.38. Key down side risk catalyst includes i)
Elections outcome and integration and retention of staff from recent
acquisition of RBS's cash equities, ECM and M&A biz.
2) MSM (RM5.13) -
threatening to break below its upslope trend line established since late Jan from RM4.85 to a high of
RM5.16. A dip below RM5.10 could signal a trend reversal brought about
possibly by concerns over the recent rise in sugar subsidy may not be
sufficient to cover the rise in raw material cost for MSM to maintain its
historical 20% margins.
