MORNING CALL 24 MAY
2012
FLOWS;
BUYS: Maybank, PChem, Axiata
SELLS: BJtoto, MISC, DRBHcm
Technical Stock Alert;
MAS (RM1.03) - Remains in its downward trend line
established since late 2010 but currently at the immediate support levels with
RSI 26 and wide divergence in MACD indicating a possibility of a rebound.
Target of RM1.28 its SMA 50 levels and a stronger resistance at
RM1.44. Sentiment recently improved after receiving assurance from its majority
shareholder Khazanah that it is committed to MAS recapitalization exercise.
Trading BUY
WCT (RM2.22) - Selling in the company appears to be
thinning out, evident by the higher close from the past two days of trading.
Short term resistance stands at RM2.36 and RM2.50. At its recent results
announcement, the company has also guided for a construction order book of
RM1.6bn in FY 2012. Trading BUY.
