MORNING CALL 29 MAY
2012
FLOWS;
BUYS: CIMB, Supermax, YTL
SELLS: Dialog, IOIC, PCHEM
UEMLAND (RM2.01) -
Recent sell down small 5 leg down of wave 3 looks like completed at RM1.91 level. Technical indicator macd is cutting upwards.
A technical rebound immediate resistance at RM2.09 and RM2.18. Remains the best proxy for exposure to Johor, Iskandar
Development with an inflection point seen this year with several key projects
taking off. BUY
(AL/DN)
LION IND (RM1.18 ) - Price has fallen to strong support
levels of RM1.18 after dipping 16% alone this month. MACD has shown signs of
cutting up and RSI for the first time this month is trending back up to 30.
Trading down to only 0.26x book value, the weak outlook in the steel industry seems
priced in. Upside could come from demand creation from China's expected 2
trillion yuan stimulus package. Trading BUY.
