FLOWS;
BUYS: Sime, UMW, PBBank
SELLS: Perisai, MRCB, JCY
Technical Stock Alert;
DIALOG (RM2.24) - Current consolidation phase between
RM2.16-RM2.26 looks likely to be broken to the down side with its SMA 50 day
trending down to cut below its SMA 200 day.
This move could signal a potential downside of RM2.12.
The risk to the downside target could be an earlier than
expected announcement for an end user to its Pengerang Phase 2 Tank Terminal
project.
SIME (RM9.78) - Current weakness in commodity prices have
not spare CPO which is down 9% off its high of RM3655/mt. Sime's technical
indicators have begun to show a negative divergence with its MACD and RSI
moving lower. We expect its price to pullback to an immediate support of RM9.48
and possibly RM8.80.
Recently its JV company Malaysia-SinoHydro Corp submitted
disputed amount claims of RM670m for civil works on the Bakun Dam to Sarawak
Hidro.