MORNING CALL 13 JULY
2012
FLOWS;
BUYS: Digi, CIMB, MAS
SELLS: Sime, MPHB, Mulpha
Technical Stock Alert;
1) Media (RM2.26) - interest has picked up in MediaC
resulting in stk +7% on heavier vol in past wk while Media lags, still
languishing near its double bottom
formation at RM2.18 after retracing 20% from recent peak of RM2.80. Technically
poised for rebound as MACD just cutting upwards backed by impending adex
spending boost to come from upcoming events: GE13, London Olympics- trades at PER 12x,
supported by attractive div yield of 5%-Buy
(LJN)
2) PUNCAK (RM1.30) - volume activity has been building
for the past week after the shares established a recent low of RM1.26. There
are signs of a breakout from its 3 months consolidation especially if its price
can maintain above its SMA 50 levels of 1.34 for an immediate target of RM1.54.
The company for the past year has been beefing up other income streams,
particularly in the O&G sector which contributed positively to its 1Q
numbers. Major rerating will still hinge on resolving the valuation of Selangor
State water assets between the Federal and State Government. Trading BUY.