MORNING CALL 10 AUG 2012
FLOWS:
BUYS: Axiata,
Armada
SELLS: TNB, UEMLand, Maybank
Technical Stock Alert:
TMCLife (RM0.32) - may see spillover interest from
Stemlife +8% yesterday as both share the same s/h in Berjaya Corp. Technically
poised for a rebound as MACD is inching upwards with 10D, 50D SMA converging at
this level, limiting downside. Co also just announced disposing off its
Tropicana Medical Centre in Pg in line with its objective to divest -ve
yielding assets to redeploy resources elsewhere. This leaves co with 180 bed
Medical Center in Kota Damansara. Accumulate with possibility of breaching above
its trading range with a target of RM0.42.
Airasia (RM3.68) - stk has been declining since hitting
its recent hi of RM3.85 even as MACD turned oversold and RSI at 44.
Technically well supported at 200D SMA lvl of RM3.60. Co has made several new
changes incl appointment of new CEO to spearhead further growth for co as
noticeable from recent domestic expansion plans in Indonesia via Batavia Air
purchase. Other catalysts include AirAsia Japan's recent launch and potential
new JVs in Korea and China. BOW
