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FLOWS
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Thursday, 14 March, 2013
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BUY
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TM, AMBANK, GENTING
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SELL
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SIME, GAMUDA, IJM
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STOCK ALERT
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STOCK NAME
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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TOPGLOV (7113)
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14/3/2013
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RM5.50
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Trading BUY
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RM5.80
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A play on a strong Q2 and 1st half results ended 28/02/13 from
a significantly lower latex price YoY. Latex price is also expected to be
supportive for the rest of the year, as
after the initial increase towards the end of last year & Jan this year,
it dropped precipitously from early Feb. This fall is due to many factors
such as the fall in oil prices which resulted in negative sentiment on
commodities linked to oil such as biodiesel-related commodities &
synthetic rubber. It is further exacerbated by the strength of the USD due to
the relative strength of the US economy which convinced hedge funds &
other investors to liquidate their commodity portfolio and stayed bearish on
commodities in general. In addition, the advancement in technology on
extracting oil & gas from shale has potentially turned US into a potential exporter
from a big importer of oil due to a higher oil production & the
substitution of natural gas as fuel. The other positive factor for TopGlove
is the strengthening of the USD vs the MYR – a 1%
increase in USD is estimated to increase eps by 9%. For the past 1 month, USD
has strengthened close to 2%. Trading buy
(PT)
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CIMB (1023)
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14/3/2013
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RM7.11
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SELL into strength
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RM6.50
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After a multi-year bull run from 2008 to 2011, CIMB has been charting
lower highs and lower lows since its peak. Recently the stock had a technical
bounce from its low of 6.90 to 7.32 in 15 days on relatively thin volume.
However, over the last 2 days, the stock gave back 50% of its bounce and
broke below a critical neckline support of 7.15. With this weak technicals coupled
with a potential sell down from any news or rumours on election, it may be
wise to trim on any bounce, and buy back below 6.50. Sell into strength.
(PT)
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Calls for MARCH Week 1/Week 2
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STOCK
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Initiation Dates
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Initiation price
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BUY/SELL
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TARGET
PRICE
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LAST PRICE
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% Change since Initiated
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MAS(3786)
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7/3/2013
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RM0.70
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ACCUMULATE
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RM0.785
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RM0.700
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0.0%
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SKEPETRO(5218)
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7/3/2013
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RM2.98
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BUY
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RM3.22
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RM3.06
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+2.7%
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SUPERMX(7106)
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8/3/2013
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RM1.91
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ACCUMULATE
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RM2.20
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RM1.93
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+1.1%
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SENDAI(5205)
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8/3/2013
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RM1.12
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BUY
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RM1.40
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RM1.13
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+0.8%
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JCY(5161)
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11/3/2013
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RM0.525
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TRIM
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RM0.32
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RM0.535
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+1.9%
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GTRONIC(7022)
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11/3/2013
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RM1.82
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BUY
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RM2.20
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RM1.74
(ex 0.05)
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-0.5%
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GENM(4715)
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12/3/2013
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RM3.58
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SWITCH
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RM3.80
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RM3.58
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0.0%
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IHH(5225)
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12/3/2013
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RM3.51
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SELL into strength
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RM3.30
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RM3.51
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-0.6%
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CMMT (5180)
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13/3/2013
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RM1.80
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ACCUMULATE
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RM2.00
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RM1.76
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-2.2%
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GASMSIA (5209)
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13/3/2013
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RM2.84
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SELL into strength
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Buyback RM2.60
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RM2.86
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+0.7%
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