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FLOWS
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Friday, 1st November 2013
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BUY
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GENTING, TM, PERISAI
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SELL
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TENAGA, SIME, MAS
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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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AIRASIA (5099)
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1/11/2013
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RM2.68
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ACCUMULATE
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RM3.50
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Share
price has corrected 10% in less than 2 weeks and is now near its support
level at RM2.66/65 level. This is despite improving fundamentals from lower
fuel cost – oil prices have retraced >14% since the end of August from
USD112 to USD96 currently; MYR has also strengthen 6% versus the USD over the
same period and the CEO has said recently that Q3 is a record quarter for the
company in terms of passengers carried, hence a continued strong load in the
midst of higher capacity being added by the company. The quarter-on-quarter
results will be particularly impressive with the lull seen in results
from the uncertainty of the general elections. The strong performance should
flow through easily into the current quarter as Q4 is seasonally the
strongest quarter because of the school holidays & the festive season.
AirAsia trades at decent valuation with forward PER of 8.6x & 7.6x for
FY14 & FY15 respectively. The current weakness in the market is an
opportunity to accumulate the stock.
(LJN)
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COASTAL (5071)
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1/11/2013
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RM3.51
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TAKE PROFIT
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-
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Since
our last call on 30/9/13, Coastal has gained by close to 20%. We would
advocate to take profit at the current level as the potential catalyst for
our call, i.e. the winning of a contract for its jackup rig (to be delivered
in mid-2014), has already been discounted in its price. This can also be seen
from its valuation where it is trading at >2 standard deviation from
its 5-year historical PER mean. In addition, the stock has practically
achieved the analyst community’s valuation as its consensus 12-month target
price is only at RM3.53. Technically, Coastal is also heavily overbought with
a RSI of 88.4%. Take profit
(LJN)
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Calls for OCT Week 3/ Week 4
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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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BRAHIMS (9474)
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25/10/2013
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RM1.50
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BUY
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RM2.04
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RM1.48
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-1.4%
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GLOMAC(5020)
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25/10/2013
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RM1.19
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Trading BUY
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RM1.45
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RM1.13
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-5.1%
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KEURO(3565)
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28/10/2013
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RM1.26
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ACCUMULATE
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RM1.58
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RM1.24
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-1.6%
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CARLSBG(2836)
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28/10/2013
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RM12.46
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Trading BUY
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RM15.00
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RM12.80
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+2.7%
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MAGNUM (3859)
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29/10/2013
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RM3.31
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Trading BUY
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RM3.60
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RM3.31
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0.0%
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KPJ (5878)
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29/10/2013
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RM6.15
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ACCUMULATE
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RM6.80
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RM6.13
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-0.4%
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IJM (3336)
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30/10/2013
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RM5.84
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ACCUMULATE
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RM6.70
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RM5.80
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-0.6%
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UOADEV (5200)
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30/10/2013
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RM2.22
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BUY
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RM2.68
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RM2.23
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+0.4%
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GTRONIC (7022)
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31/10/2013
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RM3.00
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ACCUMULATE
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RM3.50
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RM3.02
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+0.6%
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HUAYANG (5062)
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31/10/2013
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RM2.11
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BUY
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RM2.62
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RM2.16
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+2.3%
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HOLD
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CONT SELL
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SELL/ TAKE PROFIT
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CONT BUY
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STRONG BUY
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