RHBInvest Research Highlights 25th October 2010

Tuesday, October 26, 2010

Top Story


  • Expansions to start contributing from FY12 onwards.
  • Fair value is RM5.50. Maintain Outperform.

Corporate Highlights

Wah Seong:

  • Gladstone/Curtis LNG projects gets environmental green light
  • Market Perform while our fair value is raised to RM2.21

Hunza Properties:

  • Headline net profit skewed by EIs.
  • Fair value is RM1.58. Maintain our Market Perform call.

Technical Highlights

Daily Trading Strategy:

  • Short-term outlook remains optimistic.
  • FBM KLCI may risk more profit-taking activities in the immediate term.
  • Investors should view this as an opportunity to collect value stocks for further positive push ahead.
  • FBM KLCI is expected to retest the 1,500 psychological level and the recent high of 1,503.82 soon.
  • Beyond that, sentiment will turn even more bullish and it will lift the index towards the all-time high of 1,524.69 next.

Daily Technical Watch: TSH Resources

  • Uptrend is likely to be maintained going forward.
  • Immediate Support at RM2.17
  • Immediate Resistance at RM2.58

Weekly Trading Idea: LBS Bina

  • Removing the recent high will spell more rallies ahead.
  • Strategy: Bargain Buy for a breakout of RM0.64 soon.
  • Immediate Resistance at RM0.64
  • Immediate Support at RM0.52
  • Exit: Cut loss if it falls below the 10-day SMA near RM0.57


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