RHBInvest Research Highlights 25th October 2010

Top Story

QL:

• 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