RHBInvest Research Highlights 27th October 2010

Wednesday, October 27, 2010

Top Story


  • Early bumper dividend.
  • Maintain Outperform call with fair value of RM26.35.

Technical Highlights

Daily Trading Strategy:

  • Our positive bias view stays.
  • Index will march higher to above the 1,500 psychological level and the recent high of 1,503.82 soon, if the robust buying interests continue in the near term.
  • Upon removal of 1,503.82, the bulls will lift the market higher and aim the index towards the all-time high at 1,524.69.
  • Given the strong demand on the plantation counters on the back of the rallying CPO futures of late, and the renewed buying interests on the banking counters.
  • The local benchmark index is likely to uphold its recovery mode today.
  • Immediate support is near the 10-day SMA of 1,491.

Daily Technical Watch: AMMB

  • Poised to confirm a breakout pattern from RM5.94 congestion area.
  • Immediate Support at RM5.94
  • Immediate Resistance at RM6.50


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