RHB Invest Highlights
Friday, November 26, 2010
Top Story
Public Bank:
- A bank for volatile times.
- Fair value is RM15.40 from RM14.70. Outperform call reiterated.
Corporate Highlights
AFG:
- Key growth areas and targets unchanged.
- Maintain forecasts, fair value of RM3.60 and Market Perform call.
Notion Vtec:
- Camera focus.
- Fair value is raised slightly to RM1.68 from RM1.54. Maintain Underperform.
Technical Highlights
Daily Trading Strategy:
- Tough resistance near the 10-day SMA.
- FBM KLCI has to remove both the 10-day and 40-day SMAs before it can return the robust sentiment, amid continuous speculation on more M&A activities in the near term, and optimism ahead of the listing of PetroChem on Friday.
- On a negative point, a prolonged weakness at below the 40-day SMA near 1,493 will dampen the FBM KLCI’s near-term outlook.
- Nevertheless, we expect tough resistance at the 10-day SMA near 1,503 in the immediate term
Daily Technical Watch: K. Europlus
- Follow-through buying momentum likely if it sustains above RM1.08
- Immediate Support at RM1.08
- Immediate Resistance at RM1.25
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