RHBInvest Research Highlights 08th November 2010

Top Story


Media:

• MCIL still cheaper than Star.
• Overweight stance on the sector.

Corporate Highlights


Sunrise:

• Will the sun continue to shine.
• We maintain our Outperform rating with a revised fair value of RM3.00.

Technical Highlights

Daily Trading Strategy:

• Charging towards all-time high of 1,524.69.
• In fact, with the global markets rallying further on Friday following a bullish breakout rally to a fresh 2-year high in the Wall Street,
• We expect the FBM KLCI to jump start today in catching up with the recent gains in the overseas markets.
• Furthermore, Thursday’s intraday high of 1,513.41 is taken out, this will make way for the bulls to charge in full force towards the all-time high at 1,524.69 soon, in our view.

Daily Technical Watch: Genting Plantations

• Next stop, RM9.30 resistance level and RM9.40 all-time high.
• Immediate Support at RM8.60
• Immediate Resistance at RM9.30

Weekly Trading Idea: MRCB

• Poised to stage a bullish breakout from RM2.20 and RM2.22.

Strategy: Trading Buy for a bullish breakout from RM2.20 and RM2.22.

• Immediate Resistance at RM2.20
• Immediate Support at RM1.95
• Exit: Stop loss will be triggered if it loses 40-day SMA of RM2.02