RHB Invest Research

Top Story

Time dotcom:

• Biting Off More Than It Can Chew.
• TdC is trading at a relatively expensive. Not Rated.

Corporate Highlights


Kencana Petroleum:

• Proposed Fund Raising.
• Fair value is RM2.60. Maintain Outperform.

SP Setia:

• Needs a match-making.
• Fair value unchanged at RM5.94. Maintain Outperform.

Technical Highlights

Daily Trading Strategy:

• Failed To Acquire A Critical Confirmation Signal.
• Friday’s closing proved our concerns valid, as the FBM KLCI failed to earn a confirmation candle on Friday to secure further upside potential on the chart.
• In fact, with a “dark cloud cover” candle on the board, plus the flabby technical readings overall, investors may continue to unload, fearing further deterioration on the technical layout.
• The immediate support levels near the 10-day and 40-day SMAs of 1,494 and 1,498 should hold the index’s downside to avoid further profit-taking pressure.
• Otherwise, the index would head towards the recent low of 1,474 and the critical level of 1,450.

Daily Technical Watch: RCE Capital

• A fresh bearish push on the share price.
• Immediate Support at RM0.49
• Immediate Resistance at RM0.61
  

Weekly Trading Idea: OSK Holdings

• Reattracting Bargain-hunting Activities at RM1.70.
• Strategy: Buy on weakness nearer to RM1.70.
• Immediate Resistance at RM1.90
• Immediate Support at RM1.70
• Exit:Cut loss if the stock loses the recent low of RM1.65.