RHBInvest Research Highlights 09th November 2010
Tuesday, November 9, 2010
Top Story
Timber:
- Looking good.
- Overweight stance on the sector.
Ta Ann: Fair value revised to RM5.92, from RM5.12. Outperform (up from MP)
Jaya Tiasa: Fair value revised to RM5.31, from RM4.73. Outperform
WTK: Fair value revised to RM1.64, from RM1.60. Outperform
Corporate Highlights
Digi:
- Prepared to hold its ground.
- Maintain Outperform call on DiGi with fair value of RM26.35
AirAsia:
- Price war looming.
- Fair value is cut from RM3.01 to RM2.10. Downgrade to Underperform from outperform.
MAS:
- To expand Firefly into a full-fledged low-cost carrier.
- Maintain Underperform. Fair value is RM1.91
Dayang:
- Jumped significantly in 2QFY10.
- Fair value raised to RM3.86/share (from RM3.01 previously), Maintain Outperform.
Technical Highlights
Daily Trading Strategy:
- A potential removal of 1,524.69 today.
- A penetration to above 1,524.69 will induce another wave of fresh buying momentum, in our opinion.
- Potentially, the FBM KLCI could head higher towards our medium-term upside projection target at 1,668 over the longer tem.
- In fact, even if it fails to take out 1,524.69, the current robust sentiment is likely to persist amid strong rotational plays and robust trading volume of late.
Daily Technical Watch: DNP Holdings
- Likely to push for further gains toward RM2.12 and RM2.37
- Immediate Support at RM1.80
- Immediate Resistance at RM2.12
