RHBInvest Research Highlights 22nd October 2010

Top Story

Telecom:

• Sizing up the pure mobile domestic players – Maxis vs. DiGi.
• No change to our Neutral stance on the sector.
• Maintain Outperform on Maxis (FV=RM5.75)
• Maintain Outperform on DiGi (FV=RM26.35)
• TM (Market Perform, FV=RM3.55)
• Axiata is still a Market Perform (FV=RM4.75)

Corporate Highlights

MAHB:

• Sabiha Gokcen for long term prospects.
• We have raised our fair value to RM6.81 (from RM5.96). Maintain Outperform.

Fajarbaru:

• Lands RM36.5m Pasir Mas Halal Park infrastructure job.
• Fair value is RM1.37. Maintain Outperform.

Technical Highlights

Daily Trading Strategy:

• Fresh opportunity to retest 1,500
• A sustainable trading above the 10-day SMA means a return to positive trading sentiment in the short term.
• For now, the 10-day SMA becomes its immediate support level on the chart, followed by the tiny technical gap near 1,472.32 - 1,476.05.
• Robust trading volume and healthy rotational plays are expected to cap profit-taking pressure in the near term, in our view.
• Opportunity to retest the 1,500 psychological level and the recent high of 1,503.82, before gearing up to challenge the historical high at 1,524.69

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TM Rebound After Touching The Support At Uptrendline

TM Price Chart 26 November 2008

TM bounced after touching the support level uptrendline. It is already grow up with strong trend. Middle Bollinger Band broken and drove the TM price closed to RM3.20. RSI 14-days and 14-weeks turning up and the just come out from the oversold area RSI 30.

The TM share price expected to be keep going up at the moment. All the best!

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Tenaga, TM and Maybulk With Their Fibonacci Level

Maybulk Share Price November 2008

Maybulk close: RM2.16
Trend: Downtrend

TM Share Price November 2008

TM close: RM3.00
Trend: Still Uptrend

Tenaga Share Price November 2008

Tenaga close: RM6.10
Trend: Downtrend

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Telekom Malaysia (TM) Share Price Suddenly Drop

Telekom Malaysia (TM) Daily Chart - November 2008

TM is going down this week because of some reasons. RSI-14 days is turning down which is less than 30 and the price suddenly dropped. Bottom Bollinger Band 20 days also broken. The nearest support TM price is at the RM2.54 which I think will be retested soon. If the price break the first support, it is likely to be at the RM2 price support level as the TM Daily Chart above.

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