RHBInvest Research Highlights 25th October 2010
Tuesday, October 26, 2010
Top Story
QL:
- Expansions to start contributing from FY12 onwards.
- Fair value is RM5.50. Maintain Outperform.
Corporate Highlights
Wah Seong:
- Gladstone/Curtis LNG projects gets environmental green light
- Market Perform while our fair value is raised to RM2.21
Hunza Properties:
- Headline net profit skewed by EIs.
- Fair value is RM1.58. Maintain our Market Perform call.
Technical Highlights
Daily Trading Strategy:
- Short-term outlook remains optimistic.
- FBM KLCI may risk more profit-taking activities in the immediate term.
- Investors should view this as an opportunity to collect value stocks for further positive push ahead.
- FBM KLCI is expected to retest the 1,500 psychological level and the recent high of 1,503.82 soon.
- Beyond that, sentiment will turn even more bullish and it will lift the index towards the all-time high of 1,524.69 next.
Daily Technical Watch: TSH Resources
- Uptrend is likely to be maintained going forward.
- Immediate Support at RM2.17
- Immediate Resistance at RM2.58
Weekly Trading Idea: LBS Bina
- Removing the recent high will spell more rallies ahead.
- Strategy: Bargain Buy for a breakout of RM0.64 soon.
- Immediate Resistance at RM0.64
- Immediate Support at RM0.52
- Exit: Cut loss if it falls below the 10-day SMA near RM0.57
