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Re-capturing 1,600

Following the rebound yesterday, we believe that the local bourse is now attempting to find stability as investors bargain hunt and nibble on beaten down stocks. While there are signs of return in foreign funds, we remain cautious amid the negative market undertone as the number of new Covid-19 cases in Malaysia surpassed 3,000 mark yesterday. The lower liners are expected to remain in the purple patch, though we do not discount the possibility of rotational play may take precedence amid the improved trading liquidity.
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Serba Dinamik Holdings Bhd – 1Mar21

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technical focus

Technical Focus – MESB

Primarily involved in the retailing and trading of quality leatherwear products and operates a few boutiques and over 270 consignment retail counters throughout premier departmental store in Malaysia. Consumer spending may accelerate following the roll-out of Covid-19 vaccine across the globe. Solid balance sheet with a net cash position of RM19.1m in 2QFY21, translating to net cash per share of 18.0 sen (c.35.2% of share price). Technically, price has rebounded to form a flag-formation breakout above RM0.55, targeting the next resistances at RM0.575-0.595, with long term target at RM0.63.

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