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Technical Focus – 28th Sep 20

Operates at a production space in excess of 3.5m sqf in both Malaysia and Vietnam with products sold to over 60 countries in 5 continents across the globe. • A one-stop furniture manufacturer; well equipped to capitalise on the stronger demand from the US-China trade diversion. Demand to remain stable on the recovery in US housing starts data that is currently near pre-Covid19 levels, coupled with the rising adoption of work from home. Technically, price has formed a flag-formation breakout above RM1.42 which may propel share price higher towards the next resistances at RM1.59-RM1.70 with long term target at RM1.80.
technical focus

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AME Elite Consortium Bhd – 2nd Dec 20

The proposed AME REIT would also provide stable and recurring income to investors, with at least 90.0% of its income to be distributed as dividends to unitholders. We note that slightly more than half of the current tenants of the industrial properties has more than 5 years of lease under their agreements. Additionally, AME REIT is expected to benefit from lower tax rate compared to prevailing corporate tax rate at an average of 23.4% recorded over the past 4 years.

technical focus

Technical Focus – 2nd Dec 20

Established historical track record since inception in 1975 with strong brand presence in the Malaysia household market. Demand will be relatively healthy, owing to the rising awareness of personal hygiene following the Covid-19 pandemic. Disposal of loss-making toilet rolls and tissue manufacturing subsidiary; NTMP Paper Mill (Bentong) Sdn Bhd allow the group to streamline and focus on the existing core businesses. Technically, price has experienced a flag-formation breakout above RM0.73, targeting the next resistances at RM0.795-0.815 with long term target at RM0.90.

market pulse

Swift recovery

Expectedly, the FBM KLCI performed a swift recovery as the key index recouped most of its previous session losses to re-claim the 1,600 psychological level. We reckon some stability will ensue with further upsides are in the cards as investors continue to focus on the economic recovery progress. Meanwhile, we believe that the lower liners will continue to enjoy their upward momentum as liquidity remains well on the equities market with investors capitalising on the positive market sentiment.

market pulse

Tempered by MSCI portfolio re-balancing

The FBM KLCI started off the week on a dour note alongside with the weakness across regional peers on the increasing geopolitical tension between US and China. Still, the FBM KLCI recorded 95.82 pts on gain (+6.5% MoM) during November 2020. Although we see renewed volatility unfolding, we reckon that bargain hunting activities may take precedence after the sharp fall yesterday. On the other hand, we think that the lower liners are poised for further upsides, driven by the improved trading liquidity which may extend the rotational play.

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