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Technical Focus – 2Feb21

Engages in manufacturing and distributing bakery products that are marketed under the trademarked brands of “Top Baker” and “Daily’s”. Retail outlets expansion plan in the Central region by setting up more new retail outlets in Klang Valley and plans to establish a franchise system, whilst continue to expand its distribution network in the Northern region. Demand for bakery to be sustainable as bread and related products, particularly sandwich loafs are deemed to be affordable essential food for the mass. Technically, we may anticipate for a resistance breakout above the RM0.25 level to target the next resistances at RM0.27-0.29 with long term target at RM0.335.
technical focus

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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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