– Mudajaya (MDJ MK; RM3.39, BUY) – Consolidating in a bullish pennant.
– Time dotCom (TDC MK; RM0.415, BUY) – Bullish breakout.
– CBS Technology (CBS MK; RM0.525, BUY) – New 52-week high seen.
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Mudajaya (MDJ MK; RM3.39) – BUY
FY09P/E: 14.9x, P/BV: 4.1x
• The stock’s strong uptrend is likely still intact as it appears to be forming a bullish pennant. A pennant is a continuation pattern.
• The negative mode for its indicators shows that the stock is indeed in a consolidation phase. This consolidation phase would likely neutralise the overbought indicators. Once this consolidation is over, prices are expected to kick on higher from here. The next resistance is at RM3.74 and RM3.94-4.00.
• Buy now but put a stop below RM3.23, the lowest point for its pennant. The next support is at RM3.00.
Mudajaya Group Berhad is an investment holding company. The Company, through its subsidiaries, provides civil engineering and building construction, leases plant and machinery, and operates property management and development. Mudajaya also manufactures concrete products, precast concrete, and building materials.
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Time dotCom (TDC MK; RM0.415) – BUY
FY09P/E: N/A, P/BV: 1.1x
• The stock broke out of its consolidation triangle yesterday on strong volume. Furthermore, it took out its moving averages as well. Expect prices to head higher towards RM0.45-0.46 next. RM0.42 is a minor resistance.
• The indicators are looking positive at the moment. The MACD has moved back into positive territory while its RSI has moved above its resistance trend line. Both are positive signals for the stock.
• Buy on weakness with a stop placed at below RM0.39 or RM0.375, depending on trader’s risk tolerance levels.
TIME dotCom Berhad is an investment holding company. The Company, through its subsidiaries, provides voice, data, video, image communication, and payphone services. TIME dotCom also provides and markets Internet services to consumers including World Wide Web, organization and aggregation of content, on-line call center, on-line services, on-net advertising, and virtual data storage.
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CBS Technology (CBS MK; RM0.525) – BUY
FY09P/E: N/A, P/BV: 2.2x
• The stock has breached its triangle resistance yesterday on strong volume and reached its new 52-week high at RM0.54 before easing off at the close. Nevertheless, prices should continue to make new highs in the coming days.
• Both indicators are supportive of the positive breakout. The MACD has confirmed its golden cross while its RSI has hooked upwards.
• Aggressive traders may want to buy now but place a stop just below the triangle support at RM0.455-0.465. The stock could soon test its resistance at RM0.59-0.615.
CBS Technology Berhad is an investment holding company. The Company, through its subsidiaries, provides specialized system integration solutions as well as sells, distributes, and develops software solutions.
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