– Gamuda (GAM MK; RM3.29, BUY) – Accumulate on pullback.
– Hubline (HUBL MK; RM0.335, BUY) – Triangle breakout. Buy on weakness.
– Heveaboard (HAVE MK; RM0.355, SELL) – Signs of exhaustion.
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Gamuda (GAM MK; RM3.29) – BUY
FY10P/E: 19.9x, P/BV: 2.1x
• Gamuda shows some resilience amid continuing decline in mid August. Buying interest always popped up near its 50-day SMA and this has kept the bulls afloat.
• The improving technical landscape also supports the positive tone on the stock. Resistance is seen at RM3.44-RM3.50 zone and RM3.90.
• Traders should buy during pullbacks, preferably near the RM3.16 and RM2.96 support levels. Always keeps stop tight at below RM2.90.
Gamuda Berhad is an investment holding and civil engineering construction company. Through its subsidiaries, the company provides earthwork construction, manufactures and supplies road surfacing materials, and operates quarry and road laying projects. Gamuda also has operation in hiring and rental of plant and machinery, develops properties, and manufactures and sells paper.
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Hubline (HUBL MK; RM0.335) – BUY
FY10P/E: N/A, P/BV: 0.9x
• Hubline broke out of the triangle resistance yesterday. As triangle is usually seen as a continuation pattern, expect further upswing towards the RM0.36-RM0.375 resistances.
• MACD is slowly gaining strength but its overbought RSI is a near-term setback. Expect volatility to rise amid this uptrend.
• Buy on weakness, especially near the RM0.325 support trend line. Cut losses however if it breaks below RM0.29 as it would signal the end of this uptrend.
Hubline Berhad is an investment holding company. The company, through its subsidiaries, is involved in investment holding, shipping services, shipping agent, ship owning and chartering and the provision of marine cargo handling services.
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Heveaboard (HAVE MK; RM0.355) – SELL
FY10P/E: N/A, P/BV: 0.1x
• The stock is now hanging over the cliff. If it fails to take out the RM0.365 resistance trend line, expects profit taking activities to accelerate and pushes it lower.
• Its MACD shows a bearish divergence, suggesting that buying momentum is slowing down. Meanwhile, RSI is overbought at 70.
• If the RM0.365 resistance stays firm over the next few days, traders may want to lock in some profits on upticks, as it would signal that the stock is likely near-term peaked. Support is at RM0.34 and RM0.30.
Heveaboard Sdn Bhd produces particle board from rubber wood for use in panel furniture, speaker boxes, and doors. The company exports its products throughout the Asia Pacific region. Heveaboard produces ready-to-assemble furniture, and retails particle board and medium density fiberboard.
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