– UEM Land Holdings (ULHB MK; RM1.58, BUY) – Triangle support holds.
– AMMB Holdings (AMM MK; RM4.16, BUY) – Signs of improvement.
– KNM Group (KNMG MK; RM0.76, BUY) – Opportunity to buy, but a stop below RM0.70 is a must.
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UEM Land Holdings (ULHB MK; RM1.58) – BUY
FY09P/E: 65.8x, P/BV: 2.7x
• UEM Land’ share prices have corrected by as much as 16% from its recent peak of RM1.80. The pullback also saw its lower trend line being tested. Yesterday’s Doji formation would likely signal that buying momentum has picked up again.
• After recent consolidation, its technical landscape looks appealing. MACD is poised for a positive crossover while the RSI is hovering at the neutral zone.
• Risk takers may start to nibble now, as a break out above its key SMAs would lift the stock towards RM1.68 and RM1.80 next. Cut loss however if it falls below RM1.30.
UEM Land Holdings Bhd is a real estate investment and development company. The company's activities include property development and land sales. The Company develops a range of projects including industrial, commercial, residential, healthcare and mixed used properties, government offices, universities, and others.
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AMMB Holdings (AMM MK; RM4.16) – BUY
FY10P/E: 13.1x, P/BV: 1.4x
• AMMB is currently hovering near the support trend line. On the daily chart, it seems that buyers are ready to re-enter the market, especially when prices trend closer to the 30-day SMA.
• Technical indicators are showing signs of improvement. MACD histogram bars are slowly gaining strength while its RSI is moving towards the upper band of the neutral zone. Resistance is seen at RM4.38 and RM4.56.
• Buy on weakness, preferably near the 30-day SMA at RM4.00. Yet, the positive outlook on AMMB could be tarnish if the candlesticks fall below its 50-day SMA at RM3.76.
AMMB Holdings is an investment holding company. The company, through its subsidiaries, provides merchant and commercial banking, retail financing, stock and futures broking, and investment advisory. It also underwrites general insurance, provides asset and unit trust management, and nominees services.
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KNM Group (KNMG MK; RM0.76) – BUY
FY09P/E: 8.4x, P/BV: 1.7x
• Although it is still entrenched in a downtrend channel, it appears that the worst could have been over, at least for now. A successful retest of yesterday’s high of RM0.78 would likely indicate that KNM could swing towards RM0.82 and RM0.915 next.
• MACD is still negative but RSI has been neutralised. In fact, while candlesticks continue to drift south, its RSI has started to show improving signs.
• Traders may start to accumulate but a stop below RM0.70 is a must, as next downside target is at RM0.645 and RM0.60.
KNM Group is an investment holding company. Through its subsidiaries, it designs, manufactures, and maintains process equipment, pressure vessels, heat exchangers, skid mounted assemblies, process pipe systems, storage tanks, specialized structural assemblies and module assemblies for the oil, gas and petrochemical industries.
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