FY12P/E: N/A, P/BV: 0.6x
• Malton broke out of its triangle pattern yesterday on rising volume. We see this as a prelude to more upside ahead. As long as the candles hold on steady above RM0.76, its triangle support, we think it is only a matter of time before prices surpass the previous high of RM0.86.
• Technical landscape looks compelling. MACD is hovering in the positive territory while its RSI has also hooked upward. Once the RM0.86 level is taken out, the next upside targets are RM0.905 and RM0.98.
• Buy on weakness seems to be a good option here. Momentum should pick up when the 30-day SMA cut above the longer term 50-day SMA. On the downside, a fall below RM0.76 would trigger our stop.
Malton is an investment holding company. Through its subsidiaries, the company develops property, provides project and construction management, as well as consultancy services for property development industry.
No comments:
Post a Comment