HLBank Research Highlights

Author: HLInvest   |   Latest post: Fri, 27 Nov 2020, 11:01 AM


Construction and Building Mat - Recovering Technicals and Increasing Trading Interest

Author:   |    Publish date:

Last week, the Finance Ministry commented that a potential economic stimulus measure may be revealed (tentatively on 27th Feb) and the quantum will depend on the duration and impact of the Covid-19 outbreak. Although the stimulus measures could be targeting just the affected industries such as tourism, logistics and finance sector, we do not rule out that some of the mega projects (i.e. ECRL/ PTMP) may be expedited in 1H20. Also, soon after the comments by Finance Minister, construction (i.e. earthworks/pilling/consultant) and building material (steel and cement) segments have seen increasing trading interest. Should any announcement related to construction projects being revealed in the near term, it may trigger a broad base buying interest within the sector.

HSSEB: Price has been trending sideways over the past few months and our indicators are suggesting that the uptrend mode is intact again and may attract traders’ attention in the near term. Should the share price surge above RM0.84, next potential target is set around RM0.90-0.94, followed by a LT target at RM1.00. Support is set along RM0.81-0.82, stop loss is set around RM0.79.

MCEMENT: Share price has breached above the downward trendline in the middle of January. Indicator has turned positive since then and share price steadied above RM3.36. We believe follow-through buying interest could sustain towards RM4.06- 4.15, with a LT target set around RM4.46. Support is set around RM3.30-3.40, with a cut loss set around RM3.36.

MELEWAR: Price has experienced a channel breakout last week and the uptrend is intact at this juncture. Should the share price sustain above the RM0.31, buying support may extend, targeting the initial resistance along RM0.355-0.38, followed by a LT target of RM0.45. Support will be located around RM0.27-0.28, with a cut loss set around RM0.265.


Source: Hong Leong Investment Bank Research - 18 Feb 2020

Share this

Related Stocks

Chart Stock Name Last Change Volume 
HSSEB 0.48 0.00 (0.00%) 2,019,000 
MCEMENT 2.48 +0.03 (1.22%) 468,900 
MELEWAR 0.25 -0.01 (3.85%) 18,579,700 

  Be the first to like this.

I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Perform Technical & Fundamental Analysis on Stocks
MQ Affiliate
Earn rewards by referring your friends

516  569  598  781 

Top 10 Active Counters
 AT 0.200.00 
 KANGER 0.18-0.005 
 SAPNRG 0.1150.00 
 HIAPTEK 0.28+0.025 
 TDM 0.305+0.04 
 VIVOCOM 1.16+0.15 
 BINTAI 0.82+0.025 
 HIAPTEK-WB 0.065+0.02 
 PPHB 1.12+0.185 
 BIOHLDG 0.31-0.005 


1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!