Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 18 Jun 2021, 10:01 AM


Daily technical highlights – (PTRANS, SAMAIDEN)

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Perak Transit Berhad (Trading Buy)

• PTRANS is principally involved in the operation of integrated public transport terminals (IPTTs), bus services and petrol stations. Its more recent venture into terminal management services (TMS) has provided the Group with a new avenue for growth.

• Over the last few months, the Group has announced the securing of two TMS contracts to manage Terminal Sentral Kuantan and Terminal Bas Shahab Perdana, both of which would bring in new steady recurring streams of revenue for the Group over periods of 10 years or more.

• With the possibility of a few more TMS contracts to come in FY21, this could support investor sentiment on the stock going forward.

• Looking ahead, consensus is expecting PTRANS to make a net profit of RM49.3m in FY21 and RM52.2m in FY22, which translates to undemanding forward PERs of 10.3x and 9.7x, respectively (below its 4-year historical average of 14x).

• Technically speaking, the share price has been in a range bound phase since August 2020, finding support near the lower range (of RM0.795) and the 100-day SMA.

• Bouncing off the lower boundary, PTRANS’ share price could challenge our resistance levels of RM0.885 (R1; 11% upside potential) and RM0.96 (R2; 20% upside potential).

• We have pegged our stop loss price at RM0.72 (10% downside risk).

Samaiden Group Berhad (Trading Buy)

• SAMAIDEN provides engineering, procurement, construction and commissioning (EPCC) solutions. The Group offers renewable energy and environmental consulting, waste management and maintenance services.

• The future looks bright for the Group as they are a potential beneficiary of the rolling out of the upcoming large scale solar (LSS) projects by the government.

• Technically speaking, the stock has been trending higher in an ascending channel since November 2020, with the share price hovering around the lower range as of late.

• Based on the key Fibonacci Retracement levels, of which the share price has found support on numerous occasions, the shares could reach new heights as it extends its uptrend pattern.

• Bouncing off its current support level, any further rise in the share price could challenge our resistance targets of RM1.91 (R1; 11% upside potential) and RM2.07 (R2; 20% upside potential).

• We have pegged our stop loss at RM1.55 (10% downside risk).

Source: Kenanga Research - 4 Mar 2021

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Related Stocks

Chart Stock Name Last Change Volume 
PTRANS 0.685 +0.005 (0.74%) 2,505,100 
SAMAIDEN 1.43 -0.04 (2.72%) 195,400 

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