CMSB

Sector: Construction material

Analyzed on 24/10/2021

Following up from our previous analysis, this week CMSB has successfully breakout from its recent high level of RM1.44 and reached a high of RM1.50. Although it closes the week lower at RM1.45, but it managed to form higher highs and higher lows pattern. EMA25 and EMA50 are now much clearer in terms of direction as both are heading upwards. Traders may take RM1.39 as support level.

One of the catalysts for CMSB could be due to the National Budget FY2022 that is around the corner.  CMSB has broad exposure to public development works within East Malaysia, hence it could benefit from project rollouts. CMSB is currently trading at a historical P/E ratio of 12.3 and below its book value of 0.53.  

Reason to monitor: May benefit from National Budget

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