UOB Kay Hian Research Articles
Traders' Corner - Tiong Nam Logistics Holdings (TNL MK)
UOBKayHian
Publish date: Tue, 01 Aug 2017, 11:59 AM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY with +10.2% potential return
- Last price: RM1.76
- Target price: RM1.86, RM1.94
- Support: RM1.70
- Stop-loss: RM1.69
BUY with a target price of RM1.94 and stop-loss at RM1.69. After correcting from the all-time high of RM1.87, TNL has established strong support at RM1.70 with share price having recovered gradually above the BBI line yesterday. Share price has since consolidated and yesterday’s closing put TNL in new territory, suggesting renewed buying interest, which in our view will establish a new up-leg. This is supported by the MACD and DMI, which are both in a bullish crossover currently.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 1 Aug 2017
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