EVERGRN (5101; HLIB-HOLD- RM0.36 TP): Main market; Wood products

A proxy on a turnaround play and USD strength

Grossly oversold (a steep 48% discount to 10Y P/B) and poised for a bullish triangle breakout; A successful breakout above 0.33 could spur greater upside towards 0.355-0.375-0.40 territory;

✅Current price: RM0.315

✅Entry: RM0.30-0.31-0.315

✅Stop Loss: RM0.29

✅Resistance: RM0.355-0.375-0.40

✅Latest Price to book: 0.26x (-48% below 10Y avg 0.5x)

✅Risk profile: Low

Source: Hong Leong Investment Bank Research - 20 Nov 2023