SENDAI is back to the limelight as market digested the announcement of new infrastructure development projects in Budget 2014 could benefit the construction industry, according SENDAI chief as media reported. The stock has broke out above the downwards slopping triangle resistance to close at RM1.48 (+5 sen) yesterday. The stock overall assessed as technically positive supported by uptrend bias indicators such as MACD and RSI. A decisive breakout above RM1.48-RM1.50 should suggest a buy signal for the stock towards recent high @RM1.75. Meanwhile, the immediate underlying support is pegged at RM1.40 (Triangle support). Our fundamental call for SENDAI is MARKET PERFORM with target price @RM1.52. 

 

Source: Kenanga