Riding on the bullish sentiment of MKH, BREM and Jesselton Waterfront development story, SBCCORP is back to the traders’ radar. This comes amid of its super cheap valuation as we derived an RNAV of RM5.86 for the stock dated back in 20th June 2013. SBCCORP rose 6 sen to RM1.33 yesterday, on high trading volume. As a result of the bullish move, SBCCORP broke above the “Saucer Bottom” resistance level @RM1.30, offering a strong technical buy signal. The key indicators are also showing a pick up in momentum, hence we expect the buying interest would pick up, carrying the share price towards RM1.44 (“Saucer Bottom” measurement target) soon.

 

Source: Kenanga