Despite the subdued sentiment on the property market, investors still like MAHSING as it is one of the large cap developer laggards, which continued to focus on Klang Valley affordable housing market. Our in-house property analyst shares the same view, with an OUTPERFORM rating on the stock. Chart-wise, MAHSING has confirmed a breakout from the “Descending Triangle” chart pattern. We reckon that investors should pay attention to the stock, as this chart pattern can act as a powerful reversal signal. Short-term trend of MAHSING is bullish with the share price staying above all the short, mid and long term SMA. We expect followthrough buying to surface over the next few days, and eventually bringing the share to retest its previous high level of RM2.82.

 

Source: Kenanga