Kenanga Research & Investment

Highlights / Stock Picks of the Day - MISC Berhad (MISC) – Not Rated

kiasutrader
Publish date: Tue, 23 Dec 2014, 09:34 AM
MISC recently caught investor’s attention after hinting a stronger dividend for FY14 following its remarkable gain from the recent sale of its 15.7% stake in NCB Holdings Bhd for RM222.0m. Technical-wise, MISC had recently broken out from its downtrend resistance level and above all its SMA trendline with high trading volume. MACD indicator is seen converging on its signal line to form a bullish divergence. Buying interest is also seen to be building up, indicated by the strong hook up in both Stochastic and RSI indicator. From here, we expect MISC to rally on follow-through buying momentum towards our ‘Triangle’ measurement objective of RM8.26.
 
 
Source: Kenanga
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