MITRA garnered investors’ interest recently after it maintained its order book target of RM1.5b for 2015, despite the anticipation of a slowdown in the construction sector. MITRA surged by 5 sen or 5.0% post its consolidation phase to settle above all 3-SMA levels. Despite the overbought situation shown in the Stochastic indicator, we view that the uptrend remains intact, underpinned by the strong showing of all key indicators which are painting a rosy outlook ahead. Thus, we are placing a Trading Buy call on this stock, with expectation that the share price could continue to ride on the bullish buying momentum to retest its previous high level of RM1.17 (R3) in the near-term.

 

 

Source: Kenanga