Dow Jones: 25,015.55 pts (-730.05pts, -2.84%)
⬆ Resistance:  26900
⬇ Support:  24500

FBM KLCI: 1,488.14 pts (-1.06pts, -0.07%)
⬆ Resistance:  1550
⬇ Support:  1460

Crude Palm Oil: RM2,368 (-RM27, -1.13%)
⬆ Resistance:  2530
⬇ Support:  2310

Brent Oil: $41.02 (-$0.03, -0.07%)
⬆ Resistance:  44.9
⬇ Support:  38.7

Gold: $1,771.29 (+$2.62, +0.15%)
⬆ Resistance:  1820
⬇ Support:  1710

M+ Online Technical Focus - 29 Jun 20
Muda Holdings Bhd: Demand on the rise

Trading Catalyst
• Demand for corrugated packaging has been on the rise for packaging of essential products such as groceries, food & beverage, healthcare products and e-commerce transportation.
• One of the largest integrated paper mill and corrugated packagers in Malaysia.
• At RM1.53, Muda Holdings trades at PE of 11.4x which is below its historical one standard deviation average of 15.7x; implying potential upside in our view.
• Consistently rewarding shareholders with dividends over the past ten years.

Technical View

(i) MUDA (S: RM1.41, R: RM1.64-1.7, LT TP:RM1.82, CL:RM1.40)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online

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