KUALA LUMPUR (Aug 16): RHB Retail Research said DRB-Hicom Bhd may climb higher after posting a long white candle and hitting its new 52-week high.
In a trading stocks note today, the research house said this can be viewed as a continuation of the bulls extending the rebound from Aug 6’s “Piercing Line” pattern.
“A bullish bias may emerge above the RM2.60 level, with an exit set below the RM2.46 threshold.
Towards the upside, the immediate resistance is at RM2.80 level. This is followed by the RM3.00 level,” it said.
Q2 results shd be good for the following reasons. 1. Volume of Q2 abt 40% higher than last year and abt 9K units more than Q1 2019 if my memory serves me right 2. About RM 130 million POS Malaysia impairment in Q1 will not be repeated 3. Becoz more cars delivered POS will earn more delivery revenue 4. Bank Muamalat shd enjoy more vehicle financing since more cars sold. Moving forward will also be exciting.. 1. July as reported 4K of saga sold in 2 weeks. Dont forget there are still 5k order of X70 to be delivered in July and August based on monthly average of 3K per month. 2. Revision of tariffs for POS. POS collaboration with Chinese logistics company 3. Saga sales will continue to be stromg bcoz it is difficult foe Perodua to beat Proton bcoz it takes time to refit their MYVI BeZZa with the state of the art features and match the super cheap car prices of Saga. 4. X50 will be the killer.. So the only way for DRB this year is UP...
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Ncm88
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Posted by Ncm88 > 2019-08-15 18:38 | Report Abuse
Haha usa drop i happy cuz sure got chance add DRB lol