Highlights / Stock Picks of the Day--------------kenanga technicals Melati Ehsan Holdings Bhd (MELATI) – Not Rated Leading turnkey contractor - MELATI reported a whopping 61% YoY jump in earnings during its 2Q14 result announcement on 29th-April. This has convinced investors on the potential and prospects of the stock which prompted the share price to rise 19 sen (+19.8%) to RM1.15 on Wednesday. From a technical perspective, MELATI has confirmed a “Bullish Pennant” chart pattern, hinting that the share is ready for a major upside movement. High trading volume coupled with the MACD-Signal line positive cross-over are suggesting that the stock is firmly biased to the upside. We suspect that buying interest would persist and extending gains over the next few days. Traders who look to buy into the stock could target to take profit at RM1.50, while placing a stop-loss at RM0.97. Outlook Bullish Key Resistance level RM1.28 (R1) RM1.37 (R2) RM1.44 (R3) Key Support level RM1.00 (S1) RM0.97 (S2) RM0.91 (S3) Strategy Not Rated Current Price RM1.15
About the stock: Name : Melati Ehsan Holdings Bhd Bursa Code : MELATI CAT Code : 5129 Market Cap : 137.6 52 Week High/Low : 1.16/0.55 3-m Avg. Daily Vol. : 57,561.3 Free Float (%) : 43.7% Beta vs. KLCI : N.A. Leading turnkey contractor - MELATI reported a whopping 61% YoY jump in earnings during its 2Q14 result announcement on 29th-April. This has convinced investors on the potential and prospects of the stock which prompted the share price to rise 19 sen (+19.8%) to RM1.15 on Wednesday. From a technical perspective, MELATI has confirmed a “Bullish Pennant” chart pattern, hinting that the share is ready for a major upside movement. High trading volume coupled with the MACD-Signal line positive cross-over are suggesting that the stock is firmly biased to the upside. We suspect that buying interest would persist and extending gains over the next few days. Traders who look to buy into the stock could target to take profit at RM1.50, while placing a stop-loss at RM0.97.
net profit improved more than 100% y-o-y, pretax profit margin from construction are high at 11.5% but close to zero for property development...hmmm.... to buy or not to buy?
RM 1 Billion tender submitted, anytime announce good news. Order book is in RM 3.2 Billion working now for 3 years. Current price still lower than IPO price 10%.
BUY CALL DEFINITELY, ANYTHING BELOW RM1.30 is a STEAL! SAPUUUUUUUUUUUUUUUU!
I think 1.50 shall be no problem in this few months time. it's because Profit from Bukit Bayu (Furthermore, balance lots sold to Kimlun Corporation Berhad already), Pandamaran (existing units all sold), Bukit Jalil (existing units all sold) seem haven't really show in Quarterly report yet.
Melati Ehsan Holdings (MEHB MK) Technical BUY with +19.2% potential return Last price : RM1.30 Target Price : RM1.46, RM1.55 Support : RM1.22 Stop-loss: RM1.19 BUY with a target price of RM1.55 with stop loss placed below RM1.19. MEHB’s share price has rebounded strongly from the low of RM1.13 and has been boosted by the golden crossover between the 10-day SMA and 21- day SMA which was formed 2 days ago. Given yesterday’s gap-up on the back of a higher trading volume of 0.65m shares (vs 20-day average of 0.2m), we expect upward continuation to follow the creation of a new upleg. This is consistent with an uptick in RSI and a bullish crossover in MACD, which suggests improving momentum may lend support to share price as it moves higher. A breakout above RM1.32 should ensure further upward trajectory as we peg our medium-term upside target at the 1.61x Fibonacci extension level of RM1.55.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
necro
4,726 posts
Posted by necro > 2013-04-25 11:38 | Report Abuse
?