|Contributor / Partner
Strategy published on : 05/20/2020 | 03:45
long tradeTarget price hit
Entry price : 15MYR
Target : 16.5MYR
Stop-loss : 14.2MYR
Potential : 10%
The technical support around 14.5 MYR emanating from daily closing prices could trigger a technical rebound for PETRONAS Gas shares.
Investors have an opportunity to buy the stock and target the MYR 16.5.
● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
● In a short-term perspective, the company has interesting fundamentals.
● The current area is a good opportunity for investors interested in buying the stock in a mid or long-term perspective. Indeed, the share is moving closer to its lower bound at MYR 14.58 MYR in weekly data.
● The close medium term support offers good timing for purchasing the stock.
● The group's activity appears highly profitable thanks to its outperforming net margins.
● Thanks to a sound financial situation, the firm has significant leeway for investment.
● Predictions on business development from analysts polled by Standard & Poor's are tight. This results from either a good visibility into core activities or accurate earnings releases.
● Historically, the company has been releasing figures that are above expectations.
● The company is one of the best yield companies with high dividend expectations.
● Over the last twelve months, the sales forecast has been frequently revised upwards.
● Based on current prices, the company has particularly high valuation levels.
● Below the resistance at 16 MYR, the stock shows a negative configuration when looking looking at the weekly chart.