BURSA MALAYSIA

BURSA
End-of-day quote. End-of-day quote  - 01/15
8.54MYR -0.70%

Bursa Malaysia : There is still some upside potential

Nicolas Aleksy
Contributor / Partner

Strategy published on : 07/31/2020 | 04:12

long trade
Stop-loss triggered

Entry price : 9.29MYR
Target : 12MYR
Stop-loss : 8.05MYR
Potential : 29.17%

Bursa Malaysia shares show a positive technical situation which suggests a continuation of the upward dynamic over the medium term.
Investors have an opportunity to buy the stock and target the MYR 12.

Strengths

● 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.

● Upward revisions of sales forecast reflect a renewed optimism among the analysts covering the stock.

● Over the past year, analysts have regularly revised upwards their sales forecast for the company.

● Over the last seven days, analysts have been revising upwards their EPS estimates for the company.

● For several months, analysts have been revising their EPS estimates roughly upwards.

● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.

● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 7.28 MYR


Weaknesses

● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.

● The group usually releases earnings worse than estimated.

● Based on current prices, the company has particularly high valuation levels.

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