|Contributor / Partner
Strategy published on : 07/31/2020 | 04:12
long tradeStop-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.
● 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
● 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.