Bursa Malaysia Daily Market Report - 27 March

Transcription

1. Monday , 27 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED REPORTS’ News 1. 2. 3. Daily Market Commentary Weekly Strategy Weekly Technical Outlook Fundamental Reports 1. 2. Malaysian Economy: Inflation Hits the Highest in 8 Years Sunway Construction Group Berhad: Secured RM186mn of New Jobs Technical Reports 1. Weekly Technical Stock Picks 2. Daily Money Flow Technical Stock Picks FBMKLCI Stocks Under Coverage PLANTATION Sector CONSTRUCTION Sector PROPERTY Sector 3. Weekly Ace Market Stock Watch 4. Weekly Small Cap Stock Watch 5. Weekly Stock Screen Foreign Technical Reports 1. Foreign Stock Watch (AUS) 2. Foreign Stock Watch (HK) 3. Foreign Stock Watch (FSSTI) 4. Foreign Stock Watch (US) Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
2. Daily Note Daily Market Commentary (A Participating Organisation of Bursa Malaysia Securities Bhd) Menara TA One, 22 Jalan P Ramlee, 50250 Kuala Lumpur Tel : 603 - 2072 1277. Fax : 603 - 2032 5048 Monday, 27 March 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (24.03.2017) Volume (mil) +/-chg (RMmn) Main Market 2,419.6 -839.5 2,326.3 Warrants 137.7 -72.5 19.0 ACE Market 1,115.6 -162.5 179.1 Bond 24.4 -6.7 2.7 ETF 0.1 0.05 0.1 Total 3,697.5 2,527.3 Off Market 30.9 -81.6 86.7 Value +/-chg -1063.3 -8.2 -65.7 -1.1 0.08 -85.1 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP March Futures Other Markets DOW JONES NASDAQ (US) FTSE (UK) NIKKEI (JAPAN) KOSPI (KOREA) HANG SENG (HK) FSSTI (S'PORE) SET (BANGKOK) JCI (JAKARTA) SHANGHAI SHENZHEN AUSTRALIA Review & Outlook Up Down 242 418 32 94 35 71 2 4 1 3 312 590 % chg % YTD chg Sector-wise, blue chips are expected to consolidate further to wean off overbought momentum, but any further dips on Malakoff and Westports Holdings, banks like CIMB and Maybank, and oil & gas and construction related lower liners such as Dialog Group, Wah Seong Corp., MRCB and UEM Sunrise should encouraged bargain hunters to return. -1.25 -15.25 -24.90 -2.00 -0.07 -0.12 -0.15 -0.11 6.34 7.84 15.18 7.09 20,596.72 5,828.74 7,336.82 19,262.53 2,168.95 24,358.27 3,142.90 1,573.51 5,567.13 3,269.45 2,046.74 5,753.55 -59.86 11.05 -3.89 177.22 -3.77 30.57 15.97 4.79 3.38 20.90 8.14 45.59 -0.29 0.19 -0.05 0.93 -0.17 0.13 0.51 0.31 0.06 0.64 0.40 0.80 4.22 8.28 2.72 0.78 7.03 10.72 9.10 1.98 5.11 5.34 3.94 1.55 Top 10 KLCI Movers Based on Mkt Cap. @ @ @ @ @ @ @ @ (RM) 0.80 2.11 2.65 9.00 1.50 0.60 1.08 0.34 Exchange Rate USD/MYR 4.4245 -0.0034 USD/JPY 111.03 0.0000 EUR/USD 1.080 0.0016 Counter While momentum indicators for the FBM KLCI are short-term bearish and point to further correction this week following last week's shallow profit-taking dip, trend indicators stayed in bullish mode, with robust buying momentum on lower liners, small caps and ACE Market stocks driving bullish sentiment on the broader market. Moreover, a good possibility for end first-quarter window-dressing action by late week should boost market sentiment and promote further upside momentum ahead. For the index, immediate upside hurdles are at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing matching last week's high, and 1,782, the 76.4%FR of the 1,867 to 1,503 correction, followed by 1,800 and the 18/5/15 high of 1,823. Immediate uptrend supports are at 1,739 and 1,720, representing the rising 10 and 30-day moving averages. 1,745.75 12,365.86 16,950.05 1,751.50 Off Market (mn) DBHD 10.7 SAMCHEM 5.0 IGB 4.9 MAYBANK 3.8 DANCO 2.0 FPGROUP 1.5 PUNCAK 1.3 GBGAQRS-WA 1.2 Value/ Volume 0.96 0.14 0.16 0.11 1.54 0.68 2.81 Mkt Cap. (RM’mn) MAYBANK 91,638 SIME 63,928 AXIATA 44,508 GENTING 36,008 IOICORP 29,302 KLK 26,070 TM 23,825 PETDAG 23,644 PPB 19,656 HLFG 18,438 Chg Vol. (RM) (mn) -0.01 9.62 -0.10 12.79 -0.04 6.58 -0.02 2.28 -0.03 3.31 -0.20 2.39 -0.01 8.32 -0.04 0.67 -0.02 0.68 -0.20 0.02 Commodities Futures Palm Oil (RM/mt) 2,755.00 -16.00 Crude Oil ($/Barrel) 48.14 0.47 Gold ($/tr.oz.) 1,243.30 -1.70 Important Dates News Bites • • • • • • • • • • • • • Malaysia's consumer prices hit 4.5% YoY in February 2017, the highest in 8 years, driven by a significant rise in transport index following higher retail pump prices as compared to last year, along with higher food prices. A new offer for Syarikat Pengeluar Air Sungai Selangor Sdn Bhd could be in the offing following a meeting between the federal government and Selangor state government last Friday. Tenaga Nasional Bhd's RM12bn joint venture power plant in Jimah, Port Dickson, also known as Project 3B, is on track to be ready by December 2019. Tenaga Nasional Bhd, in a move to enhance the management of its assets' exposure to natural disaster risk, will collaborate with the Malaysian Meteorological Department to conduct research and development in the fields of meteorology, climatology, and geophysics. GD Express Carrier Bhd proposed to undertake a bonus issue of up to 4.7bn new ordinary shares on the basis of 3 bonus shares for every 1 existing share. DRB-Hicom Bhd shared that all bidders to be a foreign strategic partner for Proton Holdings Bhd are still in the running and it is now evaluating these bids. The group aims to complete the process by the end 2Q17. Sunway Construction Group Bhd has secured RM186.3mn worth of construction contracts. Lay Hong Bhd is not ruling out the mergers and acquisitions route in expanding its business but feels it is in the group's best interest to focus on building its own expertise. Uzma Bhd is confident that its current order book of RM2.6bn gives it an earnings visibility of at least four years but warns that projects could be delayed if the price of crude oil dips to US$30 per barrel or below. New Hong Fatt Bhd is looking to open a factory in Indonesia after establishing a manufacturing subsidiary there last year. Brahim's Holdings Bhd's 51%-owned subsidiary Brahim's SATS Food Services Sdn Bhd has entered into two Cafeteria Operation Agreements with Universiti Kebangsaan Malaysia. China will substantially cut the number of sectors not open to foreign investment as it seeks fairer treatment for Chinese firms investing overseas, China's central bank governor Zhou Xiaochuan said. The seasonally adjusted Markit Flash U.S. Composite PMI Output Index registered 53.2 in March. IOIPG - 1:4 Rights Issue - RI of up to 1,109.9m shares. 1 rights share for every 4 existing shares held, at an issue price of RM1.38 per rights share. Application Closed: 17/03/2017. LISTING ON: 31/03/2017. DISCLAIMER The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD Kaladher Govindan, Head of Research
3. TA Securities Monday , March 27, 2017 FBMKLCI: 1,745.75 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Strategy Market View, News In Brief: Corporate, Economy, and Share Buybacks THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Kaladher Govindan Market View Tel: +603-2167 9609 kaladher@ta.com.my www.taonline.com.my Healthy Consolidation Could Continue Before Potential Window Dressing The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) came off a fresh 22month high early last week due to overbought technical momentum which encouraged profit-taking on blue chips, but strong retail interest on penny and ACE Market stocks helped lift trading volume to the second highest on record. However, the Wall Street correction sparked by overvaluation concerns forced a healthy pullback mid-week, but selective small cap penny and ACE Market stocks in the ICT and internet business staged sharp rallies on hopes they will be involved in the Digital Free Trade Zone (DFTZ). For the week, the FBM KLCI edged 0.55 points up to 1,745.75, with gains in Genting Malaysia (+10sen), Petronas Chemicals (+9sen), Maybank (+9sen) and Maxis (+7sen) offsetting losses on BAT (-74sen), KLK (-28sen) and PPB Group (-24sen). Average daily traded volume and value ballooned to 4.45 billion shares and RM3.05 billion, compared to the 3.88 billion shares and RM3.44 billion average the previous week, fueled by strong buying momentum on lower liners, small caps and ACE Market stocks which pushed daily volumes to near record highs. The impact of cost push inflation continued to be visible last Friday when the consumer price index for February was announced. The 4.5% year-on-year (YoY) growth in inflation was steeper than the consensus expectations of 3.9% YoY, no thanks to the rebound in fuel prices and the weaker ringgit that increased the cost of imports. The index of transport group showed a significant increase of 17.9% YoY mainly due to the fuel price increase, especially the RON95 petrol that has risen by 31.4 YoY to RM2.30/litre due to the recovery in crude oil prices and weak ringgit. Among the other highlights, the index for Food & Non-Alcoholic Beverages that accounted for 30.2% of the CPI weights also rose 4.3% during the month. These increases tie in with the Bank Negara’s expectations for a stronger-than-previously expected inflation in 2017. Last Thursday, the central bank raised its inflation expectations for the year to between 3% and 4% from 2% and 3% previously. As the eventuality will result in a negative real interest rate, investors are expecting Bank Negara to begin its tightening bias, at least once in the first half of 2017, which can be deemed necessary to cushion the impact of another rate hike in the US, potentially another 25 basis points in June, on the ringgit as well. As banks would be the biggest beneficiary due to expansion in their net interest margin, buying interest in these blue chips will underscore continued strength in the benchmark FBMKLCI, despite its stretched valuation vis-à-vis the regional markets and less robust corporate earnings growth, and sustain interest for a potential end first-quarter window dressing. Anticipation of the 14th General Election would cushion any profit taking pressures in the short-term, provided no serious destabilizing effects from the external factors. Page 1 of 7
4. TA Securities 27-Mar-17 A Member of the TA Group Major immediate term risks are the reaction of investors to Brexit trigger this Wednesday and the outcome of two rounds , unless anyone succeeds in securing more than 50% vote in the first round, of French elections this April and May. Marine Le Pen’s victory, if she beats Emmanuel Macron, the front runner for French president, is bad for the European Union and Euro. Should that happen, there will be a rush to safe havens and the strengthening of the US dollar would negatively affect emerging market. Page 2 of 7
5. TA Securities 27-Mar-17 A Member of the TA Group News In Brief Corporate A joint committee of ministers from Opec and non-Opec oil producers recommended extending by 6 months a global deal to reduce oil output , a draft press release from their meeting yesterday showed. (The Edge) Tenaga Nasional Bhd’s RM12bn joint venture power plant in Jimah, Port Dickson, also known as Project 3B, is on track to be ready by December 2019. The group shared that work on the Jimah East Power plant was going on smoothly and more than 40% completed since the plant's first concrete pouring in July 2016. (The Star) Tenaga Nasional Bhd, in a move to enhance the management of its assets' exposure to natural disaster risk, will collaborate with the Malaysian Meteorological Department to conduct research and development in the fields of meteorology, climatology, and geophysics. (Bernama) A new offer for Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) could be in the offing. The speculation of a new offer for Splash came about following a meeting between the federal government and Selangor state government last Friday. The shareholders of Splash are Gamuda Bhd (40%), Kumpulan Peransang Selangor (30%), and Sweetwater Alliance Sdn Bhd (30%), a company controlled by businessman Tan Sri Wan Azmi Wan Hamzah. (Bursa Malaysia) GD Express Carrier Bhd proposed to undertake a bonus issue of up to 4.7bn new ordinary shares on the basis of 3 bonus shares for every 1 existing share. Under a minimum scenario which assumes that none of the outstanding Warrants-B are exercised on or prior to the entitlement date, up to 4.2bn bonus shares will be issued. Conversely, under a maximum scenario which assumes that all of the outstanding Warrants-B are exercised on or prior to the entitlement date, up to 4.7bn bonus shares will be issued. (Bursa Malaysia) DRB-Hicom Bhd shared that all bidders to be a foreign strategic partner for Proton Holdings Bhd are still in the running and it is now evaluating these bids. The group aims to complete the process by the end of the second quarter of 2017. (The Star) Sunway Construction Group Bhd has secured RM186.3mn worth of construction contracts. This entails a contract for chilled water supply system and power generation system at Gas District Cooling Plant 1, Precinct 1, Putrajaya worth RM152.4mn, as well as contracts for bore piling works at Section B (Cheras to Ulu Kelang) of the Sungai Besi–Ulu Kelang expressway worth RM18.1mn and Section A (Puncak Perdana to Kota Damansara) of the Damansara–Shah Alam expressway worth RM15.8mn. (Bursa Malaysia) Integrated poultry producer Lay Hong Bhd is not ruling out the mergers and acquisitions route in expanding its business but feels it is in the group’s best interest to focus on building its own expertise. (The Edge) Oil and gas-related outfit Uzma Bhd is confident that its current order book of RM2.6bn gives it an earnings visibility of at least four years. However, the company, which provides services for both upstream and downstream players, warns that projects could be delayed if the price of crude oil dips to US$30 per barrel or below. (The Star) New Hong Fatt Bhd which exports auto replacement parts to over 50 countries is looking to open a factory in Indonesia after establishing a manufacturing subsidiary there last year. Its managing director, Chin Jit Sin, shared that the Indonesian factory may have a similar capacity as the group’s existing factory which stands on some 9 acres. (The Edge) Page 3 of 7
6. TA Securities 27-Mar-17 A Member of the TA Group Xin Hwa Holdings Bhd has proposed to acquire a 50 .01% equity interest in Yiwugou Ecommerce Sdn Bhd (YESB) for a total cash consideration of RM500,000. YESB is principally involved in e-commercial and e-business transactions conducted electronically on the internet. The proposed acquisition will provide the group a platform to diversify into the e-commerce industry as well as serve as an opportunity for the group to create to a new revenue stream in the future with the expansion of its scope of logistic services to include courier services, which would facilitate the door-to-door delivery services for the customers of YESB. (Bursa Malaysia) Superlon Holdings Bhd’s 3QFY17 earnings increased by 45.3% YoY to RM6.3mn on higher contributions from both the manufacturing and trading division. Revenue grew by 15.5% YoY to RM25.8mn. A special dividend of 6.0sen per share was declared and approved. (Bursa Malaysia) Astino Bhd’s 2QFY17 earnings surged by 74.7% YoY to RM12.1mn on the increase in demand from the overseas market as well as increase in profit margins. No dividends were declared for the quarter. (Bursa Malaysia) Brahim’s Holdings Bhd’s 51%-owned subsidiary Brahim’s SATS Food Services Sdn Bhd (BSFS) has entered into two Cafeteria Operation Agreements (COAs) with Universiti Kebangsaan Malaysia (UKM) for the purpose of leasing, renovation and upgrading of 5 cafeterias and provision of training and consultancy services for other cafeterias in the university. Under the COAs, BSFS will also supply meals, beverages, and refreshments to other cafeterias in the university. BSFS will pay to UKM profits based on a profit sharing scheme. (Bursa Malaysia) Page 4 of 7
7. TA Securities 27-Mar-17 A Member of the TA Group News In Brief Economy Asia Malaysian Inflation Surges to Highest in More than Eight Years Consumer prices in Malaysia rose at the fastest pace in more than eight years in February , adding to the central bank’s policy dilemma as it tries to keep interest rates low to support the economy. CPI rose 4.5% in February from a year ago, exceeding the median estimate of 3.9% in a Bloomberg survey of 23 economists and the highest forecast of 4.3%. Prices rose 1.3% from the previous month. Inflation has spiked in recent months due to higher fuel prices, adding pressure on the central bank to raise interest rates. Bank Negara Malaysia said inflation will probably average 3% to 4% this year, up from 2.1% in 2016, adding that 2017 will be another challenging one for monetary policy. The bank has left its benchmark rate unchanged at 3% since a surprise cut in July. Transport costs surged 17.9% in February from a year ago, after increasing 8.3% in the previous month. Food prices, which make up 30% of the CPI basket, rose 4.3% from a year ago. (Department of Statistics, Bloomberg) China to Open More to Foreign Investment as Others Do China will substantially cut the number of sectors not open to foreign investment as it seeks fairer treatment for Chinese firms investing overseas, China's central bank governor Zhou Xiaochuan said. Zhou Xioachuan, speaking during the Boao Forum for Asia, said that when China opens wider, "we want China to get fair treatment overseas". He added that Beijing was waiting on the new United States administration to see how to move forward on trade and investment negotiations. He also said monetary policy is not a panacea and governments should optimise the use of policy instruments to manage the economy. He added that great vigilance must be paid to global reflation, though he added that it is too early to tell if there is a trend of global reflation. (The Star) Japan Factory Growth Slows Slightly but Still at Good Clip-Flash PMI Japanese manufacturing activity expanded in March at a slightly slower pace than the previous month as growth in new orders and output slowed, a preliminary business survey showed. The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) fell to 52.6 in March on a seasonally adjusted basis, from a final 53.3 in the previous month. While it remained above the 50 threshold that separates contraction from expansion for the seventh consecutive month, the reading pointed to the slowest growth in three months. Although signaling a slower rate of expansion during March, the latest PMI data again point to a Japanese manufacturing economy expanding at a decent clip. The reading for output fell to 53.4 from a final 54.1 in February, but still showed expansion for the eighth consecutive month. A sub-index for new orders fell to 52.9 from a final 54.2 in February. New export orders eased to 52.7 from a final 54.3 in February. Input prices continued to rise but output prices fell marginally, suggesting pressure on profit margins. But companies surveyed continued to report solid job creation. Many Bank of Japan officials say they are more confident about prospects of economic recovery as exports and factory output benefit from improving global demand. But fears of U.S. protectionism are clouding the outlook for global trade, and Japanese consumer demand remains weak. (Reuters) U.S. Airplanes Boost U.S. Durable-Goods Orders U.S. factory demand was boosted by big-ticket aircraft purchases in February for the second straight month, while a measure of future business investment in new equipment was largely stable. The report offered the latest evidence that a surge in business and consumer confidence since Election Day hasn’t translated into stronger capital spending or overall economic growth, at least for now. Orders for durable goods—products designed to last at least three years, such as cars and refrigerators—increased 1.7% from the prior month to a seasonally adjusted $235.39 billion in February, the U.S. Commerce Department said. Economists surveyed by The Wall Street Journal had expected a 1.5% gain for overall orders last month. For January, headline orders were revised up to a 2.3% increase. Last month’s rise in orders reflected a 47.6% increase for civilian aircraft and parts, following an 83.3% gain in January for the volatile category. Excluding the transportation segment, Page 5 of 7
8. TA Securities 27-Mar-17 A Member of the TA Group orders rose a modest 0 .4% in February and 0.2% in January. (The Wall Street Journal) U.S. Private Sector Expands at Slowest Pace for Six Months in March The seasonally adjusted Markit Flash U.S. Composite PMI Output Index registered 53.2 in March, to remain above the 50.0 no-change value for the thirteenth consecutive month. However, the latest reading was down from 54.1 in February and signalled the slowest expansion of private sector output since September 2016. Softer business activity growth was driven by a loss of momentum in the service economy (‘flash’ index at 52.9, down from 53.8 in February). Manufacturing production also expanded at a weaker pace in March (‘flash’ output index: 54.4, down from 55.6). March data also revealed a slowdown in staff hiring by private sector companies. The latest rise in payroll numbers was only marginal and the weakest for six months. The composite index is based on original survey data from the Markit U.S. Services PMI and the Markit U.S. Manufacturing PMI. At 52.9 in March, the Markit Flash U.S. Services PMI Business Activity Index1 signalled only a moderate rate of growth across the service economy. The latest expansion of business activity was the weakest since last September, suggesting a sustained loss of momentum following the 14month peak recorded in January. (Markit Economics) Europe Eurozone Businesses Growing at Fastest Rate in Nearly Six Years –PMI Businesses across the euro zone marked the end of the first quarter by ramping up activity at the fastest pace in almost six years to meet burgeoning demand that came despite sharper price rises, a survey found. IHS Markit's Flash Composite Purchasing Managers' Index - seen as a good guide to growth - climbed to 56.7 from February's 56.0, its highest reading since April 2011. Anything above 50 indicates growth. It was above all forecasts in a poll and confounded median expectations for a fall to 55.8. That, coupled with a sub-index measuring prices charged which rose to a near six-year high of 53.3, will be welcomed by the European Central Bank which is still purchasing 80 billion euros a month of mostly government bonds to boost inflation. (Reuters) Germany's Composite PMI at 70-Month High Germany registered the fastest rate of private sector output growth in nearly six years at the end of the first quarter of 2017, flash survey results from IHS Markit showed. The composite output index rose for the second straight month in March, to 57.0 from 56.1 in February. This was the highest score since May 2011. A reading above 50 indicates expansion in the sector and the current sequence of continuous expansion now stretches to 47 months. The PMI data strongly suggest that economic growth will accelerate in the first quarter. The services Purchasing Managers' Index climbed more-than-expected to 55.6 in March from 54.4 in February. The services activity growth hit a 15-month high. The expected score was 54.5. The factory PMI climbed unexpectedly to 58.3 from 56.8 in February. The score was forecast to fall to 56.5. (RTT News) Page 6 of 7
9. TA Securities 27-Mar-17 A Member of the TA Group Share Buy-Back : 27 Mar 2017 Company AMPROP ANNJOO BKAWAN PWF SIGN SNTORIA UNIMECH Bought Back Price (RM) Hi/Lo (RM) 30,000 23,800 65,800 125,700 200,000 50,000 20,000 0.85 0.49/0.48 19.52/19.50 0.88/0.85 0.92/0.90 0.73 1.08 0.845/0.84 0.51/0.48 19.52/19.50 0.88/0.845 0.92/0.90 0.73/0.715 1.08/1.07 Total Treasury Shares 12,640,300 22,617,000 31,924,931 3,648,518 10,970,200 831,000 5,712,910 Source: Bursa Malaysia Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 7 of 7
10. T e c h n i c a l TA Securities V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Technical Outlook FBM KLCI: 1,745.75 (+0.55, +0.03%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist : Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my End 1Q Window-Dressing to Prop Up Market The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) came off a fresh 22month high early last week due to overbought technical momentum which encouraged profittaking on blue chips, but strong retail interest on penny and ACE Market stocks helped lift trading volume to the second highest on record. However, the Wall Street correction sparked by overvaluation concerns forced a healthy pullback mid-week, but selective small cap penny and ACE Market stocks in the ICT and internet business staged sharp rallies on hopes they will be involved in the Digital Free Trade Zone. For the week, the FBM KLCI edged 0.55 points up to 1,745.75, with gains in Genting Malaysia (+10sen), Petronas Chemicals (+9sen), Maybank (+9sen) and Maxis (+7sen) offsetting losses on BAT (-74sen), KLK (-28sen) and PPB Group (-24sen). Average daily traded volume and value ballooned to 4.45 billion shares and RM3.05 billion, compared to the 3.88 billion shares and RM3.44 billion average the previous week, fueled by strong buying momentum on lower liners, small caps and ACE Market stocks which pushed daily volumes to near record highs. The blue-chip benchmark index eased off a fresh 22-month high early Monday due to profittaking interest, but strong retail interest on penny and ACE Market stocks helped lift trading volume to the second highest on record. The KLCI climbed 4.21 points to settle at 1,749.41, off the opening low of 1,744.07 and high of 1,755.26, as gainers led losers 546 to 421 on very strong turnover totaling 6.02bn shares worth RM3.02bn. Stocks closed higher the following day helped by the stronger ringgit and higher oil prices, due to the weaker USD caused by the less hawkish tone from the US central bank on hiking interest rates, which encouraged gains on oil & gas related counters. The KLCI added 5.26 points to end at 1,754.67, off the high of 1,757.99 and low of 1,748.82, as gainers edged losers 496 to 477 on less robust turnover totaling 4.58bn shares worth RM3.28bn. The local stock market recovered from an earlier selloff Wednesday sparked by the overnight Wall Street correction due to overvaluation concerns, as local funds returned to bargain hunt while rotational plays on lower liners cushioned falls. The KLCI ended down 6.37 points at the day’s high of 1,748.3, off an earlier low of 1,738.4, as losers swarmed gainers 605 to 328 on much lower turnover of 3.16bn shares worth RM2.75bn. While blue chips closed weaker due to profit-taking interest the next day, small cap penny and ACE Market stocks were actively traded with selective counters staging sharp rallies on hopes they will benefit from the launch of the Digital Free Trade Zone. The KLCI ended 1.3 points down at the day’s low of 1,747, off an earlier high of 1,753.76, as gainers led losers 596 to 378 on robust trade totaling 4.78bn shares worth RM3.66bn. Blue chips continued trading sideways due to profit-taking consolidation, but active rotational plays stayed keen in ICT and internet related small cap stocks on speculation they may benefit from the DFTZ. The index eased 1.25 points to end Friday at 1,745.75, off an early high of 1,749.61 and low of 1,745.43, but losers overcame gainers 590 to 312 on reduced turnover totaling 3.7bn shares worth RM2.53bn. Page 1 of 3
11. TA Securities 27-Mar-17 A Member of the TA Group Trading range for the blue-chip benchmark index last week halved to 19 .59 points, compared to the previous week’s 38.18 points, as blue chips slipped into profit-taking sideways trade. For the week, the FBM-EMAS Index edged 24.52 points, or 0.2 percent higher to 12,365.86, while the FBM-Small Cap Index appreciated 101.59 points, or 0.6 percent to 16,950.05, as small cap stocks continued to outperform substantially on very active rotational trading plays. A short-term signal flashed on the daily slow stochastic indicator for the FBM KLCI (Chart 1), while the weekly indicator’s signal line stayed stubbornly in the overbought zone. The 14-day Relative Strength Index (RSI) indicator also triggered a sell after hooking down from the overbought zone, while the 14-week RSI leveled with an elevated reading of 69.62 as of last Friday. Chart 1 The daily Moving Average Convergence Divergence (MACD) trend indicator’s signal line lost some upside momentum after last week’s profit-taking consolidation, but the weekly MACD indicator continued on its bullish trajectory. The +DI and -DI lines on the 14-day Directional Movement Index (DMI) trend indicator also sustained their bullish expansion on a firming ADX line, reinforcing the uptrend mode. Chart 2 Page 2 of 3
12. TA Securities 27-Mar-17 A Member of the TA Group Conclusion While momentum indicators for the FBM KLCI are short-term bearish and point to further correction this week following last week ’s shallow profit-taking dip, trend indicators stayed in bullish mode, with robust buying momentum on lower liners, small caps and ACE Market stocks driving bullish sentiment on the broader market. Moreover, a good possibility for end first-quarter window-dressing action by late week should boost market sentiment and promote further upside momentum ahead. For the index, immediate upside hurdles are at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing matching last week’s high, and 1,782, the 76.4%FR of the 1,867 to 1,503 correction, followed by 1,800 and the 18/5/15 high of 1,823. Immediate uptrend supports are at 1,739 and 1,720, representing the rising 10 and 30-day moving averages. Sector-wise, blue chips are expected to consolidate further to wean off overbought momentum, but any further dips on Malakoff and Westports Holdings, banks like CIMB and Maybank, and oil & gas and construction related lower liners such as Dialog Group, Wah Seong Corp., MRCB and UEM Sunrise should encouraged bargain hunters to return. Chart 3 Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 3 of 3
13. TA Securities ECONOMIC REPORT Monday , March 27, 2017 FBMKLCI: 1,745.75 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Malaysian Economy Inflation Hits the Highest in 8 Years THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TA Research Team Coverage shazma@ta.com.my farid@ta.com.my Tel: +603-2167 9608 Key Summary: • Malaysia’s consumer prices hit 4.5% YoY in February 2017, the highest in 8 years. On a monthly basis, CPI was also high at 1.3% MoM as compared to 1.1% MoM previously. As expected, the increase was driven by a significant rise in transport index following higher retail pump prices as compared to last year, along with higher food prices. As compared to March last year, the average pump price was 77 sen higher. • We predict consumer prices to remain high in the first half of 2017, with March’s CPI rate to be at 5.1% YoY. Apart from the low base effect, cost push factors will continue to dominate, mainly from the transport cost category. • Starting on 29 March 2017, the Government will announce the benchmark of pump prices on a weekly basis. The formula used to calculate the price of fuel, which called the Automatic Pricing Mechanism (APM), is not directly related to the crude oil price as the refined product cost commonly used in this region refers to Means of Platt Singapore (MOPS) average price denominated in US dollars. That said, weaker Ringgit against the US dollar will translate to higher retail pump prices as well. With gradual increase in global oil price performance, we predict that this year’s retail pump price will be persistently higher than last year. • Hence, we are in the midst of reviewing our 2017 inflation forecast again. This is especially after the higher than expected February 2017 inflation and also the upward adjustments made for the sub-components of CPI. YTD17, CPI has averaged 3.9% YoY. Bank Negara Malaysia as in its latest Annual Report predicted that inflation to be at 3.0% to 4.0% level. There is a possibility of inflation rate going beyond 4.0% level, especially if global crude oil price rise above USD60 per barrel. • As such, we believe that there is a possibility that the central bank may increase its OPR this year, probably by 25 bps, making it to 3.25% by year-end. Supporting our view is improving economic growth especially due to better performance in the domestic activities and trade, challenged by higher inflation as well as volatile capital flows amid an on-going US Fed tightening cycle. The next MPC meeting is on 12 May 2017. Page 1 of 5 www.taonline.com.my d o m e s
14. TA Securities 27-Mar-17 A Member of the TA Group Key Findings : • Malaysia’s consumer prices accelerated further in February 2017, above consensus expectations. The headline inflation, as measured by the Consumer Price Index (CPI) surged 4.5% YoY in February 2017, faster than the 3.9% YoY consensus estimate and 3.2% YoY increase in January 2017. At that level, it was the highest since November 2008 when it hit 5.2%. On a monthly basis, CPI was also high at 1.3% MoM as compared to 1.1% MoM previously. Figure 1: CPI Performance (January 2008 – February 2017) YoY % 10.0% 8.0% Feb 17: 4.5% YoY Feb 16: 4.2% YoY Nov 2008: 5.2% YoY 6.0% 4.0% 2.0% 0.0% -2.0% Oct-16 Mar-16 Aug-15 Jan-15 Jun-14 Nov-13 Apr-13 Sep-12 Feb-12 Jul-11 Dec-10 May-10 Oct-09 Mar-09 Aug-08 Jan-08 -4.0% Sources: Department of Statistics, TA Securities • The strong inflation rate was mainly driven by a significant rise in transport costs and the other three sub-CPI baskets during the month, including Food & Non-alcoholic Beverages; Housing, Water, Electricity, Gas & Other Fuels; and Restaurant and Hotels. Only two groups (Clothing & Footwear; and Communication) recorded a decline; the rest recorded a moderate or same pace of growth increase. • Meanwhile, non-food cost jumped to 4.7% YoY in February 2017 from 2.9% YoY a month ago, largely because of an increase in fuel prices during the month. Moreover, core inflation came in at 2.5% YoY in February 2017, up from 2.3% in the previous month. • Below are the details: Prices of “Food & Non-alcoholic Beverages” accelerated for the fourth consecutive month to 4.3% YoY during the month. Food is the biggest sub-component in the CPI basket carrying about 30.2% of weightage. The increase was driven by food sub-group which encapsulated of Oils and Fats (+38.3% YoY); Vegetables (+9.5% YoY); Meats (+4.6% YoY); and Fruit (+3.4% YoY). Price of cooking oil was persistently high at 47.2% YoY following the rationalisation of the Cooking Oil Price Stabilisation Scheme (COSS) since November last year. Costlier food and non-alcoholic beverages was reflected in most states in Malaysia especially those in highly urbanised states such as Kuala Lumpur, Selangor, Putrajaya, Penang, Johor and Melaka. As for “Food Away From Home” index, it continued to rise in February to 4.1% YoY as compared with 3.6% YoY previously. - It was not a surprise that the “Transport” index showed a significant increase of 17.9% YoY in February 2017 due to the low base effect. Apart from that, the increase was due to higher retail pump price during the month. To recap, the average price of 1 litre of RON95 petrol was RM2.30 in February 2017 compared to RM1.75 in February 2016. As for RON97, the average price increased to RM2.60 in February 2017 from RM2.05 in February 2016. As a result, sub-component of “Fuels & lubricants for personal transport equipment” surged by double digit growth of 31.3% YoY (or 9.3% MoM) in February 2017. We could see a price pressure from this division as Diesel’s price increase by another 5 sen in March 2017. As compared to March last year, the average pump price was 77 sen higher. Page 2 of 5
15. TA Securities 27-Mar-17 A Member of the TA Group - Cost of “Housing, Water, Electricity, Gas & Other Fuels” also shown an increase in February 2017 as the index grew by 2.2% YoY as compared with January’s 1.9% YoY increase. The gain was mainly due to the higher cost housing rental. The details showed Actual Rental for Housing increased by 2.9% YoY in February as compared with 2.5% YoY in January 2017. Figure 2: CPI Sub-components for 6 Months YoY % Sub Components Wt. 2016 Consumer Price Index (CPI) 100.0 2.1% Food & Non-Alcoholic Beverages 30.2 3.9% Alcoholic Beverages & Tobacco 2.9 17.2% Clothing and Footwear 3.3 -0.4% Housing, Water, Electricity, Gas & Other Fuels 23.8 2.4% Furnishings, Household Equip. & Routine Household 3.8 2.4% Maintenance Health 1.7 2.7% Transport 13.7 -4.6% Communication 5.2 -1.6% Recreation Services & Culture 4.9 2.5% Education 1.1 2.2% Restaurants and Hotels 2.9 2.8% Miscellaneous Goods & Services 6.5 2.9% Sources: Department of Statistics, TA Securities Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 2M17 1.5% 3.0% 19.7% -0.6% 2.1% 1.4% 2.5% 19.8% -0.5% 2.1% 1.8% 3.8% 1.9% -0.5% 2.1% 1.8% 3.7% 0.1% -0.5% 2.1% 3.2% 4.0% 0.2% -0.7% 1.9% 4.5% 4.3% 0.2% -0.2% 2.2% 3.9% 4.2% 0.2% -0.5% 2.0% 1.3% 1.5% 1.4% 1.4% 1.5% 1.5% 1.5% 2.2% -5.5% -2.6% 3.4% 2.0% 2.2% 1.5% 2.3% -5.5% -2.6% 3.5% 2.0% 2.0% 1.5% 2.5% -1.5% -2.7% 3.2% 1.9% 1.9% 1.8% 2.4% -0.6% -2.6% 3.3% 1.7% 1.9% 1.8% 2.5% 8.3% -0.2% 3.2% 2.0% 2.1% 1.4% 2.4% 17.9% -0.3% 3.1% 1.7% 2.3% 1.4% 2.5% 13.0% -0.2% 3.1% 1.8% 2.2% 1.4% Inflation to Remain High in the First Half of 2017 • We predict consumer prices to remain in the first half of 2017, with March’s CPI rate to be at 5.1% YoY. Apart from the low base effect, cost push factors will continue to dominate, mainly from the transport cost category. Persistent high of retail pump price across categories than last year in tandem with gradual recovery in global oil price. Moreover, the formula used to calculate the price of fuel which called the Automatic Pricing Mechanism (APM) has not directly related to the crude oil price as the refined product cost commonly used in this region refers to Means of Platt Singapore (MOPS) average price denominated in US Dollars. That said, weaker Ringgit performance could give an impact to the higher retail pump prices. - Despite unchanged retail pump prices for RON 97 and RON 95 in March 2017 at RM2.60 per liter and RM2.30 respectively, it was still higher than March last year. The difference was 65 sen for RON 97; 70 sen for RON 95; and 85 sen higher for diesel. Under Transport sub-sector, fuel & lubricants contributes about 7.8% of total CPI basket. On average, the pump price of RON95 petrol was higher at RM2.23 per liter in 1Q17, significantly above the average price of RM1.76 per liter recorded in 2016. - Starting on 29 March 2017, the Government will announce the benchmark of pump prices on a weekly basis and fuel station operators will be allowed to give discounts on fuel, provided that prior permission is obtained from the ministry. With gradual increase in global oil price, we predict that this year’s retail pump price will be persistently higher than last year. Page 3 of 5 T t h e p
16. TA Securities 27-Mar-17 A Member of the TA Group Figure 3 : Monthly Retail Pump Price (January 2016 – March 2017) Ron97 (LHS) Ron95 (LHS) Diesel (LHS) Average Pump Price Jan-16 2.25 1.85 1.60 1.90 Feb-16 2.05 1.75 1.35 1.72 Mar-16 1.95 1.60 1.35 1.63 Apr-16 2.05 1.70 1.55 1.77 May-16 2.05 1.70 1.55 1.77 Jun-16 2.05 1.70 1.55 1.77 Jul-16 2.10 1.75 1.60 1.82 Aug-16 2.10 1.75 1.70 1.85 Sep-16 Oct-16 Nov-16 2.05 2.15 2.30 1.70 1.80 1.95 1.70 1.75 1.90 1.82 1.90 2.05 Dec-16 Jan-17 Feb-17 Mar-17 Sources: TA Securities 2.25 2.40 2.60 2.60 1.90 2.10 2.30 2.30 1.85 2.05 2.25 2.30 2.00 2.18 2.38 2.40 • We also opine that food prices to remain high in the coming months especially with the upward adjustments in retail cooking oil price and increase seen in global commodity prices. Changing Our 2017 Inflation Forecast • Last month, we have upgraded our 2017 inflation forecast to 2.7% YoY as compared to 2.4% YoY previously. But, after taking into consideration of significant pressure on Transport Cost Index and other cost push factors, we may revise up our inflation forecast again. This is especially after the higher than expected February 2017 inflation and also the upward adjustments made for the sub-components of CPI. • We are, nevertheless, in the same page with Bank Negara on inflation outlook – inflationary pressures are building up this year (2016: 2.1% YoY). Bank Negara Malaysia (BNM) in their latest Annual Report last week stated that inflation rate may be ranging between 3.0% and 4.0% in 2017. The forecast beats the Ministry of Finance’s target of 2.0% to 3.0% as announced during Budget 2017 last year. Trendwise, higher inflation is expected to be in the first half of 2017 before subsiding in the second half. Figure 4: Malaysia’s Annual Inflation Rate ( 2010 – 2017E) % YoY 4.5% 4.0% 4.0% 3.5% 3.0% 3.0% 2.5% 2.1% 2.0% 1.5% 2010 2011 2012 2013 2014 2015 2016 2017e Source: Bank Negara Malaysia, TA Securities BNM to Raise OPR This Year? • The latest BNM’s inflation projection range of 3.0% to 4.0% implies that real policy rate (OPR) will be negative, which could prompt a tightening bias in the monetary policy. In the last MPC meeting, Bank Negara held its policy rate steady at 3.00%. Page 4 of 5
17. TA Securities 27-Mar-17 A Member of the TA Group • As such, we believe that there is a possibility that the central bank may increase its OPR, probably by 25 bps, making it to 3.25% by year-end. Supporting our view is improving economic growth especially due to better performance in the domestic activities and trade, challenged by higher inflation as well as volatile capital flows amid an on-going US Fed tightening cycle. • BNM continued to pledge to focus on ensuring monetary conditions remain supportive of the sustainable growth of the domestic economy and price stability. Monetary policy will also continue to consider the risk of destabilizing financing imbalances, although these have largely remained contained. Given the expectation of periods of volatility in capital flows, BNM’s monetary operations will continue to ensure that domestic liquidity in the financial system will remain sufficient to support the orderly functioning of the domestic financial markets. • The next MPC meeting is on 12 May 2017. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD(14948-M) (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 5 of 5
18. TA Securities A Member of the TA Group MENARA TA ONE , 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Sunway Construction Group Berhad C O M P A N Y U P D A T E Monday, March 27, 2017 FBMKLCI: 1,745.75 Sector: Construction TP: RM1.90(+5.6%) Last traded: RM1.80 Secured RM186mn of New Jobs HOLD THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Ooi Beng Hooi Tel: 603-2167-9612 benghooi@ta.com.my SUNCON has secured 3 construction contracts. They are: i) Proposed Engineering, Procurement, Construction and Commissioning at Gas District Cooling Plant 1 at Precinct 1, Putrajaya, for a total contract sum of RM152.4mn. Sections 1 and 2 of the works start on 27 March 2017 and are to be completed by 26 December 2017 and 27 August 2018 respectively; ii) Bore piling works for Sungai Besi – Ulu Kelang Expressway (SUKE), Section B – Cheras to Ulu Kelang, Package CB1, for a total contract sum of RM18.1mn. The project shall commence on 15 May 2017 and is expected to be completed on 30 April 2018; and iii) Bore piling works for Damansara – Shah Alam Expressway (DASH), Section A – Puncak Perdana to Kota Damansara, Package CA1, for a total contract sum of RM15.8mn. The project shall commence on 23 March 2017 and is expected to be completed on 16 January 2018. We estimate that SUNCON has secured approximately RM900mn of new jobs YTD, versus our FY17 order book replenishment assumption of RM2.0bn, which is in line with management’s FY17 full-year target of RM2.0bn. With these job wins, the group’s outstanding order book improves to RM4.9bn, translating into 2.7x FY16 revenue. This would provide earnings visibility to the group for the next 2 to 3 years. Impact No change to our earnings forecasts as the job wins are within our FY17 order book replenishment assumption of RM2.0bn. Valuation No change to our target price of RM1.90, based on unchanged 15x CY17 earnings. Given the limited upside following the recent run-up in share price, we downgrade the stock from BUY to HOLD. Share Information Bloomberg Code Bursa Stock Code Listing Share Cap (mn) Market Cap (RMmn) Par Value 52-wk Hi/Lo (RM) 12-mth Avg Daily Vol ('000 shrs) Estimated Free Float (%) Beta Major Shareholders (%) SCGB MK SUNCON 5263 Main Market 1292.9 2327.2 0.20 1.81/1.42 2351.3 34.8 0.52 Sunholdings - 54.42 Sungei Way Corp Sdn Bhd - 10.06 Forecast Revision Forecast Revision (%) Net profit (RMm) Consensus TA's / Consensus (%) Previous Rating FY17 FY18 163.5 162.2 153.8 164.0 106.3 98.9 Buy (Downgraded) Financial Indicators Net Debt / Equity (%) CFPS (sen) Price / CFPS (x) ROA (%) NTA/Share (sen) Price/NTA (x) FY17 net cash 7.9 22.8 9.3 45.3 4.0 Share Performance (%) Price Change 1 mth 3 mth 6 mth 12 mth SCGB FBM KLCI 2.9 3.1 7.8 7.8 11.1 4.9 7.8 2.5 FY18 net cash 5.5 32.7 8.6 52.4 3.4 (12-Mth) Share Price relative to the FBM KLCI Source: Bloomberg Page 1 of 2 www.taonline.com.my
19. TA Securities 27-Mar-17 A Member of the TA Group Financial Statements Profit & Loss (RMmn) YE Dec 31 Revenue EBITDA Dep. & amortisation Net finance cost PBT Taxation MI Net profit Core net profit GDPS (sen) Div Yield (%) Cash Flow (RMmn) YE Dec 31 PBT Adjustments Changes in WC Operational cash flow Capex Others Investment cash flow Debt raised/(repaid) Dividend Others Financial cash flow Forex effect Desposit Net cash flow Beginning cash Ending cash 2015 2016 2017F 2018F 2019F 1,916.9 1,788.8 2,336.0 2,170.0 2,409.7 178.2 206.0 247.2 245.5 265.4 (41.9) (39.1) (42.1) (42.1) (40.5) 4.5 4.1 (1.6) (1.6) (3.4) 140.8 153.7 206.7 205.0 228.3 (13.0) (30.0) (43.4) (43.1) (47.9) 0.6 0.1 (0.2) (0.2) 0.0 127.1 123.5 163.5 162.2 180.4 127.1 123.5 163.5 162.2 180.4 4.0 5.0 5.5 5.5 6.0 2.2 2.8 3.1 3.1 3.3 2015 140.8 34.1 64.9 239.8 (38.7) (25.9) (64.5) 1.6 (70.0) 0.0 (68.4) 4.8 0.0 107.3 277.6 389.7 2016 153.7 (14.8) (59.0) (79.9) (19.0) 37.5 18.5 (0.3) (84.0) 0.0 (84.4) 2.1 0.0 74.0 389.7 465.8 2017F 206.7 40.5 12.9 260.1 (49.7) 8.3 (41.4) (3.5) (71.1) 0.0 (74.6) 0.0 0.0 102.3 511.5 613.8 2018F 205.0 40.5 (5.5) 240.0 (49.7) 8.3 (41.4) (15.0) (71.1) 0.0 (86.1) 0.0 0.0 71.1 613.8 684.9 2019F 228.3 37.1 7.9 273.3 (50.0) 8.3 (41.7) (70.0) (77.6) 0.0 (147.6) 0.0 1.0 39.5 684.9 724.4 Balance Sheet (RMmn) YE Dec 31 2015 Fixed assets 162.5 Others 17.7 NCA 180.2 Cash 390.5 Others 826.8 CA 1,217.2 2016 134.3 15.5 149.8 465.8 951.8 1,417.5 2017F 162.6 18.4 181.0 590.2 1,119.4 1,709.6 2018F 161.9 18.4 180.3 661.3 1,056.2 1,717.5 2019F 163.1 18.4 181.5 700.8 1,147.4 1,848.2 Total assets 1,397.4 1,567.3 1,890.6 1,897.8 2,029.7 136.8 804.8 941.7 451.0 0.6 0.0 4.1 136.5 936.2 1,072.7 493.2 0.8 0.0 0.6 133.3 1,166.5 1,299.9 586.3 0.3 0.0 4.1 118.3 1,097.9 1,216.2 677.3 0.1 0.0 4.1 48.3 1,197.0 1,245.4 780.1 0.1 0.0 4.1 1,397.4 1,567.3 1,890.6 1,897.8 2,029.7 ST borrowings Other liabilities CL Shareholders' funds MI LT borrowings Other LT liabilities Total capital Ratio YE Dec 31 EBITDA Margins (%) Core EPS (sen) EPS Growth (%) PER (x) GDPS (sen) Div Yield (%) Net cash (RMmn) Net gearing (%) ROE (%) ROA (%) NTA (sen) P/NTA(x) 2015 9.3 9.8 24.5 18.3 4.0 2.2 2016 11.5 9.6 (2.8) 18.8 5.0 2.8 2017F 10.6 12.6 32.4 14.2 5.5 3.1 2018F 11.3 12.5 (0.8) 14.4 5.5 3.1 2019F 11.0 13.9 11.2 12.9 6.0 3.3 253.6 329.3 456.9 542.9 652.4 net cash net cash net cash net cash net cash 30.6 26.2 30.3 25.7 24.7 9.3 8.3 9.3 8.6 9.2 34.6 37.9 45.3 52.4 60.3 5.2 4.8 4.0 3.4 3.0 Stock Recommendation Guideline BUY : HOLD : SELL : Not Rated: Total return within the next 12 months exceeds required rate of return by 5%-point. Total return within the next 12 months exceeds required rate of return by between 0-5%-point. Total return is lower than the required rate of return. The company is not under coverage. The report is for information only. Total Return is defined as expected share price appreciation plus gross dividend over the next 12 months. Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD(14948-M) (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
20. Monday , 27 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED LOCAL TECHNICAL REPORTS’ Local Technical Reports 1. Weekly Technical Stock Picks 2. Daily Money Flow 3. Technical Stock Picks a. FBMKLCI b. Stocks Under Coverage c. PLANTATION Sector d. CONSTRUCTION Sector e. PROPERTY Sector 4. Weekly Ace Market Stock Watch 5. Weekly Small Cap Stock Watch 6. Weekly Stock Screen Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
21. TA Securities T e c h n i c a l V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Technical Stock Picks Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my CIMB Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM5.62 5.83 5.40 4.97 BUY SIMPLE MOVING AVERAGES RM 5.55 RM 5.30 RM 5.14 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day MALAKOFF X Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI www.taonline.com.my RM1.18 1.22 1.18 1.15 SELL SIMPLE MOVING AVERAGES RM 1.18 RM 1.21 RM 1.25 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 1 of 8
22. MAYBANK Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM8 .99 9.05 8.81 8.58 BUY SIMPLE MOVING AVERAGES RM 8.90 RM 8.68 RM 8.50 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day WESTPORTS Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI RM4.02 4.08 3.95 3.83 SELL SIMPLE MOVING AVERAGES RM 3.93 RM 4.00 RM 4.09 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 8
23. DIALOG Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM1 .69 1.71 1.67 1.64 BUY SIMPLE MOVING AVERAGES RM 1.68 RM 1.65 RM 1.61 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day MRCB Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI RM1.62 1.67 1.52 1.37 10-day 30-day 50-day BUY Recent Signal Signal Change Page 3 of 8 SIMPLE MOVING AVERAGES RM 1.57 RM 1.50 RM 1.48 DAILY MACD BUY
24. UEM SUNRISE Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM1 .28 1.32 1.22 1.11 BUY SIMPLE MOVING AVERAGES RM 1.26 RM 1.20 RM 1.16 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day WAH SEONG CORP Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI 0.90 0.87 0.85 BUY RM0.88 SIMPLE MOVING AVERAGES RM 0.88 RM 0.88 RM 0.87 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 4 of 8
25. Name FBMKLCI AFFIN AFG AMBANK AXIATA CIMB DIGI GAMUDA GENTING GENM IHH IOICORP MALAKOFF MAXIS MAYBANK MBSB RHBBANK SIME TENAGA TM WPRTS AIRASIA AIRASIA X ARMADA BINAPURI CMSB DIALOG ECO WORLD GADANG HSL ISKANDAR KIMLUN KKBE MUDAJAYA MRCB NAIM SKPETRO SUNCON UEMS WASEONG WCT Close 24-Mar 1745 .75 2.89 4.08 4.88 4.96 5.62 5.14 5.29 9.67 5.57 6.00 4.66 1.18 6.40 8.99 1.23 5.30 9.40 13.72 6.34 4.02 2.85 0.40 0.75 0.45 4.30 1.69 1.52 1.27 1.69 2.59 2.20 1.25 0.99 1.62 1.53 1.87 1.80 1.28 0.88 1.86 Change (1.25) -0.01 0.01 -0.02 -0.04 0.02 0.00 0.04 -0.02 0.12 0.01 -0.03 0.01 0.03 -0.01 0.00 0.00 -0.10 0.00 -0.01 0.03 -0.03 0.00 0.00 0.01 0.00 -0.02 0.01 -0.01 0.00 -0.01 0.01 0.00 -0.03 -0.06 0.01 0.00 0.01 -0.02 -0.01 0.00 Bollinger Bands RSI Moving Averages DMI Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff 1,749.61 1,745.43 1,689.04 1,725.76 1,762.47 65.93 1,738.92 1,719.65 1,702.90 41.30 17.95 41.12 23.35 High 2.90 4.10 4.91 5.00 5.66 5.15 5.29 9.69 5.58 6.00 4.70 1.19 6.40 9.04 1.24 5.36 9.53 13.76 6.36 4.02 2.90 0.41 0.75 0.45 4.30 1.71 1.54 1.28 1.69 2.64 2.21 1.25 1.02 1.68 1.53 1.88 1.81 1.30 0.89 1.87 Low 2.87 4.07 4.87 4.92 5.61 5.11 5.20 9.64 5.46 5.95 4.66 1.17 6.33 8.98 1.21 5.29 9.37 13.66 6.31 3.97 2.81 0.40 0.74 0.45 4.28 1.69 1.50 1.26 1.68 2.57 2.19 1.25 0.99 1.62 1.52 1.84 1.77 1.27 0.88 1.85 2.53 3.83 4.66 4.35 4.97 4.99 4.82 8.95 5.11 5.83 4.62 1.15 6.29 8.58 1.10 4.89 8.92 13.53 6.14 3.83 2.60 0.39 0.69 0.43 4.12 1.64 1.46 1.08 1.66 0.74 2.09 1.21 0.78 1.37 1.49 1.77 1.68 1.11 0.85 1.82 2.80 4.01 4.86 4.76 5.40 5.09 5.04 9.47 5.38 5.95 4.70 1.18 6.38 8.81 1.18 5.17 9.18 13.68 6.29 3.95 2.79 0.40 0.73 0.45 4.22 1.67 1.51 1.22 1.70 2.06 2.22 1.26 0.91 1.52 1.54 1.90 1.74 1.22 0.87 1.86 3.07 4.19 5.07 5.16 5.83 5.19 5.27 9.99 5.64 6.07 4.78 1.22 6.46 9.05 1.25 5.44 9.45 13.83 6.45 4.08 2.99 0.41 0.76 0.47 4.33 1.71 1.55 1.36 1.74 3.38 2.34 1.30 1.03 1.67 1.58 2.04 1.79 1.32 0.90 1.91 75.59 59.12 59.79 57.93 71.24 61.54 77.33 65.74 61.56 47.85 48.97 40.55 55.13 68.38 67.14 63.54 64.02 54.29 58.16 52.40 56.59 43.25 59.69 50.44 60.37 60.32 53.85 63.63 49.10 79.61 50.63 45.33 63.93 64.01 43.52 49.52 65.88 67.21 52.05 49.46 2.88 4.07 4.88 4.90 5.55 5.14 5.12 9.70 5.46 5.97 4.69 1.18 6.39 8.90 1.20 5.26 9.28 13.73 6.36 3.93 2.87 0.40 0.73 0.45 4.23 1.68 1.51 1.28 1.70 2.67 2.19 1.25 0.94 1.57 1.53 1.86 1.75 1.26 0.88 1.85 2.70 3.98 4.77 4.78 5.30 5.08 5.01 9.25 5.30 6.03 4.68 1.21 6.39 8.68 1.17 5.13 9.17 13.63 6.25 4.00 2.76 0.40 0.73 0.45 4.21 1.65 1.51 1.18 1.70 1.76 2.20 1.29 0.91 1.50 1.58 1.90 1.74 1.20 0.88 1.88 2.60 3.91 4.67 4.79 5.14 5.04 4.97 8.88 5.12 6.14 4.62 1.25 6.27 8.50 1.14 5.06 9.01 13.67 6.18 4.09 2.67 0.40 0.69 0.45 4.17 1.61 1.47 1.13 1.68 1.41 2.17 1.30 0.89 1.48 1.60 1.83 1.73 1.16 0.87 1.86 31.01 25.48 26.41 30.59 39.27 19.63 29.88 31.10 27.67 17.56 21.50 14.41 15.38 29.52 25.50 25.01 30.42 12.59 21.67 17.31 25.00 20.64 26.05 23.95 23.78 29.44 24.62 29.20 21.50 41.06 22.34 20.60 41.13 37.78 20.27 18.94 22.29 31.54 25.82 13.49 10.52 11.81 17.06 22.95 11.63 19.91 11.82 7.39 11.68 20.84 15.44 19.93 20.48 14.32 10.49 13.98 17.09 21.42 10.84 23.54 16.29 11.39 18.19 14.55 11.53 9.87 13.14 11.40 23.82 15.15 20.54 29.39 13.07 5.37 24.01 29.17 8.85 10.09 17.01 24.82 51.75 35.40 34.56 22.12 42.88 13.40 22.54 64.12 44.00 16.82 20.26 22.25 16.25 36.35 37.45 26.33 21.63 21.03 27.04 47.91 23.06 20.18 20.15 23.79 19.67 44.06 33.22 47.36 12.51 58.60 20.62 16.66 30.94 48.08 23.73 26.03 26.77 44.82 18.48 21.16 20.48 13.67 9.36 7.64 27.64 (0.28) 18.06 23.71 15.99 (3.28) 6.06 (5.52) (5.10) 15.20 15.01 11.02 13.33 (8.83) 10.83 (6.23) 8.71 9.26 9.41 12.24 19.57 19.57 11.48 17.80 (2.32) 25.91 1.80 (8.78) 28.06 32.41 (3.74) (10.23) 13.44 21.45 8.82 (11.33) Line 13.83 0.09 0.06 0.07 0.07 0.15 0.03 0.08 0.26 0.12 -0.04 0.02 0.01 0.03 0.14 0.03 0.08 0.11 0.03 0.06 -0.03 0.06 0.00 0.02 0.00 0.03 0.02 0.01 0.05 0.00 0.41 0.00 -0.02 0.03 0.05 -0.02 0.01 0.01 0.04 0.00 0.00 MACD Signal Diff 12.60 1.231 0.10 0.05 0.08 0.04 0.14 0.03 0.05 0.28 0.12 -0.06 0.03 0.01 0.04 0.14 0.02 0.07 0.09 0.03 0.06 -0.05 0.07 0.00 0.01 0.00 0.02 0.02 0.01 0.05 0.01 0.39 0.01 -0.02 0.02 0.03 -0.02 0.02 0.01 0.03 0.00 0.00 (0.004) 0.001 (0.012) 0.038 0.009 0.001 0.026 (0.013) 0.004 0.020 (0.007) (0.003) (0.008) 0.003 0.004 0.010 0.014 0.004 (0.001) 0.021 (0.006) (0.001) 0.001 (0.000) 0.010 0.000 (0.003) (0.001) (0.003) 0.017 (0.006) 0.001 0.012 0.014 0.001 (0.010) 0.007 0.006 0.001 (0.002) DMI MACD DMI MACD Recent Signal Signal Change BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY SELL BUY SELL SELL BUY BUY BUY BUY SELL BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL SELL BUY BUY BUY SELL SELL BUY SELL BUY BUY BUY BUY SELL BUY BUY SELL SELL SELL BUY BUY BUY BUY BUY SELL BUY SELL SELL BUY SELL BUY BUY SELL SELL SELL BUY SELL BUY BUY BUY BUY SELL BUY BUY BUY SELL SELL - SELL SELL - The table above is a compilation of actively traded stocks with some popular technical indicators. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 5 of 8
26. LIST OF RECOMMENDED BUY STOCKS FROM NOV 2016 TO CURRENT Stock AIRASIA AIRASIA AIRASIA AIRASIA AIRASIA X * AIRASIA X* AIRASIA X* AIRASIA X* ALLIANCE AXIATA AXIATA AXIATA BINA PURI BINA PURI BINA PURI BINA PURI BUMI ARMADA BUMI ARMADA BUMI ARMADA BUMI ARMADA BUMI ARMADA CIMB CMSB CMSB CMSB DIALOG DIALOG DIALOG DIALOG ECO WORLD ECO WORLD ECO WORLD GADANG* GADANG* GADANG* GADANG* GADANG* GAMUDA GENM GENM GENTING GENTING HOCK SENG LEE HOCK SENG LEE HOCK SENG LEE HOCK SENG LEE IHH HEALTHCARE IHH HEALTHCARE IOI CORP ISKANDAR ISKANDAR ISKANDAR KIMLUN CORP KIMLUN CORP KIMLUN CORP KIMLUN CORP KKB ENGINEERING MALAKOFF MALAKOFF MALAKOFF MALAKOFF MALAKOFF MAYBANK MBSB MBSB MRCB MRCB MRCB MUDAJAYA MUDAJAYA MUDAJAYA MUDAJAYA NAIM NAIM NAIM RHBBANK SAPURAKENCANA SAPURAKENCANA SAPURAKENCANA SAPURAKENCANA SAPURAKENCANA SUNCON SUNCON SUNCON SUNCON SUNCON TENAGA TM TM TM UEM SUNRISE UEM SUNRISE UEM SUNRISE WAH SEONG WAH SEONG WCT HLGS WCT HLGS WCT HLGS WESTPORTS WESTPORTS WESTPORTS WESTPORTS REC Date 2-Nov 15-Dec 12-Jan 8-Mar 2-Nov 15-Dec 12-Jan 8-Mar 23-Nov 25-Nov 6-Dec 30-Dec 22-Dec 6-Jan 26-Jan 9-Mar 17-Nov 5-Jan 13-Jan 7-Feb 17-Mar 9-Dec 2-Dec 19-Jan 10-Mar 5-Jan 17-Feb 3-Mar 22-Mar 4-Jan 26-Jan 9-Mar 16-Nov 30-Nov 23-Dec 19-Jan 27-Jan 9-Dec 22-Nov 29-Dec 22-Nov 29-Dec 8-Dec 6-Jan 16-Feb 16-Mar 3-Nov 25-Jan 25-Nov 16-Dec 4-Jan 2-Feb 11-Nov 8-Dec 10-Feb 15-Mar 10-Feb 16-Nov 30-Nov 23-Dec 24-Jan 24-Mar 28-Dec 23-Nov 16-Dec 10-Nov 14-Dec 21-Mar 2-Dec 22-Dec 20-Jan 15-Mar 21-Dec 20-Jan 10-Mar 28-Dec 17-Nov 13-Jan 7-Feb 3-Mar 17-Mar 11-Nov 7-Dec 27-Jan 16-Feb 16-Mar 6-Dec 20-Dec 30-Dec 25-Jan 10-Nov 14-Dec 21-Mar 17-Feb 22-Mar 7-Dec 21-Dec 2-Feb 3-Nov 20-Dec 24-Jan 24-Mar BUY Price 2.84 2.52 2.38 2.75 0.44 0.38 0.39 0.40 3.63 4.31 4.28 4.57 0.42 0.45 0.43 0.44 0.64 0.66 0.63 0.63 0.73 4.64 3.77 4.12 4.19 1.54 1.60 1.68 1.71 1.36 1.41 1.55 1.09 0.95 1.00 1.06 1.07 4.82 4.68 4.57 7.95 7.97 1.62 1.66 1.72 1.70 6.36 6.42 4.38 0.82 0.83 0.90 2.19 2.08 2.18 2.20 1.37 1.43 1.37 1.40 1.30 1.17 7.75 0.93 0.91 1.29 1.37 1.52 0.77 0.94 0.87 0.90 1.50 1.61 1.53 4.64 1.44 1.70 1.85 1.95 1.88 1.67 1.62 1.72 1.72 1.72 14.02 5.95 6.06 6.13 1.03 1.10 1.26 0.93 0.90 1.77 1.78 1.83 4.43 4.30 4.18 3.99 24-Mar-17 Price 2.85 2.85 2.85 2.85 0.40 0.40 0.40 0.40 4.08 4.96 4.96 4.96 0.45 0.45 0.45 0.45 0.75 0.75 0.75 0.75 0.75 5.62 4.30 4.30 4.30 1.69 1.69 1.69 1.69 1.52 1.52 1.52 1.27 1.27 1.27 1.27 1.27 5.29 5.57 5.57 9.67 9.67 1.69 1.69 1.69 1.69 6.00 6.00 4.66 2.59 2.59 2.59 2.20 2.20 2.20 2.20 1.25 1.18 1.18 1.18 1.18 1.18 8.99 1.23 1.23 1.62 1.62 1.62 0.99 0.99 0.99 0.99 1.53 1.53 1.53 5.30 1.87 1.87 1.87 1.87 1.87 1.80 1.80 1.80 1.80 1.80 13.72 6.34 6.34 6.34 1.28 1.28 1.28 0.88 0.88 1.86 1.86 1.86 4.02 4.02 4.02 4.02 Change (+/-) 0.01 0.33 0.47 0.10 (0.05) 0.02 0.01 (0.01) 0.45 0.65 0.68 0.39 0.04 0.00 0.02 0.01 0.11 0.09 0.12 0.13 0.03 0.98 0.53 0.18 0.11 0.15 0.09 0.01 (0.02) 0.16 0.11 (0.03) 0.18 0.32 0.27 0.21 0.20 0.47 0.89 1.00 1.72 1.70 0.07 0.03 (0.03) (0.01) (0.36) (0.42) 0.28 1.77 1.77 1.69 0.01 0.12 0.02 0.00 (0.12) (0.25) (0.19) (0.22) (0.12) 0.01 1.24 0.30 0.32 0.33 0.25 0.10 0.22 0.05 0.12 0.09 0.03 (0.08) 0.00 0.66 0.43 0.17 0.02 (0.08) (0.01) 0.13 0.18 0.08 0.08 0.08 (0.30) 0.39 0.28 0.21 0.25 0.18 0.02 (0.05) (0.02) 0.09 0.08 0.03 (0.41) (0.28) (0.16) 0.03 ST % Upside Targets ** MT 3.30 3.30 3.30 3.30 0.50 0.50 0.50 0.50 4.68 5.48 5.48 5.48 0.53 0.53 0.53 0.53 0.81 0.81 0.81 0.81 0.81 6.00 4.92 4.92 4.92 1.88 1.88 1.88 1.88 1.75 1.75 1.75 1.48 1.48 1.48 1.48 1.48 5.74 6.10 6.10 10.38 10.38 1.88 1.88 1.88 1.88 6.44 6.44 5.04 3.20 3.20 3.20 2.54 2.54 2.54 2.54 1.51 1.33 1.33 1.33 1.33 1.33 9.60 1.48 1.48 1.80 1.80 1.80 1.17 1.17 1.17 1.17 1.88 1.88 1.88 5.69 2.27 2.27 2.27 2.27 2.27 2.13 2.13 2.13 2.13 2.13 14.36 6.80 6.80 6.80 1.52 1.52 1.52 1.04 1.04 2.19 2.19 2.19 4.30 4.30 4.30 4.30 3.10 3.10 3.10 3.10 0.44 0.44 0.44 0.44 4.37 5.16 5.16 5.16 0.49 0.49 0.49 0.49 0.76 0.76 0.76 0.76 0.76 5.84 4.58 4.58 4.58 1.78 1.78 1.78 1.78 1.64 1.64 1.64 1.35 1.35 1.35 1.35 1.35 5.36 5.82 5.82 9.83 9.83 1.81 1.81 1.81 1.81 6.23 6.23 4.90 2.93 2.93 2.93 2.40 2.40 2.40 2.40 1.41 1.26 1.26 1.26 1.26 1.26 9.20 1.33 1.33 1.69 1.69 1.69 1.09 1.09 1.09 1.09 1.68 1.68 1.68 5.50 2.08 2.08 2.08 2.08 2.08 2.00 2.00 2.00 2.00 2.00 14.02 6.56 6.56 6.56 1.37 1.37 1.37 0.95 0.95 1.98 1.98 1.98 4.07 4.07 4.07 4.07 0.35 13.10 19.75 3.64 (10.23) 3.95 2.60 (1.25) 12.40 15.08 15.89 8.53 8.43 0.00 4.65 2.27 17.19 13.64 19.05 20.00 3.45 21.12 14.06 4.37 2.63 9.74 5.62 0.60 (1.17) 11.76 7.80 (1.94) 16.51 33.68 27.00 19.81 18.69 9.75 19.02 21.88 21.64 21.33 4.32 1.81 (1.74) (0.59) (5.66) (6.54) 6.39 215.85 213.94 187.78 0.46 5.77 0.92 0.00 (8.76) (17.48) (13.87) (15.71) (9.23) 0.85 16.00 32.26 35.16 25.58 18.25 6.58 28.57 5.88 13.79 10.00 2.00 (4.97) 0.00 14.22 29.86 10.00 1.08 (4.10) (0.53) 7.78 11.11 4.65 4.65 4.65 (2.14) 6.55 4.62 3.43 24.27 16.36 1.59 (5.38) (2.22) 5.08 4.49 1.64 (9.26) (6.51) (3.83) 0.75 LT 3.60 3.60 3.60 3.60 0.55 0.55 0.55 0.55 4.87 5.80 5.80 5.80 0.57 0.57 0.57 0.57 0.88 0.88 0.88 0.88 0.88 6.19 5.33 5.33 5.33 1.96 1.96 1.96 1.96 1.88 1.88 1.88 1.56 1.56 1.56 1.56 1.56 5.97 6.39 6.39 10.72 10.72 1.94 1.94 1.94 1.94 6.60 6.60 5.36 3.47 3.47 3.47 2.68 2.68 2.68 2.68 1.60 1.42 1.42 1.42 1.42 1.42 9.86 1.60 1.60 1.88 1.88 1.88 1.28 1.28 1.28 1.28 2.04 2.04 2.04 5.85 2.50 2.50 2.50 2.50 2.50 2.22 2.22 2.22 2.22 2.22 14.90 7.03 7.03 7.03 1.60 1.60 1.60 1.14 1.14 2.32 2.32 2.32 4.50 4.50 4.50 4.50 ST 8.77 8.77 8.77 8.77 11.39 11.39 11.39 11.39 7.11 4.03 4.03 4.03 8.89 8.89 8.89 8.89 1.33 1.33 1.33 1.33 1.33 3.91 6.51 6.51 6.51 5.33 5.33 5.33 5.33 7.89 7.89 7.89 6.30 6.30 6.30 6.30 6.30 1.32 4.49 4.49 1.65 1.65 7.10 7.10 7.10 7.10 3.83 3.83 5.15 13.13 13.13 13.13 9.09 9.09 9.09 9.09 12.80 6.78 6.78 6.78 6.78 6.78 2.34 8.13 8.13 4.32 4.32 4.32 10.10 10.10 10.10 10.10 9.80 9.80 9.80 3.77 11.23 11.23 11.23 11.23 11.23 11.11 11.11 11.11 11.11 11.11 2.19 3.47 3.47 3.47 7.03 7.03 7.03 7.95 7.95 6.45 6.45 6.45 1.24 1.24 1.24 1.24 % Upside MT 15.79 15.79 15.79 15.79 26.58 26.58 26.58 26.58 14.71 10.48 10.48 10.48 17.78 17.78 17.78 17.78 8.00 8.00 8.00 8.00 8.00 6.76 14.42 14.42 14.42 11.24 11.24 11.24 11.24 15.13 15.13 15.13 16.54 16.54 16.54 16.54 16.54 8.51 9.52 9.52 7.34 7.34 11.24 11.24 11.24 11.24 7.33 7.33 8.15 23.55 23.55 23.55 15.45 15.45 15.45 15.45 20.80 12.71 12.71 12.71 12.71 12.71 6.79 20.33 20.33 11.11 11.11 11.11 18.18 18.18 18.18 18.18 22.88 22.88 22.88 7.36 21.39 21.39 21.39 21.39 21.39 18.33 18.33 18.33 18.33 18.33 4.66 7.26 7.26 7.26 18.75 18.75 18.75 18.18 18.18 17.74 17.74 17.74 6.97 6.97 6.97 6.97 LT 26.32 26.32 26.32 26.32 39.24 39.24 39.24 39.24 19.36 16.94 16.94 16.94 26.67 26.67 26.67 26.67 17.33 17.33 17.33 17.33 17.33 10.14 23.95 23.95 23.95 15.98 15.98 15.98 15.98 23.68 23.68 23.68 22.83 22.83 22.83 22.83 22.83 12.85 14.72 14.72 10.86 10.86 14.79 14.79 14.79 14.79 10.00 10.00 15.02 33.98 33.98 33.98 21.82 21.82 21.82 21.82 28.00 20.34 20.34 20.34 20.34 20.34 9.68 30.08 30.08 16.05 16.05 16.05 29.29 29.29 29.29 29.29 33.33 33.33 33.33 10.38 33.69 33.69 33.69 33.69 33.69 23.33 23.33 23.33 23.33 23.33 8.60 10.88 10.88 10.88 25.00 25.00 25.00 29.55 29.55 24.73 24.73 24.73 11.94 11.94 11.94 11.94 GADANG* - Share price adjusted for 1:4 Bonus Issue Total funds invested * Total unrealised profit/(loss) Return 243,180 21,920 9.01% Upside Targets ** ST = Short Term (one month) MT = Medium Term (three months) LT = Long Term (above six months) * The portfolio assumes each position consists of 1,000 shares and no deductions for any charges, fees and commision ** Upside Targets are derived from the subsequent Fibonacci Projection levels The above table is a performance summary of our BUY recommendations from November 2016 to current (sorted by name) together with upside targets, which are taken from subsequent Fibonacci Projection targets which may be achieved in one month (ST), three months (MT) and above six months (LT) from recommendation date. Interpretation: Investors should aim to liquidate trading positions when the percentage upside on the last three columns falls to 5% or below (shaded column). A negative percentage value indicates the upside target for the particular time-frame has been breached. Any revision in upside targets will be highlighted in bold. Page 6 of 8
27. Daily Money Flow of Technical Stock Picks Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Name Tel: +603-2167 9607 Total Money Flow (RM'mn) stsoo@ta.com.my (A) Total 5D MF Prv. Chg (B) Cur. Chg www.taonline.com.my CLOSING PRICE 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar Chg (A+B) DMF 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar FBMKLCI (12.5) (23.8) (43.0) (13.9) 25.7 (67.5) 29.1 39.6 1,749 1,755 1,748 1,747 1,746 (1.25) IN AFFIN ALLIANCE AMBANK AXIATA CIMB DIGI GAMUDA GENTING GENM IHH IOICORP MALAKOFF MAXIS MAYBANK MBSB RHBBANK SIME TENAGA TM WPRTS AIRASIA AIRASIA X ARMADA BINAPURI CAHYA MATA DIALOG ECO GADANG HSL ISKANDAR KIMLUN KKB MUDAJAYA MRCB NAIM IJM SCGB UEMS WASEONG WCTHG (0.6) 0.0 (0.1) 2.8 11.7 (4.6) 0.1 0.2 (3.8) (0.6) (1.6) (1.1) (0.3) 2.3 (0.5) 0.2 (0.2) (3.0) (4.0) (2.1) (0.5) (0.2) (0.3) 0.0 0.0 (0.2) 0.3 0.1 0.0 (0.6) 0.0 (0.0) 0.0 0.0 0.1 (0.3) 0.1 (0.1) (0.1) (0.1) (0.1) (0.0) (0.2) 2.8 0.8 (2.6) 0.9 0.5 (0.4) (0.6) (1.1) (0.2) (1.4) (4.1) 0.1 (0.2) (0.2) (6.7) (0.2) (2.5) 0.1 (0.2) (0.1) (0.0) 0.1 (1.0) 0.0 (0.2) (0.0) (0.1) (0.0) (0.0) 0.1 1.0 0.0 (0.2) 0.1 1.0 (0.0) 0.3 (0.0) (0.1) (0.2) 1.7 (3.8) 0.4 0.9 (0.9) 38.5 2.4 (0.5) 0.1 (0.2) (0.8) (0.8) 0.2 1.7 (3.3) (0.6) 0.9 (0.7) (0.3) (0.4) (0.0) (0.5) (0.6) (0.7) (0.2) (0.0) (0.1) 0.1 0.0 0.0 0.2 (0.0) (0.5) 0.1 0.0 (0.0) 0.1 (0.0) 0.1 0.1 (1.8) 1.4 (0.9) 3.1 (1.9) 18.6 2.9 0.2 (1.1) (4.0) (3.6) (0.5) 0.1 (1.4) 2.9 (4.0) (0.2) (0.1) (0.3) 0.3 (0.0) (0.1) (0.3) 0.4 (0.2) (0.0) (0.2) (0.0) 0.0 (0.0) (0.9) 0.1 0.2 0.5 (0.5) (0.0) (0.2) (0.1) (0.1) 0.4 1.7 0.6 0.3 (2.9) (1.1) (3.2) 0.2 2.4 (0.3) 1.1 11.3 (0.0) (0.5) 3.7 38.0 (2.7) (0.1) (0.3) (0.1) (0.0) (0.0) (0.0) (0.4) 0.2 (0.2) 0.0 (0.0) 0.0 0.0 (0.0) (0.5) 0.0 1.1 0.1 0.1 (0.0) 0.0 (0.9) (0.1) (0.1) 7.2 10.6 (7.4) 2.2 (3.1) 49.7 4.3 (0.5) (2.7) (4.8) 5.1 (1.7) (0.1) 3.7 28.0 (11.4) (4.0) (1.5) (1.1) (0.5) (0.1) (0.6) (2.4) 0.2 (0.7) (0.0) (1.0) 0.1 (0.0) 0.1 (0.2) 0.1 0.3 0.9 0.4 (0.1) 0.1 (0.0) 0.1 0.3 (3.4) 5.2 (1.2) 2.2 (1.0) (19.9) 0.5 0.7 (1.2) (3.8) (2.8) 0.2 (0.0) (3.2) 6.1 (3.4) (1.1) 0.6 0.0 0.7 0.0 0.4 0.3 1.1 0.0 (0.0) (0.0) (0.1) 0.0 (0.1) (1.1) 0.1 0.7 0.3 (0.5) 0.0 (0.2) (0.0) (0.2) 0.2 3.4 (0.8) 1.1 (6.0) 0.8 (21.8) (2.7) 2.2 0.8 5.1 14.9 0.5 (0.7) 5.2 35.2 1.3 0.1 (0.2) 0.2 (0.4) (0.0) 0.1 (0.1) (0.2) 0.0 0.1 0.2 0.0 (0.0) 0.0 0.4 (0.0) 0.9 (0.4) 0.5 0.0 0.2 2.89 4.13 4.94 5.08 5.65 5.12 5.14 9.83 5.54 6.03 4.68 1.17 6.36 8.90 1.24 5.30 9.30 13.72 6.40 4.38 2.87 0.41 0.73 0.46 4.20 1.67 1.55 1.28 1.71 2.71 2.20 1.26 0.93 1.52 1.54 3.45 1.75 1.26 0.88 1.88 2.89 4.12 4.90 5.07 5.65 5.13 5.12 9.80 5.68 5.99 4.70 1.17 6.38 9.00 1.24 5.29 9.30 13.78 6.42 4.38 2.83 0.40 0.75 0.46 4.32 1.71 1.51 1.27 1.70 2.62 2.20 1.25 0.97 1.64 1.53 3.48 1.75 1.30 0.90 1.86 2.90 4.09 4.90 5.06 5.60 5.13 5.15 9.75 5.50 6.00 4.77 1.17 6.43 8.94 1.24 5.38 9.26 13.72 6.36 4.38 2.81 0.40 0.76 0.45 4.32 1.70 1.50 1.25 1.70 2.60 2.19 1.24 1.02 1.62 1.53 3.52 1.76 1.29 0.89 1.83 2.90 4.07 4.90 5.00 5.60 5.14 5.25 9.69 5.45 5.99 4.69 1.17 6.37 9.00 1.23 5.30 9.50 13.72 6.35 4.38 2.88 0.40 0.75 0.45 4.30 1.71 1.51 1.28 1.69 2.60 2.19 1.25 1.02 1.68 1.52 3.50 1.79 1.30 0.89 1.86 2.89 4.08 4.88 4.96 5.62 5.14 5.29 9.67 5.57 6.00 4.66 1.18 6.40 8.99 1.23 5.30 9.40 13.72 6.34 4.38 2.85 0.40 0.75 0.45 4.30 1.69 1.52 1.27 1.69 2.59 2.20 1.25 0.99 1.62 1.53 3.50 1.80 1.28 0.88 1.86 (0.01) 0.01 (0.02) (0.04) 0.02 0.00 0.04 (0.02) 0.12 0.01 (0.03) 0.01 0.03 (0.01) 0.00 0.00 (0.10) 0.00 (0.01) 0.00 (0.03) 0.00 0.00 0.01 0.00 (0.02) 0.01 (0.01) 0.00 (0.01) 0.01 0.00 (0.03) (0.06) 0.01 0.00 0.01 (0.02) (0.01) 0.00 OUT OUT IN OUT IN OUT OUT OUT OUT OUT IN OUT IN IN IN OUT IN IN OUT OUT IN IN IN OUT IN IN IN IN IN IN OUT OUT OUT OUT IN IN OUT IN IN OUT Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Page 7 of 8
28. Daily Money Flow of FBMKLCI Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Name FBMKLCI AMBANK ASTRO AXIATA BAT CIMB DIGI WPRTS GENTING GENM HLBANK HLFG IHH IOICORP KLK MAYBANK MAXIS MISC PCHEM PETDAG PETGAS PPB PBBANK RHBBANK IJM SIME TM TENAGA KLCC HAP YTLCORP 20-Mar (12.5) (0.1) 0.0 2.8 (0.1) 11.7 (4.6) (2.1) 0.2 (3.8) (5.9) 0.0 (0.6) (1.6) 0.5 2.3 (0.3) (0.2) 0.6 (0.1) (0.1) 0.0 (1.4) 0.2 (0.3) (0.2) (4.0) (3.0) 0.0 (0.2) (2.5) Tel: +603-2167 9607 Total Money Flow (RM'mn) 21-Mar 22-Mar 23-Mar (23.8) (43.0) (13.9) (0.2) (0.2) 0.1 (0.2) 0.1 (0.0) 2.8 1.7 (1.8) 5.1 1.3 (2.8) 0.8 (3.8) 1.4 (2.6) (2.5) 0.5 (0.4) 0.1 0.0 (0.6) (1.1) (4.9) (4.1) (1.4) (0.5) (7.2) (0.1) (2.6) (0.4) 2.4 (0.2) (0.2) (0.2) (0.2) (6.7) (0.4) 0.0 1.3 0.4 0.9 (0.9) 38.5 0.1 (0.1) 2.4 (0.5) 3.4 (0.8) (0.2) 0.5 (0.6) 1.3 0.4 (0.1) 2.0 0.2 (0.5) 1.7 (0.6) (3.3) (0.1) 0.1 (0.3) (0.9) (0.2) (1.9) 18.6 1.4 0.1 2.9 0.2 (1.1) (3.6) (4.0) (0.2) (0.2) (0.4) 0.8 (0.1) (19.4) 0.1 0.2 (1.4) (4.0) 2.9 0.2 (0.4) (0.6) 24-Mar 25.7 0.4 (0.0) 1.7 (1.9) 0.6 0.3 (0.1) (1.1) (3.2) 0.0 (0.0) 0.2 2.4 (25.0) 11.3 1.1 (0.0) 0.3 (1.5) (1.6) (3.3) 5.0 (0.5) 1.1 3.7 (2.7) 38.0 (0.0) (0.0) 0.7 stsoo@ta.com.my Total 5D MF (67.5) (0.1) (0.2) 7.2 1.6 10.6 (7.4) (4.0) (3.1) 49.7 (4.3) 0.0 4.3 (0.5) (27.0) 5.1 (4.8) (0.4) (7.2) (0.7) (3.1) (3.8) (11.5) (0.1) 0.3 3.7 (11.4) 28.0 (0.3) (0.4) (1.4) (A) Prv. Chg 29.1 0.3 (0.1) (3.4) (4.1) 5.2 (1.2) (1.1) (1.0) (19.9) 1.3 0.2 0.5 0.7 (4.4) (2.8) (3.8) (0.7) 0.4 (1.7) 0.3 0.0 (21.3) (0.0) 0.7 (3.2) (3.4) 6.1 0.3 (0.5) (0.2) (B) Cur. Chg 39.6 0.2 0.0 3.4 0.9 (0.8) 1.1 0.1 0.8 (21.8) (1.4) (0.2) (2.7) 2.2 (24.0) 14.9 5.1 0.2 0.5 (1.1) (2.3) (3.2) 24.3 (0.7) 0.9 5.2 1.3 35.2 (0.2) 0.3 1.2 20-Mar 1,749 4.94 2.87 5.08 47.70 5.65 21-Mar 1,755 4.90 2.86 5.07 47.70 5.65 5.12 3.89 9.83 5.54 13.74 16.20 6.03 4.68 24.80 8.90 6.36 7.42 7.45 23.70 19.88 16.74 20.14 5.30 3.45 9.30 6.40 13.72 8.03 9.05 1.48 5.13 4.00 9.80 5.68 13.74 16.22 5.99 4.70 24.82 9.00 6.38 7.44 7.58 23.70 19.96 16.74 20.08 5.29 3.48 9.30 6.42 13.78 8.00 9.11 1.48 www.taonline.com.my CLOSING PRICE 22-Mar 23-Mar 1,748 1,747 4.90 4.90 2.85 2.84 5.06 5.00 47.70 47.20 5.60 5.60 5.13 4.00 9.75 5.50 13.74 16.08 6.00 4.77 24.80 8.94 6.43 7.45 7.48 23.60 19.98 16.58 19.96 5.38 3.52 9.26 6.36 13.72 8.03 9.15 1.49 5.14 3.99 9.69 5.45 13.56 16.30 5.99 4.69 24.68 9.00 6.37 7.34 7.51 23.84 19.72 16.60 19.96 5.30 3.50 9.50 6.35 13.72 8.00 8.98 1.51 24-Mar 1,746 4.88 2.86 4.96 47.16 5.62 5.14 4.02 9.67 5.57 13.56 16.10 6.00 4.66 24.48 8.99 6.40 7.34 7.52 23.80 19.72 16.58 19.96 5.30 3.50 9.40 6.34 13.72 7.99 8.98 1.50 Chg (1.25) (0.02) 0.02 (0.04) (0.04) 0.02 0.00 0.03 (0.02) 0.12 0.00 (0.20) 0.01 (0.03) (0.20) (0.01) 0.03 0.00 0.01 (0.04) 0.00 (0.02) 0.00 0.00 0.00 (0.10) (0.01) 0.00 (0.01) 0.00 (0.01) (A+B) DMF IN IN OUT OUT OUT IN OUT OUT OUT OUT OUT IN OUT IN OUT IN IN OUT IN OUT OUT OUT IN OUT IN IN OUT IN IN OUT IN (RM'mn) Daily Trading Participation INFLOW 18.4 12.8 54.8 28.8 66.7 181.4 OUTFLOW (30.9) (12.5) (36.5) (23.8) (11.8) 43.0 (42.7) (13.9) (41.0) 25.7 (162.9) 18.5 8 (22) 11 (19) 9 (21) 12 (18) 15 (15) NET FLOW COMPANIES INFLOW OUTFLOW Date Retail Institution Foreign Total 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar 31.0% 25.4% 22.6% 23.4% NA 54.9% 50.8% 51.1% 56.7% NA 14.1% 23.9% 26.3% 20.0% NA 100% 100% 100% 100% 0% Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 8 of 8
29. T e c h n i c a l TA Securities V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 PDaily Money Flow of Stocks Under Coverage low of Stocks Under C Malaysia FBMKLCI:1,745.75 (-1.25, -0.07%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 Total Money Flow (RM' mn) Name FBM KLCI www.taonline.com.my (B) 21-Mar 22-Mar 23-Mar 24-Mar Total 5D MF (A) 20-Mar Prv. Chg Cur. Chg (12.5) (23.8) 0.0 (13.9) 25.7 (24.5) (13.9) 39.6 1,749.4 1,754.7 1,748.3 1,747.0 1,745.8 0.6 (0.0) (0.3) 0.3 0.0 0.0 0.1 0.0 (0.1) 0.1 0.0 0.0 1.3 0.0 (0.6) (0.2) 0.0 (0.1) (0.0) (0.0) 0.1 2.04 2.46 6.11 2.06 2.40 6.10 2.05 2.51 6.19 2.03 2.50 6.14 2.03 2.49 6.14 AUTOMOBILE BJAUTO 0.2 MBMR 0.0 UMW (0.2) BANKS & FINANCIAL SERVICES AFG 0.0 AFFIN (0.6) AMBANK (0.1) CIMB 11.7 HLBANK (5.9) MAYBANK 2.3 PBANK (1.4) RHBBANK 0.2 BURSA 0.5 CONSTRUCTION BPURI 0.0 GADANG 0.1 GAMUDA 0.1 IJM (0.3) SENDAI 0.0 WCT (0.1) LITRAK 0.0 Building Materials WTHORSE (0.0) CONSUMER Brewery CARLSBG (0.1) GUINESS 0.1 Retail AEON (0.1) AMWAY 0.1 F&N (0.1) NESTLE (0.2) PADINI (0.1) POHUAT (0.0) QL 0.0 SIGN (0.0) Tobacco BAT (0.1) GAMING Casino GENTING 0.2 GENM (3.8) LUSTER (0.0) NFO BJTOTO (0.6) HEALTHCARE Hospital IHH (0.6) KPJ (0.0) RUBBER GLOVES HARTA (0.0) KOSSAN (0.1) SUPERMX (0.3) TOPGLOV (0.3) KAREX 0.1 INDUSTRIAL SCIENTX 0.0 SKPRES MEDIA ASTRO MEDIA PRIMA STAR stsoo@ta.com.my CLOSING PRICE 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar Chg (1.25) (A+B) DMF IN 0.00 OUT (0.01) OUT 0.00 OUT (0.0) (0.1) 0.1 0.1 (0.0) 0.3 5.2 1.3 (2.8) (21.3) (0.0) 0.1 (0.2) (0.0) 0.2 (0.8) (1.4) 14.9 24.3 (0.7) (1.1) 4.09 4.07 (0.0) 0.1 1.4 1.4 (3.6) (19.4) 0.1 1.1 (0.1) (0.9) (0.1) 10.6 (4.3) 5.1 (11.5) (0.1) 1.8 4.12 (0.0) (0.2) (3.8) 0.1 (0.8) 2.0 0.2 1.0 (0.1) (0.1) 0.4 0.6 0.0 11.3 5.0 (0.5) (0.0) 4.13 (0.1) (0.2) 0.8 0.1 (4.1) 2.4 (0.2) (0.8) 2.89 4.94 5.65 13.74 8.90 20.14 5.30 9.70 2.89 4.90 5.65 13.74 9.00 20.08 5.29 9.87 2.90 4.90 5.60 13.74 8.94 19.96 5.38 9.90 2.90 4.90 5.60 13.56 9.00 19.96 5.30 9.97 4.08 2.89 4.88 5.62 13.56 8.99 19.96 5.30 9.75 (0.0) (0.2) 0.9 (0.2) (0.0) 0.3 0.0 (0.0) (0.2) 0.9 (0.5) (0.0) 0.1 0.0 (0.0) (0.2) 3.1 0.2 0.0 (0.2) 0.1 (0.0) (0.2) (2.9) 1.1 (0.0) 0.0 0.0 (0.1) (0.7) 2.2 0.3 0.0 0.1 0.2 0.0 0.0 2.2 0.7 0.0 (0.2) 0.1 (0.0) 0.0 (6.0) 0.9 (0.0) 0.2 (0.1) 0.46 1.28 5.14 3.45 0.64 1.88 5.90 0.46 1.27 5.12 3.48 0.65 1.86 5.91 0.45 1.25 5.15 3.52 0.64 1.83 5.86 0.45 1.28 5.25 3.50 0.66 1.86 5.75 0.45 1.27 5.29 3.50 0.66 1.86 5.80 (0.0) (0.0) 0.0 0.0 (0.0) 0.0 (0.0) 2.00 2.00 2.00 2.00 2.00 0.00 IN (0.3) 0.1 (0.2) (0.1) 0.4 (0.0) 1.1 0.1 0.8 0.1 0.6 0.1 0.7 0.1 14.66 17.88 14.64 17.86 14.68 17.84 14.70 17.86 14.78 17.86 0.08 0.00 IN IN (0.0) (0.0) (0.0) 0.7 (0.0) (0.0) 0.6 (0.0) 0.0 (0.1) 0.0 (0.0) 0.1 0.1 (0.0) 0.0 0.1 0.0 0.0 (0.5) (0.5) (0.1) 0.0 (0.0) 0.0 (0.1) (0.0) 0.0 (0.1) (0.0) (0.0) 0.0 0.1 (0.1) (0.0) (0.0) (0.5) (0.1) 0.6 0.0 0.1 0.1 0.0 (0.5) (0.6) (0.2) 0.1 (0.0) (0.1) (0.1) (0.0) 0.5 0.4 0.1 (0.0) 0.0 2.45 7.60 23.60 77.38 2.90 1.95 4.58 0.90 2.40 7.60 24.30 80.60 2.90 1.96 4.55 0.90 2.36 7.69 24.50 78.20 2.98 2.01 4.56 0.90 2.43 7.48 24.28 78.46 2.96 1.95 4.54 0.92 2.41 7.44 24.50 78.48 2.93 1.94 4.51 0.92 (0.02) IN (0.04) IN 0.22 OUT 0.02 IN (0.03) OUT (0.01) OUT (0.03) IN 0.01 IN 5.1 1.3 (2.8) (1.9) 1.6 (4.1) 0.9 47.70 47.70 47.70 47.20 47.16 (0.04) OUT 0.5 (0.4) 0.1 (0.9) 38.5 (0.1) (1.9) 18.6 (0.0) (1.1) (3.2) (0.1) (3.1) 49.7 (0.1) (1.0) (19.9) 0.1 0.8 (21.8) (0.1) 9.83 5.54 0.13 9.80 5.68 0.13 9.75 5.50 0.13 9.69 5.45 0.12 9.67 5.57 0.12 (0.02) OUT 0.12 OUT (0.00) OUT (0.6) 0.4 0.4 0.1 (0.3) 0.0 (0.3) 2.92 2.89 2.91 2.93 2.92 (0.01) OUT (0.6) 0.0 2.4 (0.1) 2.9 (0.1) 0.2 (0.4) 4.3 (0.6) 0.5 0.0 (2.7) (0.3) 4.77 4.03 4.77 4.06 4.77 4.08 4.77 4.00 4.77 3.98 0.00 OUT (0.02) OUT 0.0 (0.0) (0.1) (0.4) 0.2 (0.1) 0.1 (0.1) (0.3) (0.3) 0.1 (0.1) (0.1) (1.0) (0.2) 0.2 0.0 (0.1) (0.2) 0.0 0.1 (0.0) (0.5) (2.1) (0.3) 0.2 (0.1) (0.0) (0.7) 0.1 0.1 0.1 0.0 0.8 0.2 4.85 6.40 2.00 5.18 2.06 4.90 6.33 2.01 5.13 2.03 4.95 6.30 2.01 5.05 2.06 4.97 6.30 2.00 5.06 2.13 4.96 6.30 1.99 5.07 2.12 (0.01) IN 0.00 OUT (0.01) OUT 0.01 IN (0.01) IN (0.0) 0.3 (0.2) 0.1 (0.2) 0.2 0.0 (0.3) (0.1) 0.3 0.6 0.1 (0.2) 7.47 1.29 7.25 1.30 7.29 1.32 (0.01) (0.1) 7.48 1.32 7.28 0.1 1.29 0.0 0.3 0.0 (0.2) 0.1 (0.0) 0.1 (0.1) (0.0) (0.0) (0.0) 0.1 (0.0) (0.1) 0.0 (0.2) 0.2 0.1 (0.1) 0.1 0.1 0.0 (0.1) (0.1) 2.87 1.26 2.45 2.86 1.21 2.46 2.85 1.18 2.47 2.84 1.15 2.49 2.86 1.15 2.49 Page 1 of 2 0.01 (0.01) (0.02) 0.02 0.00 (0.01) 0.00 0.00 (0.22) OUT OUT IN IN OUT IN IN OUT OUT 0.01 OUT (0.01) IN 0.04 OUT 0.00 IN 0.00 IN 0.00 OUT 0.05 IN IN (0.03) OUT 0.02 0.00 0.00 OUT IN IN
30. TA Securities A Member of the TA Group Total Money Flow (RM' mn) Name 20-Mar 21-Mar 22-Mar 23-Mar (0.1) (0.1) (0.0) 0.0 (0.0) 0.0 (0.0) (0.0) (0.2) (0.0) 0.6 (0.5) 0.0 (7.2) 0.5 (0.0) (0.6) (0.2) (0.0) (0.2) (0.6) 0.0 (0.3) 0.0 0.3 0.1 0.6 0.0 (0.0) 0.0 (0.1) (0.0) 0.6 (1.9) (0.2) (0.4) 0.0 (1.6) 0.0 (1.1) 0.0 (0.5) (0.0) 0.2 0.5 (0.2) 0.0 (4.9) (0.2) 0.0 3.4 1.7 0.1 (1.1) (1.4) (0.0) 0.0 (0.1) (0.0) (0.1) (0.0) (0.0) 0.0 (0.0) 0.2 (0.2) (0.4) 0.2 0.7 0.0 0.3 0.2 0.2 (0.0) (0.2) 1.7 (0.0) 0.3 0.9 (0.3) 0.0 0.0 0.0 0.9 0.1 (0.6) (1.1) (0.1) (0.2) (0.1) (0.1) TENAGA (3.0) YTLPOWR 0.6 TELECOMMUNICATIONS OIL & GAS EATECH MHB MISC PANTECH PCHEM SKPETRO UMWOG UZMA PLANTATIONS FGV IJMPLANT IOICORP KLK SIME UMCCA PROPERTY GLOMAC HUAYANG IOIPG MAHSING SPSETIA SUNWAY REIT SUNREIT CMMT POWER & UTILITIES MALAKOF PETDAG PETGAS AXIATA DIGI MAXIS TM TECHNOLOGY TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WSPRT (A) (B) Prv. Chg Cur. Chg (0.0) (0.1) (0.0) 0.0 (0.1) (0.4) (0.0) (0.7) 0.0 0.2 (0.0) 0.3 (1.1) 0.0 (7.2) (1.0) 0.0 0.4 0.3 (0.0) 0.5 (1.7) (0.1) 0.0 0.1 (0.1) (0.1) 0.1 (0.1) 0.0 0.2 (0.0) (1.7) 0.0 (0.2) (0.0) 0.6 0.0 2.4 (25.0) 3.7 (0.5) (27.0) 3.7 0.7 (4.4) (3.2) 2.2 (24.0) 5.2 (0.0) 0.1 (0.1) 0.0 (0.0) (0.0) 0.6 (0.0) (0.1) 1.4 0.0 0.0 (0.4) (0.0) 0.0 0.3 0.2 (0.1) 0.5 0.8 0.2 1.0 (0.0) (1.0) 0.7 2.3 (0.6) 0.9 0.0 (0.0) (0.0) 0.1 (0.1) (0.0) (0.0) 0.2 0.6 0.0 0.1 1.3 (1.1) (0.4) (0.3) (2.7) (1.2) 0.8 (2.6) (6.7) 0.2 0.4 (3.3) (0.1) 0.8 2.9 0.4 (1.5) (1.6) (0.7) (3.1) (1.7) 0.3 (1.1) (2.3) 38.0 0.0 28.0 1.2 6.1 0.6 35.2 (0.4) 2.8 2.8 1.7 (1.8) (4.6) (0.3) (4.0) (2.6) (1.4) (0.2) 0.4 (0.2) (0.6) (0.9) (4.0) (4.0) 1.7 0.3 7.2 (7.4) (3.4) (1.2) 3.4 1.1 1.1 (2.7) (4.8) (11.4) (3.8) (3.4) 5.1 1.3 0.0 (0.1) 0.2 0.0 (1.0) (0.2) (0.0) (0.6) 0.0 (1.5) (0.0) (0.8) (0.0) 0.3 (0.0) (0.0) (0.1) (0.2) (0.1) (0.1) (0.1) (0.3) (0.1) (0.2) (0.4) (0.7) (0.4) (0.2) 0.1 0.1 (0.5) 2.8 0.1 2.4 (0.7) 2.5 (0.1) (1.5) (0.3) (1.5) 0.6 (0.2) 0.5 6.7 (3.9) (0.2) (2.1) 0.3 (2.5) (0.1) 0.9 (0.1) (0.2) (0.1) (0.1) (0.0) (4.0) 0.0 (1.1) (B) 21-Mar 24-Mar Total 5D MF (A) 20-Mar Prv. Chg Cur. Chg Total Money Flow (S$' mn) Name Total 5D MF (0.0) (0.0) Semiconductor & Electronics IRIS 0.0 INARI 0.3 MPI UNISEM 24-Mar 22-Mar 23-Mar (0.8) 0.8 (1.1) OCBC UOB PLANTATIONS (0.6) (0.4) WILMAR IFAR (0.5) 0.3 0.0 (0.0) 21-Mar 22-Mar 23-Mar 0.70 0.68 0.97 0.67 0.98 0.69 0.98 7.42 0.53 7.45 7.44 0.53 7.58 7.45 0.53 7.48 7.34 0.53 7.51 1.88 0.65 1.88 0.65 1.88 0.65 1.87 0.65 1.76 1.76 1.78 1.80 2.09 2.05 2.05 2.04 3.17 4.68 3.22 4.70 3.22 4.77 3.18 4.69 24.80 9.30 5.90 24.82 9.30 5.95 24.80 9.26 6.15 24.68 9.50 6.15 0.73 1.15 0.73 1.14 0.72 1.15 0.73 1.14 2.04 1.50 2.04 1.50 2.09 1.49 2.07 1.49 3.40 3.20 3.40 3.21 3.40 3.21 3.45 3.26 1.75 1.67 1.74 1.66 1.73 1.65 1.75 1.66 1.67 1.17 23.70 1.17 23.70 1.17 23.60 1.17 23.84 19.88 13.72 1.52 19.96 13.78 1.52 19.98 13.72 1.50 19.72 13.72 1.51 5.08 5.07 5.06 5.00 5.12 6.36 6.40 5.13 6.38 6.42 5.13 6.43 6.36 5.14 6.37 6.35 0.15 1.93 10.56 0.15 1.97 10.62 0.16 1.96 10.96 0.16 2.04 11.24 3.08 3.12 3.19 3.26 11.96 3.20 1.9 2.87 7.17 2.83 7.19 2.81 7.28 2.88 7.20 7.15 0.0 0.1 1.71 3.89 1.74 4.00 1.71 4.00 1.68 3.99 1.69 4.02 0.96 7.34 0.53 7.52 1.87 0.65 1.80 2.04 3.15 Chg 21-Mar 22-Mar 23-Mar 0.00 0.00 6.10 (0.05) OUT 0.73 1.12 2.04 1.49 3.49 0.00 OUT (0.02) IN (0.03) OUT 0.00 IN 0.04 OUT 3.25 (0.01) 1.73 (0.02) OUT 0.01 IN 1.18 23.80 19.72 13.72 1.51 4.96 5.14 6.40 6.34 0.15 2.02 2.85 24-Mar (0.04) OUT 0.00 OUT 0.03 IN (0.01) OUT (0.01) OUT (0.02) OUT 0.72 OUT (0.06) OUT (0.03) IN (0.05) OUT 0.01 0.03 Chg 3,126.9 3,142.9 19.00 9.62 21.80 18.67 9.45 21.53 18.65 9.50 21.61 18.79 0.14 9.57 21.78 0.07 0.17 3.54 0.53 0.00 0.01 (2.9) 7.2 (1.4) (5.7) 1.9 1.2 0.9 3.3 19.01 9.63 21.86 (0.7) 0.1 0.2 (0.2) 0.8 (0.1) 1.0 0.1 3.55 3.51 3.54 (0.1) 1.1 0.0 3.59 (0.1) 0.53 0.53 0.53 0.53 IN 0.01 OUT (0.04) OUT 0.00 OUT 0.00 IN 0.00 IN 3,118.2 (6.7) IN 4.66 24.48 9.40 3,158.6 0.7 1.2 OUT 0.00 IN (0.03) OUT (0.03) IN (0.20) OUT (0.10) IN 3,165.7 2.1 (A+B) DMF 0.01 OUT (0.02) OUT 0.00 OUT (0.01) IN 0.01 IN 0.00 OUT CLOSING PRICE 20-Mar (5.1) (0.2) (2.1) (2.2) (2.1) (3.3) 24-Mar 0.70 0.95 FSSTI BANKS & FINANCIAL SERVICES DBS (0.7) CLOSING PRICE 20-Mar IN OUT (A+B) DMF 15.97 IN IN IN IN IN Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Page 2 of 2
31. Technical View TA Securities Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Money Flow of the Plantation Sector Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Name Tel: +603-2167 9607 Total Money Flow (RM' mn) KL PLANT 20-Mar (0.6) 21-Mar (8.1) 22-Mar 3.2 23-Mar (1.6) BKAWAN BLDPLNT (0.0) 0.0 (0.1) 0.0 0.0 0.0 (0.0) 0.0 CEPAT CHINTEK (0.0) 0.0 (0.0) 0.0 0.0 0.0 0.0 0.0 DUTALND FAREAST (0.0) 0.0 (0.0) 0.0 0.1 0.0 (0.1) 0.0 FGV GENP 0.6 (0.5) (1.9) (0.3) (0.2) 0.2 (0.4) (0.4) GLBHD GOPENG (0.0) (0.0) 0.0 (0.0) 0.0 (0.0) (0.0) 0.0 HSPLANT HARNLEN 0.0 0.0 (0.0) 0.0 0.0 (0.0) 0.0 0.0 IJMPLNT INCKEN 0.0 0.0 0.0 (0.0) 0.0 (0.0) (0.0) (1.6) 0.0 (1.1) 0.0 (0.5) 0.0 0.2 0.0 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (0.0) 0.0 (0.0) 0.1 0.5 (0.0) (4.9) (0.0) 3.4 0.0 (1.1) 0.1 (25.0) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NSOP 0.0 (0.0) 0.0 0.1 0.0 0.0 (0.0) 0.0 0.0 0.0 (0.0) PINEPAC PLS (0.0) 0.1 (0.0) 0.0 (0.0) (0.0) (0.0) (0.0) RSAWIT RVIEW 0.0 (0.0) 0.0 (0.0) (0.0) (0.0) 0.0 0.0 SOP SWKPLNT 0.1 0.0 0.0 (0.1) 0.0 (0.0) SBAGAN TDM (0.0) (0.1) 0.0 0.0 THPLANT TSH (0.0) 0.1 UNICO UMCCA UTDPLT IOICORP KMLOONG KLUANG KRETAM KLK KULIM KWANTAS MHC 24-Mar (22.5) 0.1 stsoo@ta.com.my (A) Total 5D MF Prv. Chg (29.7) (4.7) (B) Cur. Chg (21.0) www.taonline.com.my CLOSING PRICE 20-Mar 8,203.4 21-Mar 8,200.4 22-Mar 8,230.4 23-Mar 8,180.4 24-Mar 8,156.7 (A+B) DMF Chg (23.77) OUT (0.0) 0.0 (0.1) 0.0 0.1 0.0 19.54 8.53 19.42 8.53 19.42 8.53 19.40 8.53 19.50 8.68 (0.1) 0.0 0.0 0.0 (0.0) 0.0 0.88 0.00 0.88 0.00 0.87 0.00 0.87 0.00 0.86 0.00 (0.0) 0.1 (0.2) 0.0 0.1 0.0 0.50 8.70 0.49 8.70 0.48 8.90 0.48 8.90 0.47 8.90 (1.7) (1.1) (0.2) (0.6) 0.6 0.2 2.09 11.50 2.05 11.50 2.05 11.50 2.04 11.48 2.04 11.60 0.0 0.1 (0.0) 0.0 0.0 0.1 0.61 1.21 0.62 1.21 0.63 1.21 0.63 1.25 0.64 1.30 0.00 IN 0.12 OUT 0.01 OUT 0.05 IN 0.0 (0.0) 0.0 0.0 0.0 (0.0) 2.60 0.83 2.58 0.83 2.60 0.85 2.62 0.85 2.62 0.85 0.00 0.00 0.0 0.0 (0.0) 0.0 0.0 (0.0) 3.17 3.22 3.22 3.18 (0.5) 0.0 0.7 (0.0) 2.2 (0.0) 0.69 4.68 0.69 4.70 0.69 4.77 0.69 4.69 3.15 0.70 0.0 0.1 (0.0) 0.0 0.0 0.1 3.60 3.22 3.60 3.27 3.62 3.27 3.66 3.22 (0.03) OUT 0.01 OUT (0.03) IN 0.05 OUT (27.0) 0.0 (4.4) 0.0 (24.0) 0.0 0.65 24.80 0.64 24.82 0.62 24.80 0.62 24.68 0.0 0.0 0.0 (0.0) 0.0 (0.0) 0.00 1.46 0.00 1.46 0.00 1.46 0.00 1.46 (0.0) 0.1 0.0 (0.0) 0.89 4.12 0.88 4.18 0.88 4.18 0.90 4.18 (0.0) (0.0) (0.0) 0.1 0.0 0.0 0.0 0.0 0.30 1.14 0.28 1.14 0.28 1.14 0.28 1.14 0.27 1.07 (0.0) (0.0) (0.0) (0.0) 0.0 0.0 (0.0) (0.0) 0.51 3.91 0.51 3.88 0.51 3.88 0.50 3.91 0.50 3.91 0.0 0.0 0.0 (0.0) 0.2 (0.1) 0.0 0.0 (0.0) (0.0) 3.61 1.73 3.67 1.73 3.68 1.72 3.65 1.72 3.65 1.72 0.0 0.0 0.0 0.0 0.0 (0.0) 0.0 (0.0) 0.0 0.0 (0.0) (0.1) 3.00 0.68 2.98 0.68 2.99 0.68 3.04 0.68 3.04 0.68 (0.0) (0.0) 0.0 0.0 0.0 (0.0) (0.0) 0.1 (0.0) (0.0) (0.0) 0.0 1.18 1.85 1.18 1.82 1.19 1.83 1.19 1.82 1.18 1.82 0.0 0.0 0.0 0.0 0.0 0.1 0.0 (0.0) (0.0) 0.0 0.0 0.0 0.1 0.0 (0.1) 0.0 0.0 0.00 5.90 0.00 5.95 0.00 6.15 0.00 6.15 0.00 6.10 0.0 0.0 (0.0) 0.0 (0.0) 0.0 (0.1) 28.30 28.40 28.22 28.24 28.24 0.0 (0.0) 0.0 0.0 0.0 0.2 (0.2) 0.0 0.1 0.0 (0.0) (0.0) Sources: Bloomberg, TA Securities Page 1 of 4 4.66 3.71 3.22 0.61 24.48 0.00 1.46 0.87 4.10 0.10 0.15 IN IN (0.01) OUT 0.00 OUT (0.01) OUT 0.00 OUT IN IN 0.00 OUT (0.01) IN (0.20) OUT 0.00 OUT 0.00 OUT (0.03) OUT (0.08) OUT (0.01) IN (0.07) IN (0.01) OUT 0.00 OUT 0.00 OUT 0.00 IN 0.00 OUT 0.00 OUT (0.01) OUT 0.00 OUT 0.00 OUT (0.05) OUT 0.00 OUT
32. TA Securities A Member of the TA Group Daily Money Flow of the Construction Sector Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo Name KL CONSTR 20-Mar (0.8) Tel: +603-2167 9607 Total Money Flow (RM' mn) 21-Mar 22-Mar 23-Mar 1.4 0.1 stsoo@ta.com.my (A) Prv. Chg (B) Cur. Chg 0.5 1.8 (3.9) 0.2 0.0 (0.2) 0.1 0.2 0.0 0.97 0.96 0.53 0.54 (0.2) (0.1) 0.1 0.80 24-Mar Total 5D MF 1.9 (2.0) 20-Mar 320.7 21-Mar 320.8 www.taonline.com.my CLOSING PRICE 22-Mar 23-Mar 321.2 Chg (A+B) DMF 323.6 324.0 0.37 OUT 0.94 0.93 0.54 0.00 0.00 IN 0.53 0.93 0.54 0.80 0.80 0.80 0.80 0.01 OUT 0.46 0.86 0.46 0.89 0.45 0.89 0.45 0.89 0.45 0.01 0.89 0.00 OUT IN 0.0 0.95 0.95 0.96 0.94 0.95 0.01 OUT (0.0) 0.5 1.84 1.84 1.80 1.90 1.35 1.33 1.35 0.01 (0.01) IN 1.35 1.91 1.34 (0.0) 0.64 0.65 0.64 0.66 0.66 0.00 IN (0.1) 0.76 1.34 0.75 1.30 0.75 1.30 0.75 1.28 0.75 0.00 OUT IN 1.28 1.27 1.25 1.28 5.14 5.12 5.15 5.25 0.79 0.79 0.79 0.79 0.80 1.71 3.45 1.70 3.48 1.70 3.52 1.69 3.50 1.69 0.00 3.50 0.00 IN IN 0.67 0.00 IN 1.44 2.20 0.01 0.01 OUT OUT AZRB BENALEC (0.2) 0.2 0.1 (0.1) (0.0) 0.1 (0.1) 0.0 0.2 0.1 BDB (0.0) (0.0) 0.0 (0.1) (0.0) BPURI 0.0 0.0 (0.0) (0.0) (0.0) (0.0) (0.0) 0.0 (0.0) (0.1) 0.0 (0.0) BREM (0.0) (0.0) 0.0 (0.0) CRESBLD 0.0 0.0 0.0 (0.0) 0.0 0.0 (0.0) DKLS EKOVEST 0.0 0.0 (0.0) 0.0 (0.2) (0.5) (0.3) (0.5) 0.0 0.0 0.0 (1.5) 0.0 (0.3) SENDAI 0.0 (0.0) (0.0) 0.0 (0.0) 0.0 0.0 FAJAR 0.0 (0.0) (0.1) (0.1) (0.0) 0.0 0.0 (0.1) (0.1) (0.1) 0.0 0.0 (0.2) (0.1) 0.1 GADANG GAMUDA 0.1 (0.2) (0.2) (0.2) 0.1 0.9 0.9 3.1 (0.2) (2.9) (0.7) 2.2 0.0 2.2 0.0 (6.0) HOHUP (0.0) 0.0 0.0 0.0 0.0 0.0 (0.0) (0.0) HSL (0.0) (0.2) (0.0) (0.5) (0.0) 0.2 0.0 (0.0) (0.0) 0.1 IJM 0.0 (0.3) 1.1 0.3 0.7 0.9 IREKA (0.0) (0.0) (0.0) 0.0 0.0 (0.0) 0.0 0.0 0.67 0.67 0.67 0.67 JAKS KIMLUN (0.1) 0.1 (0.4) 0.5 1.43 (0.0) (0.4) 0.0 1.47 0.1 0.9 (0.1) 1.51 (0.0) 0.2 0.1 1.51 0.0 0.1 0.0 2.20 2.20 2.19 2.19 GBGAQRS 24-Mar 1.29 1.27 5.29 0.01 IN IN (0.01) IN 0.04 OUT 0.01 OUT IN KEURO 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.00 0.00 0.00 0.00 0.00 0.00 JETSON (0.0) 1.0 0.0 0.2 0.0 (0.9) 0.0 0.0 (0.0) 0.0 (0.2) (1.1) 0.4 0.39 1.64 0.39 1.62 0.40 1.68 (0.01) (0.5) 0.40 1.52 0.39 MRCB (0.0) 0.0 MELATI 0.0 0.0 0.0 0.0 (0.0) (0.0) 0.0 (0.0) 0.86 0.86 0.86 0.86 0.85 MERGE MITRA 0.0 0.0 (0.0) 0.0 0.34 0.0 0.0 (0.1) 0.34 0.0 0.0 (0.0) 0.36 (0.1) 0.0 (0.2) 0.35 (0.1) 0.0 (0.1) 1.32 1.31 1.30 1.32 0.33 1.32 0.0 0.0 0.0 0.1 (0.0) 0.0 (0.0) (0.0) (0.0) (0.0) 0.0 (0.0) MUDAJYA (0.0) 0.1 (0.1) 0.0 0.38 0.93 0.38 0.97 0.38 1.02 0.38 1.02 0.99 MUHIBAH (0.2) 0.3 0.2 0.1 0.3 0.6 (0.1) 0.2 2.65 2.63 2.62 2.67 2.66 PESONA PTARAS (0.0) 0.0 (0.0) 0.0 (0.0) 0.0 0.67 0.0 0.0 (0.0) 0.66 0.0 (0.0) (0.0) 0.67 (0.0) (0.0) 0.0 0.67 (0.0) 3.53 3.53 3.53 3.53 0.67 3.53 0.00 0.00 OUT MTDACPI 1.62 0.37 IN (0.06) OUT (0.01) OUT (0.02) IN 0.00 OUT (0.01) IN (0.03) OUT (0.01) IN IN PLB 0.0 0.0 0.0 0.0 0.0 0.0 (0.0) 0.0 1.46 1.46 1.46 1.44 1.45 0.01 OUT PSIPTEK (0.1) (0.0) (0.0) 0.0 (0.0) (0.0) (0.0) (0.2) (0.0) 0.0 0.1 (0.1) 0.0 0.18 1.11 0.17 1.09 0.18 1.08 0.00 (0.0) 0.17 1.11 0.18 PRTASCO (0.0) 0.1 1.08 0.00 IN OUT SYCAL (0.0) (0.0) 0.0 (0.0) 0.0 (0.0) (0.0) 0.0 0.36 0.35 0.35 0.36 0.36 0.01 TRC TRIPLC (0.0) 0.0 (0.1) 0.1 0.51 (0.0) (0.1) 0.0 0.51 0.0 0.1 (0.0) 0.52 (0.0) (0.1) (0.0) 0.52 0.0 (0.0) (0.0) 1.80 1.76 1.79 1.77 0.51 1.75 TSRCAP 0.1 0.0 0.1 (0.0) 0.0 0.1 (0.1) 0.1 0.65 0.65 0.66 0.64 0.64 WCT 0.3 (0.0) 0.1 0.0 (0.2) 0.0 0.0 0.1 (0.2) 0.2 0.0 0.0 0.0 1.86 0.58 1.83 0.58 1.86 0.58 0.00 0.0 1.88 0.58 1.86 ZECON (0.1) 0.0 0.59 0.01 OUT IN ZELAN (0.1) (0.1) (0.1) (0.0) (0.0) (0.2) 0.0 (0.0) 0.16 0.16 0.15 0.16 0.16 0.00 IN Sources: Bloomberg, TA Securities Page 2 of 4 IN 0.00 IN (0.02) OUT 0.00 OUT
33. TA Securities A Member of the TA Group Daily Money Flow of the Property Sector Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo Name Tel: +603-2167 9607 Total Money Flow (RM' mn) 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar Total 5D MF stsoo@ta.com.my (A) (B) Prv. Chg Cur. Chg www.taonline.com.my CLOSING PRICE 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar KL PROP 0.3 1.0 (0.0) 1.6 0.7 3.6 1.6 (0.9) 1,281.0 1,285.0 1,284.4 1,291.1 1,285.3 A&M AMPROP 0.1 0.0 0.0 (0.0) 0.0 0.1 0.0 0.0 (0.0) 0.0 (0.0) (0.0) 0.0 0.0 (0.0) (0.0) 0.0 0.0 (0.0) 0.0 (0.0) 0.0 0.1 0.0 (0.0) 0.0 (0.0) (0.0) 0.0 (0.0) 0.0 (0.1) (0.0) (0.0) (0.0) 0.0 0.0 0.1 0.0 0.0 (0.0) 0.0 0.0 0.0 0.0 1.41 0.85 0.17 0.48 0.87 0.0 0.0 (0.0) (0.0) 0.0 0.0 0.0 (0.0) 0.0 (0.0) 0.0 1.41 0.84 0.17 0.48 0.85 0.0 (0.0) (0.0) (0.1) (0.0) (0.1) 0.0 (0.0) (0.0) (0.0) 0.0 1.42 0.83 0.17 0.48 0.86 1.40 0.84 0.0 (0.0) 0.0 0.0 0.0 1.44 0.82 0.18 0.46 0.86 0.1 (0.0) (0.0) 0.0 (0.0) 0.0 0.0 (0.0) (0.0) (0.1) (0.1) (0.0) 0.54 1.30 1.66 1.60 2.33 0.79 0.0 0.0 0.0 (0.0) (0.0) 0.0 0.0 0.1 0.0 0.0 0.1 (0.1) 0.54 1.30 1.66 1.59 2.23 0.80 (0.0) (0.0) (0.0) (0.0) 0.0 0.0 (0.0) (0.1) 0.0 (0.1) (0.0) 0.7 0.54 1.32 1.66 1.60 2.26 0.81 (0.1) 0.7 (0.0) 0.0 (0.0) 0.0 0.0 0.0 0.0 (0.1) (0.0) (0.1) 0.54 1.32 1.67 1.60 2.22 0.80 0.0 0.0 (0.0) 0.1 (0.0) (0.0) 0.0 0.0 0.0 (0.1) (0.0) 1.00 1.98 0.85 0.88 0.59 0.00 0.0 (0.0) (0.0) (0.0) (0.0) (0.0) 0.0 0.0 0.0 (0.0) 0.0 1.00 2.00 0.82 0.86 0.58 0.00 0.0 (0.0) (0.0) 0.0 (0.1) (0.0) 0.1 (0.0) 0.0 (0.1) (0.0) 1.00 2.02 0.83 0.87 0.53 0.00 (0.1) 0.0 (0.0) 0.0 (0.1) (0.0) 0.0 (0.0) 0.0 (0.1) (0.0) 1.00 2.03 0.84 0.84 0.52 0.00 0.0 (0.0) 0.0 0.0 0.0 (0.0) (0.0) 0.1 0.0 0.0 0.1 0.42 0.73 0.45 1.36 1.14 0.0 (0.0) (0.0) 0.0 (0.1) (0.0) 0.0 0.1 0.0 0.0 0.0 0.43 0.72 0.46 1.34 1.15 0.0 (0.0) (0.0) 0.0 (0.6) (0.0) (0.1) 0.2 (0.1) 0.0 (0.1) 0.44 0.73 0.46 1.34 1.14 0.0 (0.1) 0.0 (0.0) (0.1) (0.0) (0.0) 0.1 (0.0) 0.0 0.1 0.43 0.73 0.47 1.35 1.15 0.0 0.0 0.2 (0.0) (0.0) 0.0 (0.1) (0.1) 0.0 0.0 (0.0) 0.00 0.61 0.94 2.91 0.58 0.07 0.0 (0.0) (0.1) 0.0 0.0 0.0 0.0 0.1 (0.0) 0.0 0.0 0.00 0.61 0.93 2.90 0.57 0.08 (0.0) (0.0) (0.4) 0.0 0.0 0.0 0.0 (0.9) (0.1) 0.0 (0.0) 0.00 0.62 0.93 2.90 0.58 0.08 0.0 (0.0) 0.0 0.1 (0.0) 0.0 (0.0) (0.1) 0.0 0.0 0.0 0.00 0.62 0.94 2.90 0.58 0.08 0.0 (0.0) 0.0 (0.0) 0.2 0.0 (0.2) (0.0) 0.0 0.0 0.0 0.12 0.94 8.00 1.27 0.33 (0.0) 0.1 0.0 (0.0) 0.0 (0.0) 0.3 (0.1) (0.0) 0.0 (0.1) 0.12 0.90 8.03 1.25 0.33 (0.0) 0.1 0.0 (0.0) 0.2 0.0 (0.3) 0.0 (0.0) (0.1) 0.2 0.12 0.91 8.00 1.26 0.33 (0.1) 0.0 0.0 (0.0) (0.2) 0.0 (0.0) (0.1) (0.0) 0.0 0.0 0.17 0.90 8.03 1.28 0.34 0.0 (0.1) 0.0 0.0 (0.0) 0.0 (0.0) (0.1) (0.0) (0.0) 0.0 0.1 1.22 1.94 0.26 1.57 1.49 0.33 0.0 0.2 (0.0) (0.0) (0.0) (0.0) 0.0 (0.0) 0.2 0.0 0.0 (0.2) 1.22 1.92 0.26 1.58 1.49 0.32 0.0 0.2 0.0 0.0 0.0 0.0 0.1 (0.2) 0.5 (0.0) 0.0 (0.1) 1.21 1.91 0.26 1.57 1.50 0.34 0.0 (0.4) 0.0 0.0 (0.0) 0.0 (0.0) (0.1) 0.2 0.0 0.0 0.0 1.21 1.91 0.26 1.57 1.50 0.33 (0.0) 0.0 0.1 (0.0) 0.1 (0.0) (0.0) 0.0 0.0 0.0 (0.0) 0.16 1.29 0.48 0.82 0.32 3.12 0.0 (0.0) (0.0) (0.0) (0.0) 0.0 0.0 (0.0) 0.0 (0.0) 0.0 0.16 1.33 0.47 0.81 0.32 3.08 0.0 0.0 0.0 0.0 (0.0) 0.0 0.0 (0.1) 0.1 0.1 0.0 0.16 1.29 0.49 0.82 0.33 3.10 0.0 0.0 0.1 0.1 (0.0) (0.0) (0.0) (0.0) 0.0 0.0 (0.0) 0.15 1.30 0.49 0.81 0.33 3.10 (0.0) (0.0) 0.1 (0.1) (0.0) 0.34 0.27 1.52 1.57 1.77 (0.0) 0.1 (0.0) 0.1 0.0 0.32 0.27 1.53 1.57 1.74 (0.0) 0.1 0.1 (0.0) (0.0) 0.33 0.28 1.53 1.58 1.73 0.1 0.0 0.1 (0.0) (0.0) 0.32 0.28 1.54 1.57 1.74 0.60 0.62 0.60 0.61 ASIAPAC BCB BJASSET BERTAM CHHB CVIEW CRESNDO DAIMAN DBHD TROP E&O ENCORP EUPE FARLIM ECOWLD GOB GLOMAC GMUTUAL GUOCO HUAYANG HUNZPTY IBHD IBRACO IGB IVORY KBUNAI JKGLAND KEN KLCCP KSL L&G LBICAP LBS LIENHOE MAGNA MAHSING MJPERAK MPCORP MALTON MEDAINC MENANG MKLAND MKH MUIPROP THRIVEN NAIM OSKPROP PARAMON PASDEC Sources: Bloomberg, TA Securities Page 3 of 4 Chg (5.76) (A+B) DMF IN 0.18 0.47 0.87 0.53 1.30 (0.01) OUT (0.01) IN 0.00 OUT (0.01) OUT 0.00 IN (0.01) OUT 0.00 IN 1.66 1.60 2.33 0.80 0.99 1.93 0.00 0.00 0.00 0.01 (0.01) (0.05) 0.85 0.91 0.56 0.00 0.42 0.73 0.45 1.39 1.12 0.00 0.61 0.94 2.91 0.57 0.08 0.12 0.94 7.99 1.22 0.33 1.22 1.93 OUT IN IN OUT OUT OUT 0.00 OUT 0.03 IN (0.02) IN 0.00 OUT (0.01) OUT 0.00 OUT 0.00 OUT 0.03 IN (0.02) IN 0.00 OUT (0.01) IN 0.00 IN 0.00 OUT (0.01) IN 0.00 IN 0.00 IN 0.00 IN 0.26 1.56 1.49 0.33 0.16 1.27 (0.01) IN (0.05) OUT (0.01) OUT 0.00 IN (0.01) OUT (0.01) OUT (0.01) OUT 0.00 IN 0.00 IN 0.01 OUT (0.02) OUT 0.47 0.81 0.32 3.12 0.33 0.27 (0.01) (0.00) 0.00 0.00 (0.01) 0.00 1.53 1.56 1.78 0.60 OUT OUT OUT IN OUT IN 0.01 IN (0.01) IN 0.01 OUT (0.01) OUT
34. TA Securities A Member of the TA Group Name Total Money Flow (RM' mn) (A) Total 5D MF Prv. Chg (B) 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar ENRA PTGTIN 0.0 0.0 0.0 0.0 (0.0) (0.0) 0.0 0.0 0.1 (0.0) 0.1 0.0 0.0 0.0 0.1 (0.0) 2.58 0.33 2.58 0.34 2.56 0.33 2.65 0.34 2.72 0.33 PJDEV PLENITU 0.0 0.0 0.0 0.0 0.00 0.0 0.0 0.0 (0.0) 0.00 0.0 (0.0) 0.0 0.0 0.00 (0.0) (0.0) 0.0 (0.0) 0.00 (0.0) (0.1) 0.0 (0.0) 0.1 0.0 (0.0) (0.1) 1.59 1.18 0.0 (0.0) 0.0 0.1 1.60 1.14 0.0 (0.0) (0.1) 0.1 1.58 1.17 (0.0) (0.0) (0.0) 0.0 1.58 1.19 0.00 1.58 SNTORIA 0.0 0.0 (0.0) 0.0 0.76 0.87 (0.0) (0.0) 0.0 0.0 0.73 0.86 0.0 0.0 (0.0) 0.0 0.72 0.89 0.0 0.0 (0.0) 0.0 0.71 0.90 (0.0) (0.0) 0.0 (0.0) 4.60 0.73 4.61 0.72 4.60 0.72 4.60 0.73 SHL SMI 0.0 (0.0) 0.0 0.0 (0.0) (0.0) (0.0) (0.0) 0.0 0.0 (0.0) 0.0 0.0 0.0 0.0 0.0 2.84 0.17 2.85 0.18 2.87 0.18 SPSETIA SUNWAY 0.2 (0.0) (0.2) 1.7 (0.0) 0.3 0.9 (0.3) (0.1) 0.7 0.8 2.3 1.0 (0.6) (1.0) 0.9 3.40 3.20 3.40 3.21 SYMLIFE TAGB (0.0) (0.0) (0.0) 0.0 0.0 0.0 0.1 0.0 (0.0) 0.0 (0.0) (0.2) 0.0 (0.1) (0.1) (0.0) 0.89 (0.3) 0.0 (0.0) (0.0) 0.0 0.0 0.0 (0.3) (0.0) (0.2) 0.0 (0.4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (0.0) (0.1) (0.9) (0.2) 0.0 0.4 (0.0) (0.5) SAPRES SBCCORP SDRED SPB TAHPS TAMBUN TANCO Cur. Chg CLOSING PRICE 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar 1.15 0.76 Chg (A+B) DMF 0.07 IN (0.01) IN 0.00 OUT (0.01) OUT 0.86 4.63 (0.03) IN 0.00 IN (0.02) IN 0.03 IN 0.73 0.01 IN 2.86 0.18 2.87 0.18 0.01 0.00 IN IN 3.40 3.21 3.45 3.26 3.49 3.25 0.88 0.86 0.88 0.38 6.78 0.38 6.80 0.39 6.80 0.39 6.80 0.87 0.38 0.04 OUT (0.01) IN (0.01) OUT (0.01) OUT 0.3 1.40 0.10 1.45 0.11 1.46 0.12 1.46 0.12 0.0 0.5 0.05 1.26 0.05 1.30 0.05 1.29 0.05 1.30 0.04 1.28 6.80 1.46 0.11 0.00 OUT 0.00 IN (0.01) IN (0.01) OUT (0.02) IN TALAMT UEMS 0.0 (0.1) 0.0 1.0 (0.0) 0.0 (0.0) (0.5) (0.0) 0.1 UOADEV WINGTM 0.4 0.0 (0.4) (0.0) 0.1 (0.0) 1.0 0.0 0.1 (0.0) 1.2 (0.0) 0.9 0.0 (0.9) (0.0) 2.52 1.09 2.53 1.09 2.53 1.08 2.55 1.08 2.57 1.06 Y&G YNHPROP 0.0 0.0 0.0 0.0 1.05 0.0 0.0 0.0 (0.0) 1.05 (0.0) (0.0) 0.0 0.0 1.05 (0.2) (0.0) 0.0 (0.1) 1.05 0.1 0.0 0.0 (0.0) (0.0) (0.0) 0.1 (0.0) 1.57 0.67 1.51 0.67 1.51 0.66 1.53 0.67 1.05 1.53 0.02 IN (0.02) OUT 0.00 IN 0.00 IN 0.66 (0.01) IN YTLLAND Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 4 of 4
35. T e c h n i c a l TA Securities V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Ace Market Stock Watch Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167-9607 stsoo@ta.com.my www.taonline.com.my Report Description: The Weekly Ace Market Stock Watch is a compilation of selected stocks aimed at providing trading ideas and guide for momentum trading. The following table is derived from the 109 Ace Market counters currently listed in Bursa Malaysia. This recommendation is based on combination of fundamental and technical analysis. List of 30 Ace Market Stocks No Code 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 0152 0133 0096 0140 0010 0153 0072 0028 0094 0105 0104 0034 0017 0020 0150 0165 0120 0109 0026 0069 0074 0171 0102 0035 0050 0177 0011 0161 0131 0181 Name Ticker Current Market Cap (RMmn) DGB SANICHI [S] NEXGRAM [S] STERPRO [S] IRIS [S] OVERSEA AT [S] SCOPE [S] INIX [S] ASIAPLY [S] GENETEC [S] MMAG [S] M3TECH [S] NETX [S] ASIABIO XOX [S] VIS [S] SCBUILD NOVAMSC [S] VIVOCOM [S] GOCEAN [S] PLABS CONNECT [S] OPCOM [S] SYSTECH [S] PASUKGB [S] BTECH [S] SCH [S] DGSB [S] AEMULUS 0152 MK EQUITY 0133 MK EQUITY 0096 MK EQUITY 0140 MK EQUITY 0010 MK EQUITY 0153 MK EQUITY 0072 MK EQUITY 0028 MK EQUITY 0094 MK EQUITY 0105 MK EQUITY 0104 MK EQUITY 0034 MK EQUITY 0017 MK EQUITY 0020 MK EQUITY 0150 MK EQUITY 0165 MK EQUITY 0120 MK EQUITY 0109 MK EQUITY 0026 MK EQUITY 0069 MK EQUITY 0074 MK EQUITY 0171 MK EQUITY 0102 MK EQUITY 0035 MK EQUITY 0050 MK EQUITY 0177 MK EQUITY 0011 MK EQUITY 0161 MK EQUITY 0131 MK EQUITY 0181 MK EQUITY 17.12 60.09 75.29 61.44 303.64 58.17 39.88 124.98 18.99 55.03 29.37 47.69 11.69 12.51 64.40 72.07 71.95 30.76 58.08 501.30 22.39 51.70 56.44 97.56 79.02 64.93 86.94 90.69 54.24 155.79 Closing Volume Price (RM) (million) 0.05 0.08 0.05 0.21 0.15 0.23 0.05 0.24 0.09 0.19 0.84 0.05 0.07 0.03 0.06 0.11 0.62 0.04 0.09 0.16 0.10 0.29 0.24 0.60 0.29 0.17 0.36 0.25 0.07 0.36 1.55 4.07 2.56 10.67 21.44 1.01 6.98 2.03 0.52 0.57 0.01 13.98 0.19 2.65 0.64 1.01 0.67 0.73 0.73 6.78 0.45 1.04 3.34 0.11 1.49 0.05 0.10 2.10 1.08 1.25 Price to Book EPS (RM) PE Ratio (%) 3Q16 4Q16 3Q16 4Q16 2015 2016 0.57 0.41 0.45 0.44 0.81 0.89 0.85 0.75 0.62 1.42 1.60 0.76 1.33 1.21 0.91 0.91 1.05 1.26 1.29 1.48 1.34 1.16 1.30 1.52 1.80 1.52 1.49 1.31 2.12 2.12 0.20 0.28 0.43 0.55 0.60 0.63 0.71 0.72 0.75 0.76 0.79 0.84 0.85 0.92 0.98 1.00 1.09 1.09 1.12 1.18 1.23 1.26 1.29 1.30 1.45 1.56 1.57 1.58 1.73 1.74 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 -0.01 0.00 -0.06 0.00 0.00 0.00 0.01 0.00 0.02 0.00 0.00 0.00 0.00 0.01 0.00 0.02 0.00 -0.01 0.01 0.00 0.00 0.00 0.00 0.01 -0.01 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 -0.03 -0.01 -0.02 -0.02 -0.01 -0.03 0.02 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 na 21.43 30.26 na na 81.25 49.72 na na na 16.14 na na na na 30.43 na na 65.06 40.44 na 16.76 13.78 37.86 33.16 63.33 13.10 13.38 28.95 19.34 Operating Margin (%) 3Q16 4Q16 Return on Assets (%) Revenue (RMmn) Net Income (RMmn) 3Q16 4Q16 3Q16 4Q16 2015 2016 na -153.94 0.10 -9.56 -0.16 0.34 7.12 9.90 21.88 21.00 2.05 2.45 9.63 15.71 8.20 35.81 -146.88 7.39 3.53 13.64 9.57 na -8.52 -42.95 na na 61.82 40.76 51.61 15.97 18.51 -1.69 0.52 145.14 107.75 na -17.52 -8.07 -1.49 -4.59 12.22 18.03 na -8.46 -23.32 -4.27 -4.48 5.19 3.42 48.33 -9.77 26.03 -0.64 1.20 4.29 7.31 na na 19.78 -22.86 -22.58 0.00 2.53 10.20 12.85 9.92 10.13 5.69 14.00 13.64 11.17 -30.75 -15.73 6.04 3.32 19.80 16.59 na -4.09 -12.31 -14.09 -13.72 68.24 58.90 na 9.30 -16.00 -4.35 -12.91 10.18 9.91 na 52.94 -3,004.00 -19.98 -23.93 3.82 0.05 na 7,421.98 -349.30 -38.97 -55.33 0.09 2.94 na 3.32 -21.86 2.67 -9.21 37.51 50.43 6.06 22.85 26.02 4.28 15.11 8.07 11.74 na -13.96 -41.59 -17.77 -9.99 5.72 3.52 85.59 1.85 7.10 0.70 0.96 7.95 8.34 9.41 30.30 16.17 13.39 10.81 55.91 46.01 na -0.19 0.97 -0.13 0.64 57.57 72.30 14.72 8.69 5.34 6.57 6.00 20.79 22.73 na 3.20 -1.03 -4.95 -0.02 19.78 26.02 14.35 7.05 1.89 6.17 5.46 29.13 18.98 44.74 17.34 7.98 2.67 2.70 3.16 3.06 na -24.46 -23.01 -3.79 -6.99 9.40 19.14 17.71 19.86 8.23 10.24 7.48 8.33 6.66 60.00 8.98 -6.40 1.69 2.08 9.87 7.89 55.00 6.34 -9.18 0.97 1.67 20.64 15.70 na -0.38 -38.83 2.01 -3.78 5.50 6.00 -5.37 2.99 6.94 na -20.89 0.59 0.71 -2.89 -0.05 na 4.46 -24.71 -4.36 -11.92 -6.23 0.76 -0.66 -6.73 1.16 8.79 -0.71 3.34 2.69 4.44 3.10 0.90 4.72 6.46 5.14 9.07 Net Income Growth (%) 2015 2016 -0.07 -5.08 98.77 3.78 31.28 26.41 11.49 -51.37 65.44 -33.90 na na 6.32 -189.72 130.23 -3.09 -82.88 -620.78 -2.54 -35.92 -456.74 1.62 -13.75 156.00 -4.96 96.55 -10,257.13 4.12 na na 4.41 -36.38 -1.14 -18.72 -1,543.72 24.22 -5.93 71.92 -35.79 -8.31 na 30.23 -27.43 -865.96 -340.32 -9.58 160.36 -1,365.79 4.29 -153.54 746.16 -3.97 -13.85 40.96 0.51 60.30 -55.94 53.90 137.39 513.17 0.28 87.12 139.35 3.37 10.43 0.82 -0.01 201.21 -100.41 7.42 59.14 67.16 1.20 74.07 -61.13 -6.44 120.89 -817.91 4.83 -8.35 2.42 1.63 -10.18 -74.72 1.40 220.78 -72.71 -2.74 12.86 -130.16 Source: Bloomberg This list is sorted first by the lowest price-to-book ratio from the 109 stocks listed in the Bursa Malaysia Ace Market sector which had reported fourth quarter results. INTERPRETATION OF FUNDAMENTAL INDICATORS: Price to Book: The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's current market price to its book value. It is also sometimes known as a Market-to-Book ratio. The calculation can be performed in two ways, but the result should be the same each way. Earnings Per Share (EPS): The portion of a company's profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company's profitability. PE Ratio: The price-to-earnings ratio, or P/E ratio, is an equity valuation multiple. It is defined as market price per share divided by annual earnings per share. Revenue: The amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income. Net Income: A company's total earnings (or profit). Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses. Page 1 of 2
36. TA Securities A Member of the TA Group Support & Resistance 17 Mar 2017 No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Stock Code 0152 0133 0096 0140 0010 0153 0072 0028 0094 0105 0104 0034 0017 0020 0150 0165 0120 0109 0026 0069 0074 0171 0102 0035 0050 0177 0011 0161 0131 0181 Stock Name DGB SANICHI [S] NEXGRAM [S] STERPRO [S] IRIS [S] OVERSEA AT [S] SCOPE [S] INIX [S] ASIAPLY [S] GENETEC [S] MMAG [S] M3TECH [S] NETX [S] ASIABIO XOX [S] VIS [S] SCBUILD NOVAMSC [S] VIVOCOM [S] GOCEAN [S] PLABS CONNECT [S] OPCOM [S] SYSTECH [S] PASUKGB [S] BTECH [S] SCH [S] DGSB [S] AEMULUS Stop-loss Support 2 Support 1 Current priceResistanceResistance 1 Resistance 2 3 Reward SL S2 S1 17-Mar R1 R2 R3 Ratio 0.01 0.02 0.03 0.035 0.05 0.06 0.07 3.00 0.03 0.04 0.05 0.070 0.10 0.11 0.12 1.50 0.01 0.02 0.03 0.045 0.06 0.07 0.08 1.00 0.14 0.16 0.18 0.215 0.24 0.27 0.30 0.71 0.10 0.12 0.13 0.150 0.17 0.19 0.21 1.00 0.18 0.20 0.22 0.245 0.26 0.31 0.36 0.60 0.02 0.03 0.04 0.045 0.06 0.08 0.09 3.00 0.16 0.18 0.20 0.230 0.24 0.27 0.30 0.33 0.02 0.04 0.06 0.070 0.10 0.12 0.15 3.00 0.10 0.13 0.15 0.175 0.20 0.23 0.25 1.00 0.60 0.70 0.80 0.840 0.90 1.00 1.10 1.50 0.02 0.03 0.04 0.055 0.07 0.08 0.09 1.00 0.02 0.03 0.04 0.060 0.07 0.08 0.09 0.50 0.01 0.01 0.02 0.020 0.04 0.05 0.06 0.00 0.03 0.04 0.05 0.060 0.08 0.09 0.10 2.00 0.04 0.06 0.08 0.100 0.14 0.16 0.18 2.00 0.38 0.46 0.54 0.645 0.70 0.78 0.85 0.52 0.01 0.02 0.03 0.040 0.05 0.06 0.07 1.00 0.02 0.04 0.06 0.095 0.10 0.12 0.14 0.14 0.11 0.13 0.15 0.160 0.19 0.21 0.23 3.00 0.05 0.06 0.07 0.095 0.11 0.13 0.14 0.60 0.20 0.21 0.23 0.265 0.29 0.33 0.38 0.71 0.13 0.15 0.17 0.200 0.23 0.26 0.29 1.00 0.50 0.55 0.60 0.605 0.65 0.70 0.76 9.00 0.20 0.22 0.24 0.265 0.28 0.30 0.32 0.60 0.12 0.13 0.15 0.165 0.18 0.20 0.22 1.00 0.28 0.30 0.32 0.345 0.38 0.40 0.45 1.40 0.16 0.18 0.20 0.235 0.26 0.28 0.30 0.71 0.02 0.03 0.04 0.050 0.07 0.08 0.10 2.00 0.27 0.30 0.33 0.360 0.39 0.44 0.50 1.00 Call RSI BOW BOW BOW SOS BOW SOS BOW SOS BOW BOW BOW BOW SOS BOW BOW BOW SOS BOW BOW BOW BOW BOW SOS BOW SOS BOW BOW SOS BOW BOW 47.33 48.35 54.66 57.38 71.58 73.91 56.60 75.09 36.89 55.41 47.37 54.26 63.99 46.36 49.70 49.84 59.15 54.66 60.36 47.93 62.04 62.19 85.58 44.27 59.29 56.13 47.38 83.43 66.39 63.89 Volume (mn Shares) today 5d-avg 20d-avg 0.200 6.744 2.288 2.445 5.826 4.233 2.547 4.517 6.747 18.017 13.648 25.307 53.541 25.317 13.270 5.718 1.347 0.583 7.421 24.417 23.417 1.334 3.693 2.312 5.555 0.848 1.400 1.843 1.161 1.632 0.091 0.041 0.038 2.353 7.938 9.097 17.996 0.952 1.246 0.211 0.830 0.767 0.291 1.911 15.551 10.954 12.576 14.482 0.585 1.793 3.984 1.120 1.028 0.729 9.117 1.146 1.995 9.470 24.691 41.228 1.588 0.192 0.292 2.207 0.950 0.690 3.094 8.162 4.728 0.186 0.127 0.224 4.955 6.693 2.673 0.344 0.390 0.552 0.090 0.055 0.194 10.504 7.758 5.180 4.640 1.438 1.207 0.978 2.546 3.347 Stochastics %K %D 50.0 50.0 50.0 66.7 50.0 38.9 25.0 41.7 77.8 85.9 84.6 85.6 66.7 77.8 83.3 84.4 0.0 33.3 100.0 66.7 42.9 23.8 50.0 33.3 66.7 88.9 0.0 33.3 100.0 100.0 50.0 50.0 21.4 33.9 100.0 83.3 100.0 66.7 33.3 19.4 75.0 75.0 100.0 61.1 87.5 86.3 25.0 41.7 55.6 57.8 100.0 77.8 16.7 16.7 90.9 87.0 100.0 83.3 66.7 65.6 Sources: Bloomberg, TA Securities 24 Mar 2017 No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Stock Code 0152 0133 0096 0140 0010 0153 0072 0028 0094 0105 0104 0034 0017 0020 0150 0165 0120 0109 0026 0069 0074 0171 0102 0035 0050 0177 0011 0161 0131 0181 Stock Stop-loss Support 2 Support 1 Current priceResistanceResistance 1 Resistance 2 3 Reward Name SL S2 S1 24-Mar R1 R2 R3 Ratio DGB 0.01 0.02 0.03 0.045 0.05 0.06 0.07 0.33 SANICHI [S] 0.03 0.04 0.05 0.080 0.10 0.11 0.12 0.67 NEXGRAM [S] 0.01 0.02 0.03 0.050 0.06 0.07 0.08 0.50 STERPRO [S] 0.14 0.16 0.18 0.210 0.24 0.27 0.30 1.00 IRIS [S] 0.10 0.12 0.13 0.150 0.17 0.19 0.21 1.00 OVERSEA 0.18 0.20 0.22 0.225 0.26 0.31 0.36 7.00 AT [S] 0.02 0.03 0.04 0.045 0.06 0.08 0.09 3.00 SCOPE [S] 0.16 0.18 0.20 0.240 0.24 0.27 0.30 0.00 INIX [S] 0.02 0.04 0.06 0.085 0.10 0.12 0.15 0.60 ASIAPLY [S] 0.10 0.13 0.15 0.185 0.20 0.23 0.25 0.43 GENETEC [S] 0.60 0.70 0.80 0.840 0.90 1.00 1.10 1.50 MMAG [S] 0.02 0.03 0.04 0.050 0.07 0.08 0.09 2.00 M3TECH [S] 0.02 0.03 0.04 0.065 0.07 0.08 0.09 0.20 NETX [S] 0.01 0.01 0.02 0.025 0.04 0.05 0.06 3.00 ASIABIO 0.03 0.04 0.05 0.060 0.08 0.09 0.10 2.00 XOX [S] 0.04 0.06 0.08 0.105 0.14 0.16 0.18 1.40 VIS [S] 0.38 0.46 0.54 0.615 0.70 0.78 0.85 1.13 SCBUILD 0.01 0.02 0.03 0.035 0.05 0.06 0.07 3.00 NOVAMSC [S] 0.02 0.04 0.06 0.090 0.10 0.12 0.14 0.33 VIVOCOM [S] 0.11 0.13 0.15 0.160 0.19 0.21 0.23 3.00 GOCEAN [S] 0.05 0.06 0.07 0.095 0.11 0.13 0.14 0.60 PLABS 0.20 0.21 0.23 0.285 0.29 0.33 0.38 0.09 CONNECT [S] 0.15 0.17 0.19 0.240 0.26 0.29 0.32 0.40 OPCOM [S] 0.45 0.50 0.55 0.595 0.65 0.70 0.76 1.22 SYSTECH [S] 0.22 0.24 0.26 0.285 0.30 0.32 0.34 0.60 PASUKGB [S] 0.12 0.13 0.15 0.165 0.18 0.20 0.22 1.00 BTECH [S] 0.28 0.30 0.32 0.355 0.38 0.40 0.45 0.71 SCH [S] 0.16 0.18 0.20 0.245 0.26 0.28 0.30 0.33 DGSB [S] 0.02 0.03 0.04 0.065 0.07 0.08 0.10 0.20 AEMULUS 0.27 0.30 0.33 0.355 0.39 0.44 0.50 1.40 Call RSI BOW BOW BOW SOS BOW SOS BOW SOS BOW BOW BOW BOW SOS BOW BOW BOW SOS BOW BOW BOW BOW BOW SOS BOW SOS BOW BOW SOS BOW BOW 76.78 59.56 61.02 53.08 64.24 58.82 52.21 68.13 58.51 63.40 46.80 46.18 62.15 53.73 50.29 54.42 48.07 46.25 52.50 48.68 56.64 68.78 93.12 40.52 63.08 55.56 53.19 75.37 79.49 56.25 Volume (mn Shares) today 5d-avg 20d-avg 7.971 11.107 4.807 22.726 22.520 9.105 12.588 16.683 10.235 19.199 14.081 20.092 5.110 21.644 16.059 0.549 1.768 0.961 36.435 37.489 32.022 0.869 3.617 3.086 4.838 3.012 1.355 18.482 2.046 1.570 0.032 0.057 0.047 2.116 4.169 9.824 3.188 11.519 3.848 3.791 13.900 3.958 2.463 3.349 10.323 68.949 17.508 13.411 16.716 4.409 4.197 0.401 1.656 0.962 1.885 6.481 2.756 44.854 22.674 31.184 12.234 2.334 0.762 4.376 1.775 0.997 6.502 11.900 7.627 0.088 0.090 0.183 9.518 11.160 5.127 2.344 0.550 0.568 0.106 0.157 0.208 10.221 12.221 7.999 9.989 18.442 5.552 2.704 1.674 2.630 Stochastics %K %D 75.0 80.6 75.0 66.7 100.0 83.3 20.0 20.0 75.0 83.3 50.0 57.7 33.3 66.7 45.5 62.2 100.0 88.9 80.0 65.6 33.3 66.7 50.0 66.7 75.0 91.7 50.0 50.0 66.7 55.6 66.7 55.6 40.4 66.7 50.0 50.0 50.0 44.4 33.3 22.2 50.0 46.7 80.0 80.0 100.0 97.6 0.0 25.0 42.1 38.2 50.0 27.8 60.0 28.3 60.0 77.3 75.0 83.3 28.6 42.9 Sources: Bloomberg, TA Securities Legend: Reward Ratio = (R1 - CP)/ (CP - S1) where CP = Current Price Call: BUY = outright BUY at current price BOW = Buy on weakness towards S1 TBUY = Trading or Speculative BUY at current price LTBUY = Long-Term BUY at current price SELL = outright SELL at current price SOS = Sell on strength towards R1 NEUTRAL = sideline, not attractive to buy or sell TP = Take Profit Upgrade in price levels shaded dark green and bold Downgrade in price levels lightly shaded RSI: The Relative Strength Index (RSI) is used to measure the velocity of a security's price movement to identify overbought and oversold conditions. RSI reading below 30 indicates an oversold condition, while RSI value greater than 70 indicates overbought condition Stochastics: measures the velocity of a security's price movement to identify overbought and oversold conditions. The indicator measures current price relative to highs and lows over a time period. %K = 100*Closing Range/Total Range %D = N-period moving average of %K where N is the %D period parameter. Page 2 of 2
37. 3131 TA Securities T e c h n i c a l V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Small Cap Stock Watch Malaysia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167-9607 stsoo@ta.com.my www.taonline.com.my Report Description: The Weekly Small Cap Stock Watch is a compilation of selected stocks aimed at providing trading ideas and guide for momentum trading. The following is derived from the complete listing of Main Market stocks of more than 800 counters currently in Bursa Malaysia. This recommendation is based on combination of fundamental and technical analysis. List of 30 Small Cap Stocks No Code 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 3018 0118 5155 4235 2429 9741 7382 6998 4057 7315 3905 1902 7123 2097 3778 3395 0047 9113 4758 6548 8486 8672 4359 8346 7099 2453 1619 7366 7016 2186 Name Ticker OLYMPIA TRIVE [S] XINQUAN LIONIND [S] TANCO [S] TECNIC GLBHD [S] BINTAI ASIAPAC [S] AHB [S] MULPHA PINEPAC [S] PWORTH [S] EASTLND [S] MELEWAR [S] BJCORP PERISAI [S] SANBUMI [S] ANCOM MPCORP LIONFIB [S] KAMDAR TURIYA [S] PRKCORP [S] ATTA [S] KLUANG DRBHCOM [S] SCOMIEN CHUAN [S] KUCHAI 3018 MK EQUITY 0118 MK EQUITY 5155 MK EQUITY 4235 MK EQUITY 2429 MK EQUITY 9741 MK EQUITY 7382 MK EQUITY 6998 MK EQUITY 4057 MK EQUITY 7315 MK EQUITY 3905 MK EQUITY 1902 MK EQUITY 7123 MK EQUITY 2097 MK EQUITY 3778 MK EQUITY 3395 MK EQUITY 0047 MK EQUITY 9113 MK EQUITY 4758 MK EQUITY 6548 MK EQUITY 8486 MK EQUITY 8672 MK EQUITY 4359 MK EQUITY 8346 MK EQUITY 7099 MK EQUITY 2453 MK EQUITY 1619 MK EQUITY 7366 MK EQUITY 7016 MK EQUITY 2186 MK EQUITY Current Closing Market Cap Price (RM) (RMmn) 122.81 140.34 50.29 558.27 45.17 42.82 132.89 64.71 158.81 28.01 910.54 41.95 141.25 52.82 67.66 1,901.48 81.93 40.75 94.68 41.71 134.42 71.28 43.46 204.00 74.13 203.41 2,629.20 140.20 88.55 148.50 0.16 0.20 0.10 0.83 0.11 0.91 0.64 0.23 0.18 0.20 0.26 0.27 0.19 0.23 0.32 0.38 0.07 0.19 0.45 0.16 0.56 0.39 0.21 2.05 1.18 3.22 1.36 0.41 0.55 1.20 Volume (million) 3.09 2.52 0.46 3.91 3.97 0.16 0.05 0.11 0.24 0.12 1.98 0.02 111.25 0.08 0.54 11.04 2.73 0.18 0.34 0.10 0.13 0.01 0.06 0.06 0.27 0.00 1.74 0.20 0.09 0.13 Price to Book EPS (RM) PE Ratio (%) 3Q16 4Q16 3Q16 4Q16 2015 2016 0.03 1.35 0.14 0.10 0.22 0.19 0.46 0.19 0.25 0.25 0.23 0.27 0.26 0.29 0.26 0.22 0.43 0.28 0.28 0.23 0.17 0.29 0.29 0.38 0.30 0.31 0.33 0.35 0.32 0.33 0.02 0.12 0.13 0.14 0.15 0.18 0.20 0.21 0.22 0.22 0.22 0.23 0.23 0.24 0.24 0.25 0.25 0.26 0.27 0.27 0.27 0.28 0.29 0.29 0.30 0.30 0.30 0.30 0.30 0.32 -0.01 0.00 -0.05 -0.16 -0.01 0.00 0.38 -0.04 0.03 0.00 -0.01 -0.08 0.00 0.00 0.02 0.00 -0.24 -0.01 0.00 -0.01 -0.24 -0.01 0.00 -0.11 0.00 0.07 -0.10 0.00 0.01 0.20 0.02 -0.02 -1.62 -0.97 0.00 0.00 -0.04 -0.06 0.06 0.00 0.03 -0.07 0.00 0.00 0.00 -0.07 0.01 -0.03 -0.02 -0.26 -1.47 0.00 0.00 0.11 -0.06 0.00 -0.41 -0.02 0.01 -0.25 6.58 na 1.12 na na na na 5.24 0.60 na 3.36 na 16.00 8.68 na 2.40 na na 43.00 na na na 42.59 3.32 8.02 40.52 12.69 313.64 na 6.95 Operating Margin (%) 3Q16 4Q16 Return on Assets (%) 3Q16 4Q16 Revenue (RMmn) 3Q16 4Q16 Net Income (RMmn) 2015 2016 Net Income Growth (%) 2015 2016 37.50 -9.73 -5.39 -3.76 0.27 31.82 33.03 19.45 2.04 735.70 -89.49 na -9.29 -1,159.06 -20.60 -47.49 2.41 1.51 -16.07 -26.16 na -62.82 na 8.61 -464.83 3.79 -30.58 106.90 129.74 250.54 -542.10 41.83 -316.38 na -5.12 2.35 -5.08 -21.79 697.72 647.73 -254.82 -796.48 49.63 -212.56 na -18.44 -25.02 -4.21 -3.20 3.47 3.28 -14.88 -8.72 49.07 41.38 17.53 na na 1.17 9.88 0.00 0.00 97.81 2.49 395.89 -97.46 2.27 8,539.76 -741.40 10.27 9.92 0.93 1.76 3.86 70.08 -70.39 1,715.32 na -4.50 -0.17 -3.54 -7.41 121.41 152.45 6.04 -36.08 501.00 -697.45 2.55 73.02 134.79 31.51 4.64 47.73 57.84 376.59 73.85 822.27 -80.39 17.54 12.32 11.25 na na 4.50 4.51 na 1.83 na na 35.71 -11.32 2.57 0.19 0.31 334.69 533.92 165.12 16.80 33.00 -89.83 na -183.68 -208.99 -2.70 -4.35 5.28 5.26 -7.09 -17.56 73.42 -147.48 50.00 14.71 16.05 0.30 0.25 24.75 48.76 2.39 1.17 118.02 -51.04 na 7.79 -12.91 -8.07 -1.76 7.54 5.32 8.76 -5.04 30.73 -157.47 9.18 7.05 9.50 na na 151.77 172.12 -29.55 8.23 -139.63 127.87 na 5.85 9.82 -0.35 -0.77 2,168.23 2,483.66 890.58 -177.22 698.03 -119.90 na -289.56 129.59 -40.36 -13.26 38.91 38.27 -706.32 -289.78 -5,245.87 58.97 na -9.05 -47.41 -8.42 -10.53 13.55 11.67 -13.12 -10.62 22.10 19.07 na 1.82 2.55 0.28 -0.77 331.67 370.85 2.17 -6.99 -77.36 -422.71 na -48.43 -13.18 -3.93 -16.34 2.87 10.17 -15.98 -84.27 48.67 -427.21 na 2.64 3.64 -8.66 -45.55 209.24 95.21 -99.97 -387.20 59.91 -287.32 41.45 -4.55 5.14 -1.71 0.43 34.67 41.21 -3.23 1.50 -145.30 146.41 19.05 25.88 16.58 1.00 1.03 5.86 4.48 1.23 1.91 104.54 55.65 na -21.14 16.34 5.06 -1.13 26.26 65.38 80.08 -10.86 106.41 -113.56 na 0.89 -9.13 2.75 -1.54 30.16 32.61 4.00 -2.43 36.75 -160.77 65.22 -46.06 54.25 0.48 0.26 2.91 10.45 4.84 2.92 -42.62 -39.69 na -2.37 -22.19 -0.10 -2.17 3,335.99 2,632.78 314.60 -915.04 -31.93 -390.86 na 6.26 -46.58 0.51 -0.19 49.48 35.67 0.38 -1.84 101.00 -587.57 8.04 2.82 2.83 1.08 1.98 158.68 164.48 -1.52 10.07 -107.12 761.82 na -64.14 93.30 -2.99 -9.60 0.30 4.39 23.68 -44.98 -57.25 -289.94 Source: Bloomberg This list is sorted first by the lowest price-to-book ratio from the Main Market which had reported fourth quarter results and excludes the FBM100 stocks. INTERPRETATION OF FUNDAMENTAL INDICATORS: Price to Book: The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's current market price to its book value. It is also sometimes known as a Market-to-Book ratio. Earnings Per Share (EPS): The portion of a company's profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company's profitability. PE Ratio: The price-to-earnings ratio, or P/E ratio, is an equity valuation multiple. It is defined as market price per share divided by annual earnings per share. Revenue: The amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income. Net Income: A company's total earnings (or profit). Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses. Page 1 of 2
38. TA Securities A Member of the TA Group Support & Resistance 17 Mar 2017 No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Stock Code 3018 0118 5155 4235 2429 9741 7382 6998 4057 7315 3905 1902 7123 2097 3778 3395 0047 9113 4758 6548 8486 8672 4359 8346 7099 2453 1619 7366 7016 2186 Stock Stop-loss Support 2 Support 1 Current price Resistance 1 Resistance 2 Resistance 3 Reward Name SL S2 S1 17-Mar R1 R2 R3 Ratio OLYMPIA 0.08 0.09 0.10 0.140 0.15 0.16 0.17 0.25 TRIVE [S] 0.06 0.08 0.10 0.145 0.15 0.19 0.23 0.11 XINQUAN 0.03 0.05 0.07 0.095 0.11 0.13 0.15 0.60 LIONIND [S] 0.60 0.66 0.72 0.840 0.98 1.10 1.22 1.17 TANCO [S] 0.04 0.05 0.06 0.085 0.10 0.11 0.12 0.60 TECNIC 0.68 0.77 0.85 0.900 1.02 1.13 1.30 2.40 GLBHD [S] 0.51 0.56 0.59 0.615 0.67 0.71 0.76 2.20 BINTAI 0.18 0.19 0.20 0.240 0.28 0.30 0.33 1.00 ASIAPAC [S] 0.08 0.10 0.12 0.170 0.18 0.20 0.22 0.20 AHB [S] 0.12 0.14 0.16 0.185 0.20 0.22 0.24 0.60 MULPHA 0.20 0.23 0.25 0.285 0.34 0.36 0.38 1.57 PINEPAC [S] 0.19 0.23 0.26 0.275 0.34 0.38 0.42 4.33 PWORTH [S] 0.15 0.17 0.19 0.215 0.24 0.26 0.28 1.00 EASTLND [S] 0.15 0.17 0.20 0.235 0.26 0.30 0.34 0.71 MELEWAR [S] 0.22 0.24 0.26 0.320 0.34 0.39 0.42 0.33 BJCORP 0.31 0.33 0.35 0.390 0.40 0.42 0.44 0.25 PERISAI [S] 0.02 0.04 0.06 0.070 0.10 0.12 0.14 3.00 SANBUMI [S] 0.11 0.13 0.15 0.185 0.20 0.22 0.24 0.43 ANCOM 0.36 0.38 0.40 0.460 0.48 0.52 0.56 0.33 MPCORP 0.06 0.08 0.10 0.140 0.16 0.19 0.22 0.50 LIONFIB [S] 0.45 0.49 0.54 0.595 0.62 0.66 0.70 0.45 KAMDAR 0.22 0.26 0.30 0.360 0.44 0.52 0.60 1.33 TURIYA [S] 0.12 0.14 0.16 0.190 0.21 0.23 0.25 0.67 PRKCORP [S] 1.60 1.80 1.90 2.080 2.28 2.48 2.67 1.11 ATTA [S] 0.80 0.90 1.00 1.130 1.18 1.28 1.38 0.38 KLUANG 2.51 2.79 3.02 3.220 3.54 3.70 4.00 1.60 DRBHCOM [S] 1.08 1.18 1.27 1.370 1.58 1.77 1.90 2.10 SCOMIEN 0.28 0.33 0.38 0.415 0.48 0.53 0.62 1.86 CHUAN [S] 0.45 0.48 0.50 0.545 0.61 0.66 0.72 1.44 KUCHAI 1.05 1.10 1.15 1.200 1.30 1.36 1.43 2.00 Call RSI SOS SOS SELL SELL SOS BOW BOW SOS BOW BOW SOS SOS SOS BOW SELL SELL BOW SOS SOS BOW SOS BOW SOS BOW SOS BOW BOW BOW SOS BOW 72.81 75.61 54.55 77.44 50.29 49.13 48.07 60.53 62.21 63.15 67.18 56.32 76.76 55.75 43.43 55.55 41.22 57.01 76.32 56.70 60.77 62.51 56.64 67.18 80.24 51.94 56.56 58.47 65.85 64.04 Call RSI SOS SELL SELL SELL SOS BOW BOW SOS BOW BOW BOW SELL SELL BOW SELL SELL BOW SOS SOS SOS SOS BOW SOS BOW SELL BOW BOW BOW SOS BOW 61.97 84.38 52.58 70.45 66.58 50.16 59.33 46.29 60.73 65.13 46.88 45.51 62.28 53.72 43.84 46.17 41.66 57.61 63.40 60.29 52.28 67.19 61.96 58.64 71.24 51.27 48.98 52.14 57.77 51.79 Volume (mn Shares) today 5d-avg 20d-avg 61.178 4.703 2.938 47.868 25.292 9.880 14.197 2.135 1.606 8.945 14.396 10.704 8.212 6.528 4.213 6.357 0.297 0.175 0.216 0.097 0.167 1.667 0.410 0.566 6.870 2.313 1.178 1.785 0.128 0.154 8.577 10.855 4.742 0.095 0.021 0.078 59.272 170.450 56.464 0.569 0.106 0.160 0.993 0.605 0.837 15.922 16.921 18.337 11.262 1.319 7.770 0.182 0.412 0.594 2.032 0.654 0.424 0.028 0.148 0.061 0.103 0.568 0.218 0.010 0.004 0.009 0.315 0.092 0.122 0.040 0.042 0.012 0.221 0.274 0.169 0.005 0.003 0.002 2.981 2.436 7.737 0.507 0.291 0.715 0.470 0.568 0.384 0.020 0.051 0.027 Stochastics %K %D 72.7 79.8 100.0 76.7 40.0 13.3 88.0 90.4 0.0 22.2 4.0 57.9 40.0 46.7 71.4 65.1 80.0 60.0 71.4 68.3 55.6 57.9 100.0 88.9 85.0 87.6 66.7 77.8 83.3 55.6 25.0 35.0 0.0 0.0 33.3 44.4 93.8 87.3 100.0 73.3 68.0 75.5 100.0 88.9 75.0 75.0 83.3 88.2 88.2 89.8 80.0 69.3 66.7 48.9 54.5 39.4 75.0 52.8 100.0 66.7 Volume (mn Shares) today 5d-avg 20d-avg 40.391 108.033 29.148 86.985 44.645 20.234 5.491 6.150 2.987 0.774 5.731 11.195 22.597 37.979 11.919 0.589 4.072 1.126 0.161 0.142 0.155 0.223 0.758 0.601 2.685 2.632 1.573 0.057 0.529 0.249 2.802 7.202 6.400 0.013 0.108 0.078 24.090 49.645 68.255 0.324 0.237 0.129 0.237 0.897 0.833 13.203 18.002 18.444 17.524 9.958 8.181 0.392 0.344 0.569 0.213 0.631 0.456 0.030 0.149 0.096 0.165 0.059 0.220 0.045 0.011 0.009 0.020 0.462 0.165 0.013 0.025 0.018 0.094 0.256 0.224 0.005 0.003 0.003 5.400 8.543 7.107 0.170 0.358 0.561 0.049 0.324 0.338 0.010 0.023 0.027 Stochastics %K %D 47.6 57.1 95.0 93.4 40.0 26.7 35.7 60.4 66.7 74.1 11.8 12.4 100.0 86.7 16.7 27.8 75.0 65.0 83.3 77.8 18.2 24.2 0.0 26.7 53.3 63.6 57.1 52.4 45.5 57.6 0.0 6.7 33.3 44.4 40.0 33.3 55.6 42.4 77.8 70.4 6.7 28.0 100.0 87.5 44.4 40.7 59.1 67.7 64.5 77.1 44.4 73.1 16.7 17.7 37.5 50.0 54.5 57.6 40.0 40.0 Sources: Bloomberg, TA Securities 24 Mar 2017 No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Stock Code 3018 0118 5155 4235 2429 9741 7382 6998 4057 7315 3905 1902 7123 2097 3778 3395 0047 9113 4758 6548 8486 8672 4359 8346 7099 2453 1619 7366 7016 2186 Stock Stop-loss Support 2 Support 1 Current price Resistance 1 Resistance 2 Resistance 3 Reward Name SL S2 S1 24-Mar R1 R2 R3 Ratio OLYMPIA 0.10 0.11 0.12 0.155 0.17 0.18 0.20 0.43 TRIVE [S] 0.10 0.12 0.14 0.195 0.23 0.25 0.28 0.64 XINQUAN 0.03 0.05 0.07 0.095 0.11 0.13 0.15 0.60 LIONIND [S] 0.60 0.66 0.72 0.825 0.98 1.10 1.22 1.48 TANCO [S] 0.06 0.07 0.08 0.110 0.12 0.13 0.14 0.33 TECNIC 0.68 0.77 0.85 0.905 1.02 1.13 1.30 2.09 GLBHD [S] 0.51 0.56 0.59 0.635 0.67 0.71 0.76 0.78 BINTAI 0.18 0.19 0.20 0.225 0.28 0.30 0.33 2.20 ASIAPAC [S] 0.08 0.10 0.12 0.175 0.18 0.20 0.22 0.09 AHB [S] 0.12 0.14 0.16 0.195 0.20 0.22 0.24 0.14 MULPHA 0.20 0.23 0.25 0.260 0.30 0.32 0.34 4.00 PINEPAC [S] 0.19 0.23 0.26 0.270 0.30 0.34 0.38 3.00 PWORTH [S] 0.13 0.15 0.17 0.185 0.22 0.24 0.26 2.33 EASTLND [S] 0.15 0.17 0.20 0.230 0.26 0.30 0.34 1.00 MELEWAR [S] 0.22 0.24 0.26 0.320 0.34 0.39 0.42 0.33 BJCORP 0.31 0.33 0.35 0.380 0.40 0.42 0.44 0.67 PERISAI [S] 0.02 0.04 0.06 0.065 0.08 0.10 0.12 3.00 SANBUMI [S] 0.11 0.13 0.15 0.185 0.20 0.22 0.24 0.43 ANCOM 0.36 0.38 0.40 0.450 0.48 0.52 0.56 0.60 MPCORP 0.08 0.10 0.12 0.160 0.19 0.22 0.25 0.75 LIONFIB [S] 0.45 0.49 0.54 0.560 0.62 0.66 0.70 3.00 KAMDAR 0.22 0.26 0.30 0.385 0.44 0.52 0.60 0.65 TURIYA [S] 0.12 0.14 0.16 0.205 0.21 0.23 0.25 0.11 PRKCORP [S] 1.60 1.80 1.90 2.050 2.28 2.48 2.67 1.53 ATTA [S] 0.90 1.00 1.10 1.180 1.28 1.38 1.48 1.25 KLUANG 2.51 2.79 3.02 3.220 3.54 3.70 4.00 1.60 DRBHCOM [S] 1.08 1.18 1.27 1.360 1.58 1.77 1.90 2.44 SCOMIEN 0.28 0.33 0.38 0.405 0.48 0.53 0.62 3.00 CHUAN [S] 0.45 0.48 0.50 0.545 0.61 0.66 0.72 1.44 KUCHAI 1.05 1.10 1.15 1.200 1.30 1.36 1.43 2.00 Sources: Bloomberg, TA Securities Legend: Reward Ratio = (R1 - CP)/ (CP - S1) Where CP = Current Price Call: BUY = outright BUY at current price BOW = Buy on weakness towards S1 TBUY = Trading or Speculative BUY at current price LTBUY = Long-Term BUY at current price SELL = outright SELL at current price SOS = Sell on strength towards R1 NEUTRAL = sideline, not attractive to buy or sell TP = Take Profit Upgrade in price levels shaded dark Green and bold Downgrade in price levels lightly shaded RSI: The Relative Strength Index (RSI) is used to measure the velocity of a security's price movement to identify overbought and oversold conditions. RSI reading below 30 indicates an oversold condition, while RSI value greater than 70 indicates overbought condition Stochastics: measures the velocity of a security's price movement to identify overbought and oversold conditions. The indicator measures current price relative to highs and lows over a time period. %K = 100*Closing Range/Total Range %D = N-period moving average of %K where N is the %D period parameter. Page 2 of 2
39. T e c h n i c a l TA Securities V i e w Monday , March 27, 2017 FBM KLCI: 1,745.75 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Stock Screen Malaysia End Day Census of 17.03.2017 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Report Description: The Weekly Stock Screen is a retail product which can be a very useful guide for momentum trading and trading ideas. The following list is derived from the screening of more than 1000 stocks currently listed on Bursa Malaysia to identify: the top 20 breakout, 20 breakdown, and 30 ‘potential’ breakout stocks which just climbed above the middle Bollinger band, with potential to appreciate toward the upper Bollinger band .This report also includes the top 20 overbought, and top 20 oversold stocks. *Note: To qualify in the list below, the first sorting criteria is stock price must have just climbed or stayed ABOVE the middle Bollinger Band, followed by a second criteria that trading volume for the day must be significantly strong. This is a good watch list for momentum traders looking for short-term BUY ideas, as they are laggards with good upside potential towards the upper Bollinger band or higher to TAKE PROFIT/SELL. Caveat: Some stocks may continue to stay range bound and trade sideways, hence traders should refer to their respective daily charts to spot accumulation (volume growth) or breakout patterns. [MIDDLE BOLLINGER RANGEBOUND] List of 30 Potential Breakout Stocks (Short-term BUY for upside toward Upper Bollinger Band or higher to TAKE PROFIT/SELL) No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Stock Name Price CHINA AUTOMOBILE XIDELANG HOLDING BORNEO OIL BHD XOX BHD METRONIC GLOBAL AT SYSTEMATIZATI SANICHI TECHNOLO YFG BHD BIOALPHA HOLDING MNC WIRELESS BHD NEXGRAM HOLDINGS GREEN OCEAN CORP SMTRACK BHD MQ TECHNOLOGY BH PDZ HOLDINGS BHD SINOTOP HOLDING MK LAND HLDGS XINGQUAN INTERNA K-STAR SPORTS LT DBE GURNEY RESOU GLOBALTEC FORMAT SILVER RIDGE HO WAH GENTING PARKSON HOLDINGS RGB INTERNATIONA CHINA OUHUA WINE NETX HOLDINGS BH KAREX BHD SUMATEC RESOURCE OPENSYS M BHD 0.03 0.04 0.19 0.11 0.08 0.05 0.08 0.06 0.26 0.07 0.05 0.10 0.05 0.05 0.07 0.12 0.32 0.10 0.07 0.04 0.05 0.22 0.06 0.65 0.29 0.04 0.03 2.12 0.08 0.36 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.02 0.03 0.03 0.18 0.10 0.07 0.04 0.07 0.06 0.25 0.06 0.04 0.09 0.04 0.05 0.07 0.12 0.31 0.09 0.06 0.04 0.05 0.21 0.06 0.64 0.28 0.03 0.02 2.11 0.07 0.35 0.03 0.04 0.19 0.11 0.08 0.05 0.08 0.06 0.27 0.07 0.05 0.10 0.05 0.06 0.07 0.13 0.33 0.10 0.07 0.05 0.05 0.24 0.07 0.66 0.30 0.04 0.03 2.26 0.08 0.36 53.33 56.57 60.49 54.42 47.79 52.21 59.56 58.90 59.45 52.43 61.02 56.64 55.45 51.49 53.77 49.69 54.26 52.58 56.69 50.93 53.93 55.35 49.89 52.51 45.93 65.29 53.73 43.68 50.22 51.63 0.03 0.03 0.18 0.10 0.07 0.05 0.08 0.06 0.25 0.06 0.05 0.09 0.04 0.05 0.07 0.12 0.32 0.09 0.07 0.04 0.05 0.22 0.06 0.64 0.29 0.03 0.02 2.07 0.07 0.35 0.03 0.03 0.17 0.10 0.08 0.04 0.07 0.06 0.24 0.06 0.04 0.09 0.04 0.05 0.07 0.12 0.31 0.09 0.06 0.04 0.05 0.20 0.06 0.65 0.30 0.03 0.02 2.20 0.08 0.36 0.03 0.03 0.17 0.10 0.08 0.04 0.07 0.05 0.23 0.06 0.04 0.09 0.04 0.05 0.07 0.12 0.30 0.09 0.06 0.04 0.05 0.17 0.06 0.64 0.30 0.03 0.02 2.29 0.08 0.36 0.03 0.16 0.09 0.07 0.03 0.07 0.05 0.22 0.06 0.04 0.08 0.03 0.04 0.06 0.11 0.29 0.08 0.05 0.03 0.04 0.18 0.05 0.63 0.27 0.02 0.02 1.97 0.07 0.34 Vol 116,822,500 70,437,100 70,387,400 68,948,700 53,242,000 36,435,300 22,726,200 18,547,000 14,246,400 13,735,000 12,587,700 12,234,000 11,185,900 10,654,700 8,829,600 7,960,300 5,897,100 5,491,000 5,315,800 5,274,800 5,227,000 4,928,300 4,315,700 4,226,700 4,140,100 3,972,600 3,791,000 3,449,000 3,342,800 3,299,200 20-day avg vol 10,061,490 5,366,780 74,923,500 15,217,920 13,348,680 31,636,590 10,172,280 4,041,675 23,691,410 10,631,080 10,800,780 1,332,770 1,893,120 11,262,480 6,773,115 2,292,040 2,089,770 3,256,205 742,645 24,327,870 7,052,785 3,610,205 19,048,450 2,267,130 16,422,120 749,390 4,103,720 3,854,025 13,431,930 2,767,510 Raw data sourced from Bloomberg INTERPRETATION OF TECHNICAL INDICATORS: Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day, and negative if it remains below this average. 14-day RSI: A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30-day SMA should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day SMA is bearish and imply further near-term downside risk. Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. buy when price touches the middle band and sell when price touches the upper band. Momentum traders will buy on price breaks above the upper band, and sell when price breaks below the lower band. Alternatively, a sharp move that originates at one band tends to go all the way to the other band, a useful observation when projecting price targets. Page 1 of 3
40. TA Securities A Member of the TA Group *Note: To qualify in the breakout list below, the first sorting criteria is stock price must close ABOVE the upper Bollinger Band, followed by a second criteria that trading volume for the day must be significantly higher than the 20-day average volume, which signal a bullish breakout. Caveat: We would caution momentum traders that a highly overbought 14-day RSI reading (> 80) and share price pullback BELOW the upper Bollinger Band are early warning signals to exit buy breakout trades. [UPPER BOLLINGER BREAKOUT] Top 20 Breakout Stocks (Generally BULLISH, but can be short-term TAKE PROFIT/SELL guide) No Stock Name Price GOPENG BHD 1.30 ORION IXL BHD 0.28 3 1.11 ASIA BRANDS BHD 4 SEDANIA INNOVAT 0.32 5 EA HOLDINGS 0.08 6 0.09 CHINA STATIONERY 7 SAUDEE GROUP BHD 0.36 8 ASIA POLY HOLDIN 0.19 9 0.26 BOON KOON GROUP 10 PUB PACKAGES HLD 1.27 11 TFP SOLUTIONS 0.16 12 0.70 HSS ENGINEERS BH 13 EITA RESOURCES 1.55 14 CAB CAKARAN CORP 2.00 15 0.44 THETA EDGE BHD 16 KAMDAR GROUP M B 0.39 17 XINGHE HOLDINGS 0.05 18 2.25 ECONPILE HOLDING 19 EFFICIENT E-SOLU 0.44 20 1.12 KUMPULAN H&L HIG Raw data sourced from Bloomberg 1 2 RSI Bollinger Band Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 1.16 0.17 0.84 0.28 0.05 0.06 0.31 0.16 0.09 0.90 0.12 0.51 1.19 1.53 0.30 0.31 0.03 2.07 0.14 0.86 1.22 0.21 0.97 0.29 0.06 0.07 0.33 0.17 0.16 1.05 0.14 0.58 1.32 1.73 0.36 0.34 0.04 2.15 0.28 0.96 1.28 0.25 1.10 0.30 0.07 0.08 0.35 0.18 0.23 1.20 0.15 0.65 1.45 1.93 0.41 0.38 0.04 2.23 0.41 1.06 57.28 80.03 72.17 68.71 67.18 69.14 71.23 63.40 90.13 81.85 62.54 78.86 80.54 79.70 70.79 67.19 63.91 78.80 73.58 70.74 1.23 0.22 0.96 0.29 0.06 0.07 0.33 0.17 0.18 1.10 0.14 0.60 1.35 1.78 0.37 0.36 0.04 2.18 0.30 0.98 1.21 0.21 0.98 0.29 0.06 0.07 0.33 0.17 0.15 1.02 0.13 0.57 1.28 1.71 0.36 0.33 0.04 2.10 0.27 0.98 1.27 0.21 0.98 0.29 0.06 0.07 0.32 0.17 0.15 0.99 0.13 0.53 1.24 1.67 0.33 0.33 0.04 2.05 0.26 1.00 Vol 84,000 33,238,800 33,500 21,974,200 153,195,100 15,352,000 899,100 18,482,000 44,679,400 6,378,100 209,100 20,583,900 2,325,900 3,936,700 671,300 45,000 43,191,700 6,453,400 75,874,800 11,300 20-day avg vol 5,295 2,374,600 2,490 2,290,390 16,009,210 1,746,245 111,080 2,396,170 5,995,600 885,515 29,430 2,915,385 352,825 635,510 113,300 8,740 8,536,830 1,285,090 15,136,570 2,355 *Note: As for the top 20 breakdown list below, the sole sorting criteria is stock price must close significantly BELOW the lower Bollinger Band, with the largest distance from the lower band at the top of the table, signaling a severe sell-off which is bearish. Caveat: A stock should bottom out if share price moves ABOVE the falling lower Bollinger Band, which can be a good buy signal for technical rebound upside after the sharp sell-off. [LOWER BOLLINGER BREAKDOWN] Top 20 Breakdown Stocks (Generally BEARISH, but can be short-term BUY guide) No Stock Name Price IMASPRO CORP BHD 1.95 HEVEABOARD BHD 1.42 3 3.15 LII HEN IND BHD 4 LEADER STEEL HLD 0.43 5 PESTECH INTL BHD 1.69 6 0.47 MEDA INC BHD 7 OPCOM HOLDINGS 0.60 8 ENG KAH CORP BHD 1.44 9 1.05 COMPUTER FORMS 10 SKP RESOURCES BH 1.29 11 CYCLE & CARR BIN 2.84 12 0.77 YI-LAI BHD 13 VOIR HOLDINGS 0.63 14 KEIN HING INTL 0.73 15 1.11 ATRIUM REIT 16 AL-SALAM REAL ES 1.02 17 VERSATILE CREATI 1.32 18 0.22 GREENYIELD BHD 19 FLBHD 1.62 20 JAYCORP BHD 1.36 Raw data sourced from Bloomberg 1 2 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 1.97 1.43 3.16 0.43 1.69 0.47 0.60 1.44 1.05 1.29 2.84 0.77 0.63 0.73 1.11 1.02 1.32 0.22 1.62 1.36 2.02 1.48 3.24 0.46 1.72 0.49 0.61 1.54 1.11 1.35 2.88 0.79 0.68 0.80 1.12 1.03 1.35 0.22 1.64 1.38 2.07 1.54 3.33 0.48 1.74 0.50 0.62 1.64 1.16 1.40 2.91 0.81 0.73 0.87 1.14 1.04 1.38 0.23 1.66 1.40 29.39 36.36 39.82 41.19 46.50 33.65 40.52 31.80 30.53 35.81 37.79 39.53 42.52 36.95 43.47 42.49 35.29 45.59 41.20 41.15 2.00 1.46 3.21 0.45 1.71 0.48 0.61 1.51 1.09 1.33 2.86 0.78 0.66 0.80 1.12 1.03 1.34 0.22 1.64 1.38 2.02 1.49 3.24 0.45 1.71 0.49 0.62 1.57 1.12 1.35 2.93 0.80 0.69 0.79 1.12 1.03 1.35 0.23 1.65 1.39 2.03 1.49 3.19 0.44 1.67 0.49 0.62 1.62 1.17 1.34 2.94 0.81 0.68 0.76 1.12 1.04 1.36 0.23 1.66 1.40 Vol 100,000 2,996,500 940,100 126,300 295,800 40,000 87,700 38,700 2,500 746,600 24,500 38,700 30,800 57,000 15,000 20,400 642,000 1,059,100 285,000 918,300 20-day avg vol 21,420 1,854,805 810,410 307,510 661,045 137,200 159,175 5,305 875 2,750,880 61,005 30,940 3,390 72,250 61,815 89,320 2,542,160 621,645 337,820 253,230 *Note: The list below is the 20 most overbought of the 1000 over Bursa Malaysia listed stocks with 14-day RSI above 80. It is generally a bearish or SELL list, especially if the readings approach 90. Caveat: The list consists of fundamentally sound stocks, and hence are long-term BUY or HOLD stocks. Page 2 of 3
41. TA Securities A Member of the TA Group TOP 20 OVERBOUGHT STOCKS (Generally BEARISH short-term, but are LONG-TERM BUY or HOLD) No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Stock Name Price CONNECTCOUNTY BOON KOON GROUP ANZO HOLDINGS BH MALAYSIAN PAC IN GEORGE KENT MALA INDUSTRONICS BHD GD EXPRESS CARRI TRIVE PROPERTY B BOUSTEAD HEAVY I VITROX CORP BHD NOTION VTEC BHD AJINOMOTO MALA CHEMICAL CO MALA MMS VENTURES BHD PUB PACKAGES HLD PENTAMASTER CORP EITA RESOURCES OMESTI BHD SAMCHEM HOLDINGS ORION IXL BHD 0.24 0.26 0.45 11.96 3.89 0.26 2.00 0.20 2.52 4.48 1.26 15.50 1.51 0.90 1.27 2.32 1.55 0.58 2.27 0.28 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.14 0.09 0.22 9.03 2.60 0.14 1.45 0.05 2.17 4.08 0.74 14.25 1.22 0.51 0.90 1.61 1.19 0.40 1.66 0.17 0.19 0.16 0.31 10.21 3.19 0.19 1.75 0.12 2.39 4.34 1.07 14.91 1.40 0.73 1.05 2.03 1.32 0.49 1.97 0.21 0.24 0.23 0.41 11.39 3.79 0.24 2.05 0.19 2.61 4.60 1.40 15.56 1.58 0.94 1.20 2.44 1.45 0.58 2.29 0.25 93.12 90.13 89.56 89.43 88.30 88.06 84.42 84.38 82.80 82.61 82.46 82.40 82.30 82.17 81.85 80.62 80.54 80.35 80.23 80.03 0.21 0.18 0.35 10.59 3.39 0.21 1.86 0.15 2.47 4.46 1.23 15.20 1.47 0.82 1.10 2.21 1.35 0.53 2.10 0.22 0.18 0.15 0.29 9.87 3.09 0.19 1.71 0.11 2.28 4.20 1.00 14.72 1.34 0.70 1.02 1.92 1.28 0.48 1.89 0.21 0.17 0.15 0.28 9.17 3.06 0.17 1.69 0.10 2.11 4.02 0.90 14.46 1.21 0.66 0.99 1.76 1.24 0.47 1.71 0.21 Vol 6,501,800 44,679,400 52,758,300 758,300 2,497,800 811,200 2,578,700 86,985,100 142,900 558,300 3,431,300 27,800 405,000 1,797,500 6,378,100 1,425,900 2,325,900 1,392,500 827,300 33,238,800 20-day avg vol 7,929,470 5,995,600 15,491,450 474,195 2,108,575 397,400 1,045,865 24,081,220 104,405 250,390 3,948,015 20,130 820,855 2,691,795 885,515 1,762,930 352,825 533,360 259,365 2,374,600 Raw data sourced from Bloomberg *Note: The list below is the 20 of the most oversold of the 1000 over Bursa Malaysia listed stocks with 14-day RSI close to and below 30, the level below which is considered oversold. It is generally a short-term bullish or BUY list for technical rebound gains, especially if the readings are below 20. Caveat: The list consists of fundamentally weak stocks, and hence could be an AVOID list. TOP 20 OVERSOLD STOCKS (Generally BULLISH short-term, but AVOID fundamentally weak stocks) No Stock Name Price IMASPRO CORP BHD 1.95 COMPUTER FORMS 1.05 3 ENG KAH CORP BHD 1.44 4 MYCRON STEEL BHD 0.79 5 MAA GROUP BHD 0.86 6 MEDA INC BHD 0.47 7 GOH BAN HUAT 1.37 8 TDM BHD 0.68 9 YEE LEE CORP 2.47 10 VERSATILE CREATI 1.32 11 SKP RESOURCES BH 1.29 12 IJM PLANTATIONS 3.15 13 HEVEABOARD BHD 1.42 14 SUPERMAX CORP 1.99 15 TRIPLC BHD 1.75 16 KEIN HING INTL 0.73 17 EVERGREEN FIBREB 0.87 18 AMWAY MALAYSIA H 7.44 19 REACH ENERGY BHD 0.60 20 KANGER INTERNATI 0.23 Raw data sourced from Bloomberg 1 2 RSI Bollinger Band Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 1.97 1.05 1.44 0.78 0.82 0.47 1.36 0.66 2.45 1.32 1.29 3.12 1.43 1.97 1.74 0.73 0.86 7.31 0.59 0.22 2.02 1.11 1.54 0.81 0.90 0.49 1.39 0.69 2.54 1.35 1.35 3.24 1.48 2.02 1.79 0.80 0.88 7.78 0.61 0.24 2.07 1.16 1.64 0.85 0.97 0.50 1.41 0.72 2.63 1.38 1.40 3.36 1.54 2.07 1.85 0.87 0.91 8.25 0.63 0.25 29.39 30.53 31.80 31.98 32.34 33.65 34.22 34.52 34.99 35.29 35.81 35.83 36.36 36.52 36.66 36.95 37.00 37.55 37.66 37.68 2.00 1.09 1.51 0.80 0.86 0.48 1.38 0.68 2.50 1.34 1.33 3.20 1.46 2.00 1.78 0.80 0.88 7.56 0.60 0.23 2.02 1.12 1.57 0.84 0.89 0.49 1.39 0.72 2.55 1.35 1.35 3.30 1.49 2.04 1.82 0.79 0.91 7.73 0.62 0.25 2.03 1.17 1.62 0.90 0.89 0.49 1.40 0.74 2.57 1.36 1.34 3.34 1.49 2.06 1.87 0.76 0.93 7.60 0.63 0.25 Vol 100,000 2,500 38,700 1,062,700 238,900 40,000 1,500 1,308,300 96,000 642,000 746,600 18,600 2,996,500 720,000 30,000 57,000 3,371,300 149,100 232,500 652,000 20-day avg vol 21,420 875 5,305 1,901,785 234,385 137,200 3,220 2,511,490 254,920 2,542,160 2,750,880 181,105 1,854,805 2,263,760 64,795 72,250 4,174,010 58,315 1,317,460 1,035,480 p Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 3 of 3
42. Monday , 27 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED FOREIGN TECHNICAL REPORTS’ Foreign Technical Reports 1. Foreign Stock Watch (ASX) 2. Foreign Stock Watch (HK) 3. Foreign Stock Watch (FSSTI) 4. Foreign Stock Watch (US) Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report i for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
43. TA Securities T e c h n i c a l V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Technical Stock Picks Australia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my RIO TINTO LTD BOLLINGER BANDS AUD AUD AUD DMI Upper Middle Lower Recent Signal Signal Change AUD60.11 63.69 61.16 58.64 SELL SIMPLE MOVING AVERAGES AUD 60.88 AUD 63.34 AUD 63.99 DAILY MACD Recent Signal SELL Signal Change SELL 10-day 30-day 50-day WESTPAC BANKING CORP ZZZXX Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS AUD AUD AUD DMI www.taonline.com.my 35.35 34.32 33.30 SELL AUD33.90 SIMPLE MOVING AVERAGES AUD 34.34 AUD 34.12 AUD 33.35 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 1 of 7
44. WESTFIELD CORP BOLLINGER BANDS AUD AUD AUD DMI Upper Middle Lower Recent Signal Signal Change 8 .89 8.64 8.39 SELL AUD8.65 SIMPLE MOVING AVERAGES AUD 8.55 AUD 8.75 AUD 8.85 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day QBE INSURANCE GROUP LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS AUD AUD AUD DMI 13.18 12.73 12.28 BUY AUD12.82 SIMPLE MOVING AVERAGES AUD 12.82 AUD 12.69 AUD 12.54 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 7
45. ORICA LTD Upper Middle Lower BOLLINGER BANDS AUD AUD AUD DMI Recent Signal Signal Change AUD17 .56 19.48 18.24 17.00 SELL SIMPLE MOVING AVERAGES AUD 17.73 AUD 18.34 AUD 18.44 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day QANTAS AIRWAYS LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS AUD AUD AUD DMI AUD3.89 3.90 3.79 3.67 10-day 30-day 50-day BUY Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES AUD 3.83 AUD 3.70 AUD 3.59 DAILY MACD SELL
46. WEEKLY FOREIGN STOCK WATCH UPDATE The table below consists of the top 30 ASX 200 Index component stocks , weighted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Name ASX 200 BHP BILLITON RIO TINTO COMMONW BK AUSTR WESTPAC BANKING AUST AND NZ BANK NATL AUST BANK WESFARMERS WOODSIDE PETRO NEWCREST MINING WESTFIELD GROUP FORTESCUE METALS QBE INSURANCE ORIGIN ENERGY AMP SANTOS MACQUARIE GROUP SUNCORP GROUP ORICA OIL SEARCH COCA-COLA AMATIL AMCOR STOCKLAND ALUMINA COMPUTERSHARE QANTAS AIRWAYS SIMS METAL MGMT Close Bollinger Bands RSI Moving Averages DMI Change High Low 24-Mar Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff 5753.55 45.59 5768.40 5706.30 5690.04 5750.36 5810.69 51.22 5757.55 5762.31 5723.74 28.49 23.56 18.55 4.93 24.26 60.11 83.38 33.90 31.36 32.09 43.88 31.00 22.53 8.65 6.26 12.82 6.69 4.99 3.71 88.03 13.11 17.56 7.00 10.52 14.92 4.54 1.78 13.72 3.89 12.45 0.07 0.11 0.43 0.46 0.59 0.33 0.48 0.17 -0.02 0.13 0.00 0.25 -0.03 0.04 0.05 1.18 0.17 -0.10 0.02 0.08 0.26 0.03 -0.01 0.10 0.03 -0.01 24.42 60.74 83.89 34.11 31.41 32.23 43.96 31.06 22.60 8.68 6.37 12.91 6.78 5.02 3.73 88.34 13.17 17.78 7.03 10.63 14.92 4.58 1.81 13.76 4.00 12.61 24.00 59.73 82.68 33.48 30.70 31.80 43.49 30.78 22.28 8.49 6.21 12.65 6.64 4.93 3.64 87.03 12.96 17.45 6.95 10.49 14.63 4.50 1.77 13.56 3.85 12.37 23.37 58.64 82.07 33.30 30.63 31.49 42.45 30.55 20.69 8.39 6.04 12.28 6.23 4.84 3.51 85.97 12.98 17.00 6.77 10.18 13.95 4.40 1.73 13.41 3.67 12.14 24.68 61.16 83.68 34.32 31.40 32.34 43.55 31.06 21.85 8.64 6.46 12.73 6.52 4.98 3.67 87.85 13.29 18.24 6.94 10.38 14.37 4.60 1.85 13.80 3.79 12.64 25.99 63.69 85.28 35.35 32.16 33.19 44.65 31.56 23.01 8.89 6.88 13.18 6.80 5.11 3.82 89.73 13.60 19.48 7.11 10.57 14.79 4.80 1.97 14.19 3.90 13.14 42.68 41.32 47.75 48.35 53.98 50.87 57.37 46.72 58.03 47.11 43.14 53.12 51.58 48.77 48.33 53.30 43.94 40.03 51.97 58.61 65.32 48.38 39.93 52.11 67.38 48.55 24.36 60.88 84.08 34.34 31.48 32.29 43.89 31.06 22.16 8.55 6.45 12.82 6.62 4.99 3.65 88.33 13.19 17.73 6.89 10.41 14.54 4.51 1.81 13.86 3.83 12.51 25.23 63.34 83.88 34.12 31.09 32.12 43.29 31.28 22.21 8.75 6.61 12.69 6.68 5.02 3.77 87.53 13.33 18.34 7.01 10.31 14.49 4.59 1.89 13.71 3.70 12.59 25.77 63.99 83.26 33.35 30.48 31.49 42.39 31.53 22.17 8.85 6.54 12.54 6.87 5.04 3.86 86.31 13.28 18.44 7.02 10.13 14.50 4.51 1.89 13.31 3.59 12.29 26.46 24.37 23.90 26.67 24.99 24.33 23.12 17.02 28.87 18.81 20.74 31.91 32.08 20.80 22.46 20.94 21.72 15.48 21.61 31.94 28.31 19.87 22.41 19.67 32.20 24.72 37.59 37.42 24.05 29.61 19.99 25.17 17.64 26.93 23.83 23.99 32.03 22.87 23.23 22.90 26.99 22.92 28.69 28.30 23.95 16.46 18.58 18.00 27.72 21.68 13.30 21.17 15.55 22.00 12.79 21.65 23.70 24.45 22.94 21.77 13.36 29.25 16.08 16.15 16.89 15.08 24.24 14.05 14.88 23.10 18.63 19.10 13.17 17.02 15.14 25.63 27.92 20.19 (11.13) (13.05) (0.15) (2.94) 5.00 (0.84) 5.48 (9.91) 5.04 (5.19) (11.29) 9.04 8.85 (2.11) (4.53) (1.99) (6.96) (12.82) (2.34) 15.48 9.74 1.87 (5.31) (2.02) 18.91 3.55 MACD DMI MACD DMI MACD Line Signal Diff Recent Signal Signal Change 3.82 10.85 (7.030) BUY SELL BUY -0.41 -0.42 0.006 SELL BUY - BUY -1.00 -1.00 (0.002) SELL SELL - SELL 0.09 0.24 (0.155) SELL SELL 0.13 0.32 (0.188) SELL SELL 0.19 0.32 (0.126) BUY SELL BUY 0.12 0.27 (0.146) SELL SELL 0.36 0.45 (0.092) BUY SELL BUY -0.12 -0.13 0.003 SELL BUY 0.09 -0.02 0.105 BUY BUY -0.09 -0.10 0.011 SELL BUY -0.05 -0.03 (0.022) SELL SELL 0.07 0.09 (0.022) BUY SELL -0.03 -0.08 0.042 BUY BUY -0.02 -0.02 0.001 SELL BUY - BUY -0.06 -0.07 0.017 SELL BUY 0.37 0.57 (0.196) SELL SELL -0.07 -0.03 (0.041) SELL SELL -0.26 -0.18 (0.080) SELL SELL -0.03 -0.04 0.009 SELL BUY 0.08 0.09 (0.009) BUY SELL 0.06 -0.01 0.068 BUY BUY -0.01 0.00 (0.014) BUY SELL BUY -0.03 -0.02 (0.010) SELL SELL 0.11 0.19 (0.072) SELL SELL 0.08 0.08 (0.003) BUY SELL 0.03 0.07 (0.040) BUY SELL - INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average, and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 4 of 7
47. Fundamentals of Foreign Technical Picks Bloomberg Ticker Stock Name BHP AU BHP BILLITON LTD RIO AU RIO TINTO LTD CBA AU COMMONW BK AUSTR WBC AU WESTPAC BANKING ANZ AU AUST AND NZ BANK NAB AU NATL AUST BANK WES AU WESFARMERS LTD WPL AU WOODSIDE PETRO NCM AU NEWCREST MINING WFD AU WESTFIELD GROUP FMG AU FORTESCUE METALS QBE AU QBE INSURANCE ORG AU ORIGIN ENERGY AMP AU AMP LTD STO AU SANTOS LTD MQG AU MACQUARIE GROUP SUN AU SUNCORP GROUP LT ORI AU ORICA LTD OSH AU OIL SEARCH LTD CCL AU COCA-COLA AMATIL AMC AU AMCOR LTD SGP AU STOCKLAND AWC AU ALUMINA LTD CPU AU COMPUTERSHARE LT QAN AU QANTAS AIRWAYS SGM AU SIMS METAL MGMT Close Target Price % upside EPS ($) Div Yield(%) PER(x) 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 24.26 28.37 14% 1.47 1.25 12.5 14.7 3.413 2.955 27.96 15.85 -3.19 60.11 71.60 16% 4.41 3.21 10.4 14.3 4.369 3.274 69.80 41.51 0.35 83.38 83.80 0% 5.64 5.81 14.8 14.4 5.082 5.194 86.09 69.22 1.18 33.90 34.07 1% 2.41 2.50 14.1 13.6 5.499 5.481 35.26 27.57 3.99 31.36 30.99 -1% 2.39 2.43 13.1 12.9 5.147 5.210 32.05 22.06 3.09 32.09 32.17 0% 2.41 2.46 13.3 13.1 6.092 5.968 33.28 23.90 4.63 43.88 43.35 -1% 2.61 2.64 16.8 16.6 5.032 5.105 46.06 38.62 4.13 31.00 33.23 7% 1.31 1.49 18.1 15.9 3.255 3.710 32.59 23.82 -0.51 22.53 22.94 2% 0.74 0.93 23.1 18.4 0.763 1.110 27.20 15.88 11.26 8.65 9.37 8% 0.33 0.36 20.0 18.4 2.971 3.017 11.14 8.21 -7.78 6.26 6.72 7% 0.84 0.49 5.7 9.7 5.224 3.195 7.27 2.47 6.28 12.82 13.66 6% 0.64 0.80 15.3 12.1 3.307 3.900 13.28 9.22 3.22 6.69 7.33 9% 0.32 0.55 20.8 12.1 0.000 1.315 7.47 4.42 1.52 4.99 5.29 6% 0.36 0.37 14.1 13.4 5.812 6.072 5.96 4.39 -0.99 3.71 4.42 16% 0.14 0.20 19.8 14.5 0.970 2.075 5.07 3.30 -7.71 88.03 88.37 0% 6.12 6.36 14.4 13.9 4.827 5.038 89.88 61.05 1.04 13.11 13.90 6% 0.91 0.98 14.4 13.4 5.584 5.988 13.95 11.27 -3.03 17.56 16.66 -5% 1.05 1.13 16.8 15.5 3.030 3.292 19.49 12.04 -0.68 7.00 7.98 12% 0.21 0.26 25.4 20.7 1.200 1.529 7.75 5.98 -2.37 10.52 9.92 -6% 0.57 0.59 18.4 17.7 4.563 4.686 10.70 7.94 3.95 14.92 15.97 7% 0.61 0.65 18.7 17.5 2.862 3.204 16.66 13.62 -0.20 4.54 4.82 6% 0.31 0.33 14.5 13.8 5.661 5.881 5.11 4.03 -0.87 1.78 1.87 5% 0.11 0.10 12.8 14.2 5.803 5.803 2.04 1.19 -3.01 13.72 13.19 -4% 0.55 0.60 19.1 17.3 1.931 2.048 14.28 8.63 10.11 3.89 4.34 10% 0.53 0.53 7.40 7.31 3.753 4.576 4.22 2.58 16.82 12.45 12.58 1% 0.63 0.71 19.8 17.5 3.076 3.165 13.62 7.40 -2.96 Note : The above data is based on Bloomberg consensus. Page 5 of 7
48. Daily Money Flow of Technical Stock Picks Australia THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo Tel: +603-2167 9607 www.taonline.com.my (B) 21-Mar 22-Mar 23-Mar 24-Mar Total 5D MF (A) 20-Mar Prv. Chg Cur. Chg ASX 200 (3.8) (9.2) (21.0) (5.5) 10.4 (29.1) 15.6 15.8 5,778.9 5,774.6 5,684.5 5,708.0 5,753.5 45.60 1 BHP BILLITON (1.4) (2.0) (2.1) (5.7) 0.2 (11.0) (3.6) 5.9 24.88 24.64 23.92 24.19 24.26 0.07 2 RIO TINTO 3 COMMONW BK AUSTR (0.3) (0.1) 0.5 (0.1) 60.00 0.1 1.2 (1.3) 0.7 60.00 (5.9) (5.3) (0.6) 6.0 61.60 (0.6) (2.7) (1.3) (6.5) 62.39 (0.8) 0.6 (1.3) 0.8 3.5 (2.7) 6.4 2.4 84.43 34.56 84.42 34.32 82.71 33.49 82.95 33.44 60.11 83.38 (0.8) 0.2 (2.0) (2.5) 5.5 0.6 30.77 (0.9) 1.3 (0.5) (0.1) 30.76 (0.8) 0.4 (2.0) (1.0) 31.57 0.3 (0.6) 3.0 (0.2) 31.41 0.6 (0.3) 2.0 2.9 0.9 0.7 32.24 43.80 32.22 43.92 31.71 43.29 31.76 43.40 (0.4) (0.2) (0.0) 0.5 30.83 1.0 0.3 (0.3) (2.0) 30.68 (0.1) (0.1) 0.5 1.1 31.23 0.3 (0.6) 0.2 0.3 31.37 0.1 (0.4) 0.3 (1.0) (0.5) (1.4) 0.5 (0.9) 22.16 8.57 22.14 8.54 22.52 8.51 22.55 8.52 0.0 0.1 (2.7) (1.5) 0.4 (0.4) (0.4) (0.7) 0.4 (0.0) (0.5) 0.2 0.0 0.5 (4.0) 0.3 1.3 (0.9) 1.5 1.0 (0.2) (1.0) 0.2 (0.4) (0.1) (0.2) 0.5 (1.6) 0.1 (2.0) 0.1 (3.9) (0.4) 1.0 0.2 (0.2) (1.2) (0.4) (2.1) (0.4) 1.7 0.1 16 MACQUARIE GROUP 0.1 (0.1) 0.6 (4.5) 4.9 17 SUNCORP GROUP 18 ORICA 0.0 (0.0) (0.9) 0.2 (1.1) (0.2) 0.2 0.1 0.0 (0.0) (1.7) 0.0 19 OIL SEARCH 20 COCA-COLA AMATIL 21 AMCOR 0.2 (1.3) (0.1) (0.9) 0.1 0.2 0.3 0.2 0.6 0.1 1.8 (0.5) 0.3 0.4 1.4 (0.7) 0.1 (0.0) 1.3 0.3 (0.2) (0.3) (0.2) 25 QANTAS AIRWAYS (0.1) (0.4) 0.1 0.3 0.5 0.1 0.1 (0.1) 26 SIMS METAL MGMT (0.0) 0.1 0.1 0.6 No Name 4 WESTPAC BANKING 5 AUST AND NZ BANK 6 NATL AUST BANK 7 WESFARMERS 8 WOODSIDE PETRO 9 NEWCREST MINING 10 WESTFIELD GROUP 11 FORTESCUE METALS 12 QBE INSURANCE 13 ORIGIN ENERGY 14 AMP 15 SANTOS 22 STOCKLAND 23 ALUMINA 24 COMPUTERSHARE Total Money Flow (AUD' mn) stsoo@ta.com.my CLOSING PRICE 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar (A+B) DMF Chg IN 31.36 32.09 IN 0.11 OUT 0.43 IN 0.46 IN 0.59 IN 0.33 IN 43.88 0.48 33.90 31.00 22.53 8.65 6.26 12.82 IN 0.17 IN (0.02) OUT 0.13 OUT 0.00 IN 0.25 IN 6.70 6.62 6.27 6.26 12.91 6.61 12.92 6.65 12.55 6.58 12.57 6.72 5.01 4.99 4.94 4.95 3.71 88.60 3.61 86.44 3.66 86.85 4.99 3.71 (0.4) 3.69 88.57 (0.03) OUT 0.04 OUT 0.05 OUT 88.03 1.18 1.3 0.3 (0.2) (0.1) 13.26 17.76 13.15 17.91 12.94 17.39 12.94 17.66 13.11 17.56 0.5 (1.7) 5.4 0.3 (0.0) 1.1 (0.3) (0.3) (0.1) 6.92 10.29 6.93 10.46 6.83 10.35 6.98 10.44 (0.1) (0.7) (1.2) 0.6 14.57 4.51 14.62 4.51 14.55 4.52 14.66 4.51 7.00 10.52 14.92 0.17 IN (0.10) IN 0.02 OUT 0.08 OUT 0.26 IN 0.1 0.7 (0.3) 1.3 0.1 (0.4) 0.2 0.5 1.83 1.79 1.75 1.79 0.2 0.1 (0.2) 0.3 13.93 3.81 13.88 3.84 13.50 3.82 13.62 3.86 0.7 1.3 0.5 0.1 12.75 12.73 12.33 12.46 6.69 4.54 1.78 13.72 3.89 12.45 IN 0.03 OUT (0.01) IN 0.10 IN 0.03 IN (0.01) IN Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Page 6 of 7
49. LIST OF RECOMMENDED BUY STOCKS FROM JULY 2015 TO CURRENT Stock AMCOR LTD BHP BILLITON BHP BILLITON BHP BILLITON COCA-COLA AMMATIL COMPUTERSHARE COMPUTERSHARE MACQUARIE MACQUARIE AUSTRALIA & NZ BANK QANTAS AIRWAYS QANTAS AIRWAYS QANTAS AIRWAYS QANTAS AIRWAYS QANTAS AIRWAYS QANTAS AIRWAYS QANTAS AIRWAYS QANTAS AIRWAYS QBE INSURANCE QBE INSURANCE QBE INSURANCE RIO TINTO RIO TINTO SANTOS STOCKLAND STOCKLAND SUNCORP GROUP SUNCORP GROUP SUNCORP GROUP WESTPAC BANKING WESTPAC BANKING WESTFIELD CORP WOODSIDE Total funds invested * Total unrealised profit Return REC BUY Date Price 17-Jun 21-Oct 6-May 10-Mar 30-Jun 26-May 18-Aug 13-Oct 15-Sep 25-Nov 2-Sep 27-Apr 7-Apr 14-Jul 9-Nov 21-Dec 4-Jan 16-Feb 7-Sep 26-Jul 17-Feb 7-Oct 28-Feb 23-Sep 31-Mar 18-Jan 1-Nov 23-Feb 13-Oct 25-Oct 22-Mar 23-Feb 8-Feb 24-Mar-17 Price 14.29 22.85 18.43 17.86 8.13 10.60 9.69 83.67 77.57 28.33 3.27 3.21 4.11 3.47 2.98 3.37 3.38 3.47 9.77 11.13 10.01 52.21 62.49 3.69 4.27 4.38 11.97 11.66 12.88 30.57 34.32 9.01 31.60 14.92 24.26 24.26 24.26 10.52 13.72 13.72 88.03 88.03 31.36 3.89 3.89 3.89 3.89 3.89 3.89 3.89 3.89 12.82 12.82 12.82 60.11 60.11 3.71 4.54 4.54 13.11 13.11 13.11 33.90 33.90 8.65 31.00 Change (+/-) 0.63 1.41 5.83 6.40 2.39 3.12 4.03 4.36 10.46 3.03 0.62 0.68 (0.22) 0.42 0.91 0.52 0.51 0.42 3.05 1.69 2.81 7.90 (2.38) 0.02 0.27 0.16 1.14 1.45 0.23 3.33 (0.42) (0.36) (0.60) pct ST 4.41 6.17 31.63 35.83 29.40 29.43 41.59 5.21 13.48 10.70 18.96 21.18 (5.35) 12.10 30.54 15.43 15.09 12.10 31.22 15.18 28.07 15.13 (3.81) 0.54 6.32 3.65 9.52 12.44 1.79 10.89 (1.22) (4.00) (1.90) 618,640 63,810 10.31% 15.57 25.17 25.17 25.17 11.00 14.21 14.21 93.46 93.46 32.50 4.22 4.22 4.22 4.22 4.22 4.22 4.22 4.22 13.63 13.63 13.63 63.50 63.50 3.86 4.78 4.78 14.57 14.57 14.57 36.98 36.98 9.33 33.84 Upside Targets MT LT 16.66 17.74 27.79 32.04 27.79 32.04 27.79 32.04 11.71 12.16 15.42 16.23 15.42 16.23 97.59 100.95 97.59 100.95 35.00 37.25 4.69 4.98 4.69 4.98 4.69 4.98 4.69 4.98 4.69 4.98 4.69 4.98 4.69 4.98 4.69 4.98 15.00 16.36 15.00 16.36 15.00 16.36 69.80 77.65 69.80 77.65 5.23 5.88 5.11 5.44 5.11 5.44 15.62 16.28 15.62 16.28 15.62 16.28 39.85 42.70 39.85 42.70 9.68 10.02 36.94 40.03 ST 4.36 3.75 3.75 3.75 4.56 3.57 3.57 6.17 6.17 3.64 8.48 8.48 8.48 8.48 8.48 8.48 8.48 8.48 6.32 6.32 6.32 5.64 5.64 4.04 5.29 5.29 11.14 11.14 11.14 9.09 9.09 7.86 9.16 % Upside MT 11.66 14.55 14.55 14.55 11.31 12.39 12.39 10.86 10.86 11.61 20.57 20.57 20.57 20.57 20.57 20.57 20.57 20.57 17.00 17.00 17.00 16.12 16.12 40.97 12.56 12.56 19.15 19.15 19.15 17.55 17.55 11.91 19.16 LT 18.90 32.07 32.07 32.07 15.59 18.29 18.29 14.68 14.68 18.78 28.02 28.02 28.02 28.02 28.02 28.02 28.02 28.02 27.61 27.61 27.61 29.18 29.18 58.49 19.82 19.82 24.18 24.18 24.18 25.96 25.96 15.84 29.13 Upside Targets ** ST = Short Term (one month) MT = Medium Term (three months) LT = Long Term (above six months) * The portfolio assumes each position consists of 1,000 shares and no deductions for any charges, fees and commision ** Upside Targets are derived from the subsequent Fibonacci Projection levels The above table is a performance summary of our top BUY recommendations from JULY 2015 to current (sorted by name) together with upside targets, which are taken from subsequent Fibonacci Projection targets which could be achieved in one month (ST), three months (MT) and above six months (LT) from recommendation date. Interpretation: Investors should aim to take profit/sell trading positions when the percentage upside on the last three columns falls to 5% or below (shaded column). A negative percentage value indicates the upside target for the particular time-frame has been breached. Any revision in upside targets will be highlighted in bold. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 7 of 7
50. TA Securities T e c h n i c a l V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Technical Stock Picks Hong Kong THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my CHINA MOBILE LTD Upper Middle Lower BOLLINGER BANDS HKD HKD HKD DMI Recent Signal Signal Change 90.12 86.11 82.09 BUY HKD86.45 SIMPLE MOVING AVERAGES HKD 86.97 HKD 86.50 HKD 86.69 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day CHINA CONSTRUCTION BANK CORP ZZZXX Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS HKD HKD HKD DMI 6.56 6.30 6.05 BUY www.taonline.com.my HKD6.39 SIMPLE MOVING AVERAGES HKD 6.39 HKD 6.30 HKD 6.11 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 1 of 7
51. LI & FUNG LTD Upper Middle Lower BOLLINGER BANDS HKD HKD HKD DMI Recent Signal Signal Change HKD3.71 3.88 3.63 3.38 BUY SIMPLE MOVING AVERAGES HKD 3.72 HKD 3.58 HKD 3.51 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day CHINA UNICOM HONG KONG LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS HKD HKD HKD DMI 10.45 9.73 9.00 BUY HKD10.46 SIMPLE MOVING AVERAGES HKD 10.01 HKD 9.62 HKD 9.41 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 7
52. CATHAY PACIFIC AIRWAYS LTD Upper Middle Lower BOLLINGER BANDS HKD HKD HKD DMI Recent Signal Signal Change 11 .90 11.41 10.93 SELL HKD11.28 SIMPLE MOVING AVERAGES HKD 11.28 HKD 11.35 HKD 11.07 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day AIA GROUP LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS HKD HKD HKD DMI HKD50.10 50.63 49.51 48.38 10-day 30-day 50-day BUY Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES HKD 49.56 HKD 49.13 HKD 48.42 DAILY MACD BUY
53. WEEKLY FOREIGN STOCK WATCH UPDATE The table below consists of the 45 HKSE Hang Seng Index component stocks , sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Stock Close Name 24-Mar HANG SENG 24,358.27 HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA GALAXY 63.00 86.45 6.39 5.16 9.24 24.00 3.92 114.30 5.78 225.20 196.40 97.80 43.85 6.20 18.56 80.60 3.71 32.40 157.40 15.40 77.75 20.70 69.00 23.75 67.20 5.14 48.30 6.09 4.07 10.46 32.30 6.77 42.95 13.84 18.02 9.77 22.45 22.05 14.34 3.84 11.28 11.08 8.73 3.09 2.36 50.10 35.05 41.60 Change High Lower 30.57 0.00 (0.80) (0.01) (0.01) 0.35 (0.30) (0.02) (0.60) (0.01) 2.20 0.00 0.00 0.20 0.07 (0.04) 0.15 0.00 0.60 (0.70) 0.00 0.60 0.05 0.00 (0.20) 0.25 (0.04) (0.60) (0.02) 0.02 0.34 0.15 0.25 0.20 (0.14) (0.02) (0.15) 0.10 0.25 (0.18) (0.06) 0.28 (0.16) 0.05 (0.04) 0.03 (0.10) (0.20) (0.10) 24,420.77 24,263.17 63.35 88.00 6.43 5.19 9.29 24.40 3.96 114.40 5.83 225.40 197.20 97.85 44.55 6.20 18.66 80.70 3.72 32.50 158.10 15.40 78.00 20.70 69.10 23.95 67.35 5.22 49.15 6.16 4.09 10.56 32.30 6.77 42.95 14.00 18.18 9.92 22.70 22.05 14.70 3.95 11.34 11.26 8.85 3.15 2.36 50.45 35.55 42.00 63.00 86.00 6.35 5.12 9.13 23.85 3.91 112.30 5.73 222.40 195.50 96.80 43.65 6.12 18.40 80.30 3.66 31.85 156.60 15.30 77.20 20.40 68.25 23.55 66.80 5.12 48.20 6.07 4.02 10.06 31.95 6.60 42.50 13.74 17.80 9.75 22.25 21.75 14.02 3.78 10.90 11.04 8.65 3.08 2.35 49.90 34.80 41.05 RSI Bollinger Bands Low 23,269.48 62.37 82.09 6.05 4.88 8.78 22.89 3.76 111.59 5.64 200.78 188.25 95.00 40.31 5.77 14.35 77.05 3.38 30.45 156.30 14.77 76.78 19.19 59.25 23.11 66.49 5.10 43.68 5.96 3.85 9.00 31.40 6.52 40.76 12.96 17.22 9.69 20.07 21.14 13.88 3.78 10.93 10.86 8.32 2.98 2.30 48.38 32.11 36.66 Mid Upper 14d 23,950.15 24,630.83 62.48 63.35 86.11 6.30 5.07 9.05 24.05 3.89 113.79 5.82 215.54 194.15 96.40 42.24 5.99 16.76 79.19 3.63 31.46 158.92 15.08 79.12 20.05 65.54 24.20 68.23 5.28 46.06 6.11 4.04 9.73 32.08 6.97 42.04 13.50 17.81 9.96 21.52 21.62 14.37 4.01 11.41 11.15 8.53 3.14 2.40 49.51 34.07 39.48 64.33 90.12 6.56 5.26 9.31 25.20 4.03 115.99 6.00 230.30 200.04 97.80 44.17 6.20 19.17 81.33 3.88 32.47 161.54 15.38 81.45 20.90 71.83 25.30 69.97 5.45 48.43 6.25 4.22 10.45 32.75 7.41 43.32 14.05 18.40 10.23 22.98 22.09 14.86 4.24 11.90 11.44 8.75 3.31 2.49 50.63 36.03 42.29 41.72 49.13 57.32 58.12 52.95 50.29 54.37 59.00 42.70 66.58 54.13 67.98 67.42 61.80 68.90 65.35 58.09 66.66 44.68 66.89 41.56 66.46 76.45 45.42 37.92 45.72 74.18 50.47 51.12 75.25 50.90 51.26 66.66 62.88 57.07 49.77 61.26 60.37 51.38 42.85 50.46 44.19 61.81 52.33 46.57 59.65 61.86 72.83 Moving Averages 10d 24,215.02 63.64 86.97 6.39 5.14 9.01 24.48 3.94 114.06 5.79 221.78 196.17 96.90 43.01 6.00 17.40 79.26 3.72 31.92 158.93 15.16 78.43 20.43 68.42 24.59 67.62 5.27 46.91 6.12 4.04 10.01 32.01 6.82 42.51 13.55 17.95 9.87 22.16 21.74 14.49 3.95 11.28 11.23 8.57 3.14 2.41 49.56 34.89 40.57 30d DMI 50d DI + DMI MACD DI - ADX Diff Line Signal Diff MACD Recent Signal DMI MACD Signal Change 23,964.85 23,636.70 36.14 19.01 31.18 17.13 221.78 186.64 35.139 BUY BUY - - 64.43 86.50 6.30 5.08 9.20 24.17 3.91 112.65 5.92 213.80 196.07 95.27 42.25 6.03 16.65 78.71 3.58 31.44 160.24 15.02 79.55 19.94 63.71 24.15 68.84 5.28 45.48 6.14 4.09 9.62 32.53 6.74 41.60 13.28 17.73 9.82 21.47 21.69 14.33 4.06 11.35 11.31 8.53 3.09 2.38 49.13 33.48 38.56 64.82 86.69 6.11 4.95 9.42 23.27 3.77 110.34 6.01 209.00 192.85 93.84 41.50 6.07 16.45 77.64 3.51 31.05 158.53 14.86 79.11 19.49 61.40 23.69 68.80 5.10 44.51 5.99 4.05 9.41 32.50 6.46 40.68 13.10 16.91 9.50 20.66 21.33 13.96 3.97 11.07 11.36 8.27 2.87 2.35 48.42 33.67 37.38 26.41 24.06 16.91 18.91 22.61 24.01 18.47 19.84 25.73 18.69 18.60 12.13 9.32 16.58 14.44 14.11 15.40 17.16 22.19 9.81 17.25 10.35 9.80 26.05 23.22 23.62 10.27 22.51 22.18 10.80 16.23 20.55 10.22 11.84 18.37 20.88 16.47 17.04 22.74 20.78 23.09 20.68 9.22 13.54 26.01 17.06 14.92 8.06 12.51 28.87 22.90 26.16 25.21 29.03 27.39 35.71 20.07 23.50 19.98 29.05 34.74 15.16 29.54 37.02 20.70 18.75 16.82 27.01 13.91 32.32 45.21 25.52 19.13 25.16 38.50 14.15 13.60 37.77 14.27 33.14 55.41 31.39 23.07 25.59 28.59 10.47 28.80 19.13 25.20 22.09 24.57 41.74 39.81 29.61 30.65 38.79 (0.61) 1.16 9.11 12.45 5.91 4.43 9.90 5.03 (4.19) 14.57 6.94 12.36 28.94 11.32 30.18 18.94 9.08 11.90 (4.32) 16.73 (1.01) 13.46 24.65 (5.30) (8.25) (2.55) 22.89 1.77 3.79 28.55 2.67 4.36 19.33 16.49 7.24 (1.85) 14.76 2.05 (0.23) 4.76 (2.93) (2.54) 18.78 5.42 9.56 15.84 16.81 25.17 -0.43 0.49 0.08 0.06 -0.11 0.32 0.04 1.25 -0.05 5.06 1.02 1.04 0.62 0.02 0.63 0.76 0.07 0.34 -0.11 0.13 -0.50 0.35 2.40 0.19 -0.48 0.02 1.04 0.03 0.01 0.25 -0.14 0.05 0.64 0.22 0.30 0.09 0.49 0.16 0.18 -0.03 0.01 -0.03 0.10 0.06 0.01 0.49 0.57 1.26 0.000 0.313 0.001 0.005 0.036 (0.045) (0.005) (0.110) 0.008 0.830 0.274 0.015 0.170 0.031 0.298 0.129 0.004 0.045 (0.272) 0.027 (0.282) 0.034 0.109 (0.107) (0.122) (0.034) 0.256 (0.009) 0.009 0.066 0.035 (0.068) 0.036 0.040 (0.012) (0.049) 0.043 0.020 (0.019) (0.030) (0.072) 0.021 0.008 (0.030) (0.011) 0.011 0.141 0.187 SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY SELL BUY BUY SELL SELL SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY SELL SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL SELL SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY SELL BUY BUY SELL SELL SELL BUY SELL BUY BUY BUY SELL BUY BUY SELL SELL BUY BUY SELL SELL SELL BUY BUY SELL SELL BUY BUY BUY BUY SELL BUY SELL SELL - SELL BUY SELL SELL - 25.80 25.22 26.02 31.36 28.52 28.44 28.37 24.88 21.55 33.27 25.54 24.49 38.26 27.90 44.61 33.05 24.48 29.06 17.87 26.54 16.23 23.81 34.45 20.75 14.97 21.08 33.16 24.28 25.97 39.35 18.90 24.91 29.54 28.33 25.61 19.03 31.23 19.09 22.51 25.54 20.16 18.14 28.00 18.97 35.57 32.89 31.73 33.23 -0.43 0.18 0.08 0.06 -0.14 0.37 0.05 1.36 -0.06 4.23 0.74 1.02 0.45 -0.01 0.33 0.63 0.07 0.29 0.16 0.10 -0.22 0.32 2.29 0.30 -0.36 0.05 0.78 0.04 0.00 0.18 -0.17 0.12 0.61 0.18 0.31 0.14 0.45 0.14 0.20 0.00 0.08 -0.05 0.09 0.09 0.02 0.48 0.43 1.08 INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average, and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 4 of 7
54. Fundamentals of Foreign Technical Picks Bloomberg Ticker 5 941 939 1398 883 2628 3988 16 857 700 388 1 2318 386 1088 2 494 2388 11 3 19 101 4 688 6 1880 12 3328 1898 762 23 330 66 83 291 17 1109 144 836 2600 293 267 1199 2038 678 1299 1928 27 HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK EPS ($) Close HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA LTD GALAXY 63.00 63.33 86.45 107.59 20% 6.39 7.41 14% 5.16 6.10 15% 0.8 0.8 9.24 10.99 16% 0.6 0.8 24.00 27.81 14% 0.9 1.1 23.4 % upside 1% Div Yield(%) PER(x) Stock Name Target Price 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 0.6 0.7 13.6 12.4 0.8 0.8 69.10 44.50 1.20 5.6 6.1 13.6 12.6 3.0 3.3 99.30 80.30 5.17 0.9 0.9 6.2 6.1 4.3 4.3 6.55 4.50 7.04 5.9 5.9 4.5 4.5 5.27 3.82 10.97 N/A 10.3 3.5 3.7 10.88 8.46 -4.74 19.3 1.3 1.4 25.50 16.00 18.81 3.92 4.46 12% 0.6 0.6 6.1 6.0 4.4 4.4 4.08 2.90 13.95 114.30 129.67 12% 8.8 9.5 13.0 12.0 3.5 3.6 123.30 85.40 16.63 5.78 7.15 19% 0.0 0.3 104.6 17.7 0.7 2.2 6.38 4.76 0.00 225.20 256.15 12% 6.2 7.8 32.3 25.6 0.3 0.4 229.80 152.20 18.71 196.40 193.21 -2% 5.6 6.1 35.2 31.9 2.6 2.8 213.20 175.00 7.21 97.80 114.90 15% 9.0 10.0 10.9 9.8 2.9 3.2 103.90 80.60 11.26 43.85 56.13 22% 3.6 4.0 10.9 9.8 1.6 1.7 44.95 32.50 13.02 6.20 7.13 13% 0.3 0.4 16.7 12.9 2.9 3.6 6.34 4.66 12.73 18.56 19.00 2% 1.5 1.5 10.9 11.1 3.0 3.1 19.78 11.40 27.12 80.60 79.08 -2% 5.0 5.2 16.0 15.6 3.6 3.7 84.35 68.75 13.12 3.71 3.34 -11% 0.0 0.0 14.0 13.3 0.8 0.8 5.15 3.24 8.80 32.40 34.47 6% 2.2 2.5 14.6 12.9 5.5 3.9 32.50 21.01 16.76 157.40 154.98 -2% 9.3 10.2 17.0 15.5 4.0 4.3 164.40 127.60 9.08 15.40 12.85 -20% 0.6 0.6 25.8 24.7 2.4 2.6 15.50 12.75 12.08 77.75 78.15 1% 4.8 5.1 16.1 15.2 3.4 3.7 94.40 72.20 5.00 20.70 19.63 -5% 1.2 1.1 17.4 19.1 3.6 3.6 20.95 13.64 25.91 69.00 65.30 -6% 4.6 4.8 14.9 14.3 3.2 3.3 69.95 39.00 33.85 23.75 28.85 18% 3.3 3.7 7.3 6.4 3.6 4.1 27.85 20.15 15.57 67.20 75.13 11% 3.4 3.5 19.5 19.0 4.1 4.2 75.73 62.78 5.16 5.14 4.92 -4% 0.4 0.4 11.4 11.4 4.8 4.8 5.79 4.07 17.89 48.30 48.82 1% 3.3 3.2 14.7 15.0 3.2 3.2 49.30 39.64 17.09 6.09 5.98 -2% 0.9 0.9 6.1 6.1 4.4 4.3 6.44 4.46 8.56 4.07 4.52 10% 0.3 0.3 13.6 13.7 1.8 1.7 4.88 2.92 10.60 10.46 11.70 11% 0.2 0.4 41.4 22.9 0.8 1.4 10.56 7.70 15.84 32.30 25.72 -26% 2.1 1.8 15.6 18.3 2.9 2.6 34.75 26.35 8.75 6.77 6.11 -11% 0.0 0.2 N/A 42.0 0.0 1.1 7.62 5.34 11.17 42.95 39.12 -10% 1.6 1.6 27.2 26.5 7.7 2.6 44.50 34.92 13.93 13.84 13.64 -1% 0.8 0.8 16.5 16.7 3.7 3.7 14.48 10.96 19.10 18.02 19.19 6% 0.6 0.7 28.0 24.2 1.0 1.2 18.90 12.85 17.01 9.77 11.22 13% 0.8 0.8 12.6 11.9 4.5 4.5 10.46 6.91 19.15 22.45 28.13 20% 2.8 3.2 8.1 7.0 3.5 4.0 23.85 16.50 28.73 22.05 23.35 6% 1.4 1.6 15.8 13.8 3.1 3.3 24.95 18.80 14.60 14.34 14.26 -1% 1.4 1.5 10.0 9.6 5.6 5.7 15.50 10.70 16.40 3.84 4.40 13% 0.2 0.2 19.1 15.3 0.2 0.4 4.45 2.25 20.00 11.28 9.97 -13% -0.1 0.2 N/A 47.8 0.5 0.7 13.50 10.00 10.59 11.08 12.35 10% 1.5 1.7 7.2 6.6 2.9 3.7 12.78 10.54 -0.18 8.73 9.09 4% 0.1 0.1 14.6 13.9 1.1 0.4 9.48 7.28 12.07 3.09 3.15 2% 0.0 0.0 19.9 17.3 0.4 0.4 3.38 2.31 26.12 2.36 2.45 4% 0.0 0.0 N/A N/A 0.0 0.0 3.00 2.00 4.42 50.10 56.69 12% 0.4 0.4 17.6 15.8 0.2 0.3 54.15 41.50 14.51 35.05 37.86 7% 0.2 0.2 22.9 20.9 0.7 0.7 39.30 24.60 4.01 41.60 42.43 2% 1.6 1.7 26.1 24.2 1.2 1.3 42.35 21.87 23.08 Note : The above data based on Bloomberg consensus. Page 5 of 7
55. Daily Money Flow of Technical Stock Picks Hong Kong THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo No Name Tel: +603-2167 9607 Total Money Flow (HKD' mn) 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar stsoo@ta.com.my Total 5D MF (A) Prv. Chg (B) Cur. Chg www.taonline.com.my CLOSING PRICE 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar (A+B) DMF Chg HANG SENG 190.9 102.8 237.4 (36.2) 397.8 892.7 (273.6) 434.0 24,502.0 24,593.1 24,320.4 24,327.7 24,358.3 30.57 IN 1 2 3 4 5 6 7 8 HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP 40.2 (43.8) 37.5 11.0 (8.9) (4.8) (11.2) 10.9 (12.2) (1.3) 47.3 5.4 16.8 (11.5) 8.4 0.2 2.8 (0.4) (19.3) (1.0) 63.00 87.25 6.40 5.17 8.89 PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA (8.6) (13.2) (4.2) 0.0 (5.7) (0.1) (2.1) (44.9) 11.7 5.1 5.9 (1.5) 1.1 0.3 0.1 13.4 (10.8) (4.0) 3.5 3.0 6.7 (2.0) (1.7) 0.0 (13.4) 21.7 (6.5) 22.00 15.04 3.92 11.36 11.52 8.69 3.11 2.40 50.15 35.30 41.45 21.70 14.60 3.85 11.02 11.28 8.61 3.07 2.35 49.90 35.05 41.30 21.80 14.52 3.90 11.00 11.24 8.68 3.13 2.33 50.20 35.25 41.70 0.25 0.20 (0.14) (0.02) (0.15) 0.10 0.25 (0.18) 2.1 2.2 5.1 (1.1) (1.3) 0.0 5.7 2.4 (6.1) 21.85 14.92 3.94 11.20 11.34 8.70 3.12 2.46 49.90 35.65 41.60 6.77 42.95 13.84 18.02 9.77 22.45 22.05 14.34 ALCORP CATHAY CITIC COSCO FIH MOBILE GENHK AIA SANDS CHINA LTD GALAXY ENTERTAIN 0.4 0.2 (1.4) (0.8) (1.6) 0.9 0.4 (0.0) 19.1 (19.3) 0.3 0.2 3.1 (0.2) 1.0 (1.1) (11.5) (2.2) (1.5) 40 41 42 43 44 45 46 47 48 (2.3) 4.3 (6.6) (6.7) (0.1) (0.2) 0.1 (0.2) 5.7 (8.5) 4.4 (0.1) (6.2) 0.4 (4.5) (11.9) 5.8 2.7 (4.2) 10.12 32.15 6.52 42.75 13.98 18.04 9.92 22.35 0.6 3.2 (1.6) (5.6) (4.3) (0.3) (4.4) 0.1 (23.6) (13.8) 7.3 (1.5) (5.6) 1.9 6.2 8.2 38.6 (3.1) 2.6 10.08 31.80 6.58 42.85 13.84 18.50 9.85 22.05 0.1 (3.7) (1.0) (2.4) (3.4) 0.6 (0.4) (0.1) (9.1) (5.8) 5.9 0.1 0.2 (0.1) 0.3 (1.5) 1.2 (1.8) (1.4) 10.18 32.05 6.82 43.30 13.94 18.66 9.97 22.40 (0.20) 0.25 (0.04) (0.60) (0.02) 0.02 0.34 0.15 ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER 10.20 32.05 6.99 42.95 13.58 17.76 9.88 22.00 23.75 67.20 5.14 48.30 6.09 4.07 10.46 32.30 32 33 34 35 36 37 38 39 0.2 0.3 (0.1) (3.0) 0.0 (0.7) (0.4) 12.7 8.8 8.2 0.4 1.2 7.3 (1.5) (6.4) 2.4 20.65 69.00 23.95 66.95 5.18 48.90 6.11 4.05 5.5 (2.1) 0.0 3.3 (0.3) 3.7 11.5 6.9 4.0 7.2 (0.7) (1.6) 0.2 1.8 (5.2) 2.4 20.55 68.05 24.35 67.00 5.16 48.05 6.09 4.11 (5.3) (0.1) (0.8) (4.6) 2.4 3.4 (1.9) 12.2 39.9 (21.8) (5.4) 2.3 3.7 (0.4) 1.0 0.6 20.75 68.50 24.80 68.10 5.24 47.50 6.19 4.19 6.7 (0.1) (0.8) (1.6) (0.2) (0.4) 0.5 5.7 12.9 2.7 (0.3) 0.5 5.1 (1.3) (6.2) 2.6 20.50 68.50 24.50 68.25 5.24 46.90 6.20 4.18 0.15 0.00 0.60 (0.70) 0.00 0.60 0.05 0.00 CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA 1.2 10.6 4.0 (5.5) (0.8) (0.6) (2.2) 0.2 80.60 3.71 32.40 157.40 15.40 77.75 20.70 69.00 24 25 26 27 28 29 30 31 (1.3) (1.1) 0.1 (12.6) (0.1) 1.0 (2.4) (1.6) 10.3 1.2 19.7 (2.2) 4.7 3.9 (2.4) (13.9) 6.13 18.60 80.45 3.71 31.80 158.10 15.40 77.15 (0.3) (1.5) 17.6 (10.9) (2.2) 1.8 0.9 (0.0) (5.1) (3.1) 2.1 1.0 0.6 (5.7) 2.5 11.7 6.10 18.78 80.35 3.72 31.80 158.40 15.30 77.30 (1.9) (0.5) 5.3 4.5 (2.1) (0.4) 2.2 2.3 (6.3) (19.0) 26.4 (1.1) 2.5 2.9 (3.6) 4.2 6.11 18.90 80.50 3.81 32.15 160.00 15.14 77.75 (0.01) 2.20 0.00 0.00 0.20 0.07 (0.04) 6.0 (2.9) 20.9 (1.1) 3.5 0.7 (1.2) (3.3) 6.01 19.14 80.15 3.83 32.15 159.30 15.18 77.95 5.78 225.20 196.40 97.80 43.85 6.20 18.56 CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF (0.5) 2.5 (4.3) (4.1) 1.2 1.1 (1.2) (3.2) 50.3 95.0 27.4 26.8 (27.9) 6.4 16.6 16 17 18 19 20 21 22 23 10.1 7.1 0.7 (1.1) (0.9) 0.1 (1.8) 2.4 (24.5) (133.4) (29.8) (4.7) (14.1) (10.6) (4.5) 24.30 3.94 114.90 5.79 223.00 196.40 97.80 43.65 (14.0) 0.5 (1.3) (2.1) 1.8 (1.2) (0.6) 0.5 63.9 271.4 28.6 (11.3) 94.7 9.5 39.7 24.30 3.93 114.90 5.79 225.20 196.40 96.45 43.25 7.9 10.5 (7.4) (8.8) 3.3 0.0 2.6 2.6 42.6 51.5 7.2 13.1 (8.6) 5.9 19.1 25.20 3.99 115.10 5.90 228.80 199.70 96.95 44.20 0.00 (0.80) (0.01) (0.01) 0.35 (0.30) (0.02) (0.60) 9 10 11 12 13 14 15 25.20 3.97 114.80 5.87 228.20 200.40 97.00 43.40 63.00 86.45 6.39 5.16 9.24 24.00 3.92 114.30 OUT IN IN IN IN 12.7 24.9 3.8 (7.7) (43.5) (20.1) (13.7) 19.3 24.6 29.8 21.3 30.1 49.3 8.1 24.9 10.6 63.10 90.35 6.36 5.14 8.93 (4.2) 24.1 (6.8) 16.8 89.9 9.7 (8.9) 33.4 (47.1) (2.6) (17.2) (7.8) (9.4) 16.9 0.8 10.6 63.70 90.35 6.50 5.22 9.09 (2.5) 5.7 7.4 6.5 141.9 (1.7) 1.2 10.9 107.5 (14.2) 85.7 (21.1) 45.3 30.9 134.6 21.3 63.50 90.35 6.45 5.19 9.08 4.2 30.1 2.4 5.7 31.5 33.5 (3.0) 39.7 24.7 32.6 20.9 10.9 48.3 20.8 49.8 14.4 3.84 11.28 11.08 8.73 3.09 2.36 50.10 35.05 41.60 (0.06) 0.28 (0.16) 0.05 (0.04) 0.03 (0.10) (0.20) (0.10) IN IN IN IN OUT OUT IN OUT OUT IN IN OUT IN OUT IN OUT IN OUT IN IN OUT OUT IN IN OUT IN IN OUT IN OUT OUT OUT IN OUT IN IN IN OUT OUT IN OUT IN OUT Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Page 6 of 7
56. LIST OF RECOMMENDED BUY STOCKS FROM JULY 2015 TO CURRENT Stock AIA GROUP AIA GROUP AIA GROUP AIA GROUP AIA GROUP BANK OF CHINA BANK OF CHINA BELLE INT 'NAL CHINA LIFE CHINA LIFE CHINA PETROLEUM CHINA RESOURCES BEER CHINA RESOURCES BEER CHINA UNICOM CHINA UNICOM CNOOC CNOOC COSCO FIH MOBILE FIH MOBILE GALAXY ENTERTAINMENT GALAXY ENTERTAINMENT GALAXY ENTERTAINMENT HSBC ICBC ICBC ICBC LI & FUNG PETROCHINA PING AN PING AN SANDS CHINA LTD SANDS CHINA LTD SANDS CHINA LTD Total funds invested * Total unrealised profit Return REC BUY Date Price 2-Nov 14-Apr 3-Mar 17-Jan 24-Mar 11-Nov 6-Jan 20-Sep 6-Sep 13-Jan 1-Dec 9-Aug 20-Jan 29-Sep 1-Dec 23-Nov 10-Mar 7-Feb 20-Jan 1-Oct 18-Aug 17-Nov 15-Feb 19-Oct 25-Aug 20-May 8-Nov 21-Mar 25-Mar 14-Jul 14-Mar 11-Oct 19-Feb 22-Feb 24-Mar-17 Price 48.50 44.60 41.95 46.45 50.20 3.46 3.50 5.45 19.32 21.35 5.42 15.54 14.52 9.54 9.60 10.24 8.89 7.95 2.85 3.55 27.45 33.50 37.85 59.00 4.90 3.83 4.69 3.83 5.14 34.95 41.75 34.80 27.60 31.75 50.10 50.10 50.10 50.10 50.10 3.92 3.92 5.14 24.00 24.00 6.20 18.02 18.02 10.46 10.46 9.24 9.24 8.73 3.09 3.09 41.60 41.60 41.60 63.00 5.16 5.16 5.16 3.71 5.78 43.85 43.85 35.05 35.05 35.05 Change (+/-) 1.60 5.50 8.15 3.65 (0.10) 0.46 0.42 (0.31) 4.68 2.65 0.78 2.48 3.50 0.92 0.86 (1.00) 0.35 0.78 0.24 (0.46) 14.15 8.10 3.75 4.00 0.26 1.33 0.47 (0.12) 0.64 8.90 2.10 0.25 7.45 3.30 723,920 89,730 12.40% pct ST 3.30 53.17 12.33 53.17 19.43 53.17 7.86 53.17 (0.20) 53.17 13.29 4.25 12.00 4.25 (5.69) 5.47 24.22 27.58 12.41 27.58 14.39 6.56 15.96 18.62 24.10 18.62 9.64 10.87 8.96 10.87 (9.77) 10.09 3.94 10.09 9.81 8.88 8.42 3.23 (12.96) 3.23 51.55 46.30 24.18 46.30 9.91 46.30 6.78 70.28 5.31 5.27 34.73 5.27 10.02 5.27 (3.13) 4.04 12.45 6.10 25.46 46.70 5.03 46.70 0.72 38.39 26.99 38.39 10.39 38.39 Upside Targets MT LT 58.20 63.23 58.20 63.23 58.20 63.23 58.20 63.23 58.20 63.23 4.60 5.00 4.60 5.00 5.91 7.05 31.15 34.73 31.15 34.73 7.19 8.23 19.89 21.01 19.89 21.01 11.85 12.83 11.85 12.83 10.96 12.04 10.96 12.04 9.42 9.97 3.51 3.79 3.51 3.79 54.80 63.30 54.80 63.30 54.80 63.30 78.25 86.12 5.64 6.09 5.64 6.09 5.64 6.09 4.50 4.87 6.78 7.60 50.52 55.25 50.52 55.25 42.56 49.30 42.56 49.30 42.56 49.30 ST 6.13 6.13 6.13 6.13 6.13 8.42 8.42 6.42 14.92 14.92 5.81 3.33 3.33 3.92 3.92 9.20 9.20 1.72 4.53 4.53 11.30 11.30 11.30 11.56 2.13 2.13 2.13 8.89 5.54 6.50 6.50 9.53 9.53 9.53 % Upside MT 16.17 16.17 16.17 16.17 16.17 17.35 17.35 14.98 29.79 29.79 15.97 10.38 10.38 13.29 13.29 18.61 18.61 7.90 13.59 13.59 31.73 31.73 31.73 24.21 9.30 9.30 9.30 21.29 17.30 15.21 15.21 21.43 21.43 21.43 LT 26.21 26.21 26.21 26.21 26.21 27.55 27.55 37.16 44.71 44.71 32.74 16.59 16.59 22.66 22.66 30.30 30.30 14.20 22.65 22.65 52.16 52.16 52.16 36.70 18.02 18.02 18.02 31.27 31.49 26.00 26.00 40.66 40.66 40.66 Upside Targets ** ST = Short Term (one month) MT = Medium Term (three months) LT = Long Term (above six months) * The portfolio assumes each position consists of 1,000 shares and no deductions for any charges, fees and commision ** Upside Targets are derived from the subsequent Fibonacci Projection levels The above table is a performance summary of our top BUY recommendations from JULY 2015 to current (sorted by name) together with upside targets, which are taken from subsequent Fibonacci Projection targets which could be achieved in one month (ST), three months (MT) and above six months (LT) from recommendation date. Interpretation: Investors should aim to take profit/sell trading positions when the percentage upside on the last three columns falls to 5% or below (shaded column). A negative percentage value indicates the upside target for the particular time-frame has been breached. Any revision in upside targets will be highlighted in bold. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 7 of 7
57. TA Securities T e c h n i c a l V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Technical Stock Picks Singapore THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my SINGTEL LTD Upper Middle Lower BOLLINGER BANDS SGD SGD SGD DMI Recent Signal Signal Change SGD3.91 4.00 3.94 3.87 SELL SIMPLE MOVING AVERAGES SGD 3.95 SGD 3.95 SGD 3.91 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day CAPITALAND LTD ZZZXX Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS SGD SGD SGD DMI www.taonline.com.my 3.76 3.65 3.54 BUY SGD3.69 SIMPLE MOVING AVERAGES SGD 3.69 SGD 3.61 SGD 3.48 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 1 of 7
58. S ’PORE AIRLINES LTD BOLLINGER BANDS SGD SGD SGD DMI Upper Middle Lower Recent Signal Signal Change 10.06 9.97 9.88 BUY SGD10.05 SIMPLE MOVING AVERAGES SGD 10.00 SGD 9.93 SGD 9.93 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day CITY DEVELOPMENTS LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS SGD SGD SGD DMI 10.84 10.03 9.22 BUY SGD10.42 SIMPLE MOVING AVERAGES SGD 10.40 SGD 9.81 SGD 9.55 DAILY MACD Recent Signal SELL Signal Change SELL 10-day 30-day 50-day Page 2 of 7
59. CAPITALAND MALL TRUST Upper Middle Lower BOLLINGER BANDS SGD SGD SGD DMI Recent Signal Signal Change 1 .97 1.94 1.92 BUY BUY SGD1.96 SIMPLE MOVING AVERAGES SGD 1.94 SGD 1.95 SGD 1.96 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day INDOFOOD AGRI RESOURCES LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS SGD SGD SGD DMI SGD0.53 0.54 0.52 0.51 10-day 30-day 50-day SELL SELL Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES SGD 0.53 SGD 0.53 SGD 0.54 DAILY MACD BUY
60. WEEKLY FOREIGN STOCK WATCH UPDATE The table below consists of the revamped 30 SGX FTSE Straits Times Index component stocks , sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Stock Name FSSTI SINGTEL DBS OCBC UOB JARDINE M. WILMAR HK LAND CAPLAND GENSP KEPPEL SGX SIA FNN NOBLE CITY DEV JARDINE S. SG PRESS JARDINE C&C GOLDEN AGRI SG TECH OLAM INT CAP TRUST SEMBCORP SEMCORP M. CMFT DELGRO STARHUB SIA ENG IFOOD AGRI YZJ Close Bollinger Bands RSI Change High Low 24-Mar Lower Mid Upper 14d 3,142.90 15.97 3,148.89 3,124.47 3,097.58 3,135.47 3,173.36 55.35 3.91 18.79 9.57 21.78 66.00 3.54 7.24 3.69 0.99 6.80 7.55 10.05 2.33 0.19 10.42 40.72 3.56 44.98 0.39 3.68 1.86 1.96 3.12 1.85 2.52 2.88 3.66 0.53 1.13 0.02 0.14 0.07 0.17 (0.32) 0.00 (0.01) 0.04 (0.01) 0.04 0.05 0.01 0.11 (0.00) 0.20 (0.42) (0.01) 0.76 (0.01) 0.04 (0.01) 0.01 (0.01) 0.00 0.02 0.02 0.00 0.01 0.03 3.92 18.81 9.60 21.92 66.34 3.56 7.24 3.70 1.00 6.84 7.57 10.05 2.33 0.19 10.49 41.01 3.59 45.11 0.39 3.69 1.89 1.97 3.15 1.87 2.54 2.89 3.71 0.53 1.14 3.86 18.66 9.49 21.59 65.54 3.52 7.14 3.64 0.98 6.78 7.51 9.98 2.22 0.19 10.17 40.59 3.55 44.23 0.39 3.66 1.86 1.95 3.10 1.85 2.50 2.86 3.66 0.52 1.12 3.87 18.63 9.42 21.32 62.93 3.51 6.74 3.54 0.97 6.55 7.41 9.88 2.00 0.18 9.22 37.64 3.43 41.83 0.37 3.61 1.83 1.92 3.10 1.75 2.46 2.82 3.65 0.51 0.96 3.94 18.98 9.55 21.61 65.36 3.60 7.05 3.65 0.99 6.89 7.53 9.97 2.12 0.21 10.03 39.49 3.51 44.12 0.38 3.67 1.95 1.94 3.21 1.90 2.51 2.87 3.69 0.52 1.09 4.00 19.32 9.68 21.90 67.79 3.69 7.36 3.76 1.01 7.23 7.65 10.06 2.24 0.24 10.84 41.34 3.59 46.41 0.39 3.73 2.08 1.97 3.33 2.05 2.55 2.92 3.73 0.54 1.22 46.69 47.34 51.91 58.46 56.87 37.39 65.13 58.71 49.11 52.36 51.19 57.79 76.08 37.76 62.79 62.19 59.39 58.78 45.06 57.01 28.16 53.99 42.32 55.01 55.83 52.37 48.82 50.29 63.31 Moving Averages 10d 30d 50d DI + 3,147.32 3,125.13 3,092.48 29.10 DI 26.27 ADX 24.50 3.95 18.98 9.59 21.69 65.79 3.58 7.17 3.69 0.99 6.77 7.57 10.00 2.15 0.20 10.40 39.85 3.54 44.72 0.38 3.67 1.90 1.94 3.17 1.87 2.52 2.86 3.69 0.53 1.12 22.67 28.25 22.97 16.96 18.16 25.84 13.34 20.12 16.10 25.50 21.56 13.28 7.12 27.93 16.33 11.95 10.45 22.71 15.04 15.14 28.66 12.42 25.27 20.02 20.57 21.50 11.27 21.39 14.87 16.57 (7.00) 0.00 16.41 (4.68) 0.03 11.57 0.31 0.02 24.44 13.71 0.14 27.90 4.42 0.83 27.34 (11.44) -0.06 32.43 13.43 0.11 35.57 5.33 0.06 18.63 1.43 0.00 26.55 5.85 0.05 13.11 (0.45) 0.01 12.67 1.53 0.03 19.33 35.57 0.03 23.16 (11.61) -0.01 42.31 17.34 0.28 29.39 16.85 0.59 31.08 15.87 0.02 12.93 3.84 0.69 24.82 (3.62) -0.01 23.51 8.26 0.04 35.34 (18.84) -0.04 12.70 3.04 0.00 22.30 (2.58) -0.01 37.88 13.32 0.05 11.47 (1.73) 0.01 12.12 (0.91) 0.00 30.31 3.70 0.01 12.40 (1.09) 0.00 44.26 17.86 0.05 3.95 18.85 9.55 21.48 64.85 3.68 6.98 3.61 0.99 6.80 7.55 9.93 2.12 0.22 9.81 39.17 3.50 43.36 0.39 3.63 2.00 1.95 3.21 1.79 2.48 2.85 3.68 0.53 1.04 3.91 18.78 9.51 21.22 63.41 3.76 6.90 3.48 0.98 6.57 7.53 9.93 2.12 0.20 9.55 38.43 3.50 42.67 0.41 3.51 2.00 1.96 3.19 1.67 2.47 2.90 3.62 0.54 0.95 15.67 23.57 23.28 30.68 22.59 14.41 26.78 25.44 17.53 31.35 21.10 14.81 42.70 16.32 33.67 28.81 26.32 26.55 11.42 23.40 9.82 15.46 22.69 33.33 18.84 20.59 14.97 20.31 32.73 DMI Diff 2.83 MACD DMI MACD DMI MACD Line Signal Diff Recent Signal Signal Change 15.61 20.22 (4.610) BUY SELL BUY 0.01 0.10 0.03 0.16 0.92 -0.06 0.10 0.07 0.01 0.08 0.01 0.03 0.01 0.00 0.28 0.54 0.01 0.71 -0.01 0.05 -0.03 -0.01 0.01 0.08 0.01 0.00 0.02 0.00 0.06 (0.009) (0.063) (0.011) (0.016) (0.082) (0.001) 0.016 (0.011) (0.002) (0.036) (0.004) 0.006 0.020 (0.005) (0.001) 0.056 0.010 (0.019) 0.002 (0.013) (0.010) 0.002 (0.017) (0.022) (0.001) 0.003 (0.010) 0.001 (0.007) SELL SELL BUY BUY BUY SELL BUY BUY BUY BUY SELL BUY BUY SELL BUY BUY BUY BUY SELL BUY SELL BUY SELL BUY SELL SELL BUY SELL BUY SELL SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL BUY BUY SELL SELL BUY BUY SELL BUY SELL SELL BUY SELL SELL SELL BUY SELL BUY SELL BUY - SELL BUY BUY SELL - INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average, and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 4 of 7
61. Fundamentals of Foreign Technical Picks Bloomberg Ticker ST DBS OCBC UOB JM WIL HKL CAPL GENS KEP SGX SIA FNN NOBL CIT JS SPH JCNC GGR STE OLAM CT SCI SMM CD STH SIE IFAR SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP Stock Name Close Target Price % upside SINGTEL DBS OCBC UOB JARDINE M. WILMAR HK LAND CAPLAND GENSP KEPPEL SGX SIA FNN NOBLE CITY DEV JARDINE S. SG PRESS JARDINE C&C GOLDEN AGRI SG TECH OLAM INT CAP TRUST SEMBCORP SEMCORP M. CMFT DELGRO STARHUB SIA ENG IFOOD AGRI 3.91 4.25 18.79 YZJSGD SP YZJ EPS ($) PER(x) Div Yield(%) % Chg 52week Price 2017 2018 2017 2018 2017 2018 High Low YTD 8% 0.2 0.3 16.1 15.2 4.6 4.8 4.36 3.59 7.12 19.44 3% 1.789 1.963 10.5 9.6 3.3 3.4 19.37 14.63 8.36 9.57 9.57 0% 0.9 0.9 11.2 10.2 3.8 4.0 9.78 8.21 7.29 21.78 21.18 -3% 1.9 2.1 11.3 10.5 3.3 3.4 22.04 17.41 6.76 66.00 63.99 -0.03 4.1 4.4 16.2 15.2 2.4 2.5 67.27 52.42 19.46 3.54 3.80 7% 0.2 0.2 12.7 11.8 2.0 2.2 4.00 2.96 -1.39 7.24 7.38 2% 0.4 0.4 18.3 17.9 2.7 2.7 7.35 5.77 14.38 3.69 4.01 8% 0.2 0.2 17.7 18.5 2.7 2.8 3.79 2.85 22.19 0.99 1.06 7% 0.0 0.0 28.1 25.3 2.9 3.0 1.04 0.69 8.84 6.80 6.89 1% 0.5 0.6 13.2 12.3 3.2 3.4 7.23 5.10 17.44 7.55 7.83 4% 0.3 0.4 22.6 20.9 3.9 4.2 8.05 6.96 5.45 10.05 9.71 -3% 0.4 0.4 22.5 23.1 3.5 2.7 11.67 9.60 3.93 2.33 2.03 -14% 0.1 0.1 31.5 31.1 1.8 1.9 2.33 1.92 11.48 0.19 0.22 0.15 0.0 0.0 8.9 6.0 0.0 0.0 0.36 0.11 9.41 10.42 10.73 3% 0.6 0.7 16.2 15.1 1.4 1.4 10.65 7.67 25.85 40.72 40.36 -1% 2.7 2.9 14.9 13.9 0.8 0.8 41.14 27.35 22.65 3.56 3.19 -12% 0.2 0.2 23.3 23.3 4.8 4.6 4.13 3.45 0.85 44.98 49.97 10% 2.1 2.3 15.0 13.7 1.8 2.0 46.23 31.60 9.10 0.39 0.39 1% 0.0 0.0 17.2 14.5 1.8 1.8 0.45 0.33 -10.47 3.68 3.62 -2% 0.2 0.2 21.3 20.3 4.2 4.3 3.77 3.01 13.93 1.86 1.99 7% 0.1 0.1 14.0 14.0 2.4 2.5 2.17 1.58 -5.58 1.96 2.13 8% 0.1 0.1 17.1 16.7 5.6 5.6 2.25 1.87 3.71 3.12 3.52 11% 0.2 0.3 12.9 10.8 2.9 3.3 3.38 2.44 9.47 1.85 1.65 -12% 0.1 0.1 34.3 26.1 1.4 1.7 2.09 1.22 34.06 2.52 2.94 14% 0.2 0.2 16.1 15.5 4.4 4.8 3.02 2.37 2.02 2.88 2.64 -9% 0.2 0.2 17.9 18.7 5.6 5.5 3.97 2.73 2.49 3.66 3.55 -3% 0.2 0.2 23.8 23.6 4.2 4.0 3.91 3.35 8.61 0.53 0.58 9% 436 583 11.6 8.6 12183 17790 0.63 0.44 0.95 1.13 1.07 -5% 0.5 0.5 11.4 12.0 17.3 17.3 1.19 0.71 38.65 Note : The above data based on Bloomberg consensus. Page 5 of 7
62. Daily Money Flow of Technical Stock Picks Singapore THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo Tel: +603-2167 9607 Total Money Flow (SGD' mn) stsoo@ta.com.my (35.5) (A) Prv. Chg (0.7) (B) Cur. Chg 18.3 3.1 2.1 (1.9) (6.7) (3.6) (2.9) 5.1 7.2 0.7 1.2 (1.4) (5.7) 1.9 1.2 0.9 3.3 0.1 (0.5) (0.2) 1.1 0.9 0.2 (0.0) 0.8 (0.3) 1.0 (0.6) (0.1) (1.0) (0.9) 0.2 (1.3) (0.3) (7.4) (0.1) (1.1) 0.1 (0.1) (0.4) (0.1) 0.0 0.3 (0.1) (0.0) (0.3) 0.0 0.3 0.1 (0.0) 0.0 (0.1) (0.2) (2.3) 19 GOLDEN AGRI 0.0 (0.2) 20 SG TECH 21 OLAM INT 22 CAP TRUST 23 SEMBCORP 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar Total 5D MF FSSTI (8.3) (6.5) (12.6) (13.2) 5.1 1 SINGTEL 2 DBS (3.3) (0.7) (1.2) (0.8) 1.6 (2.2) (2.0) (5.1) 3 OCBC 4 UOB (0.6) 0.8 (2.1) (0.2) (0.4) 0.3 (1.1) 0.7 (3.3) 0.1 (2.1) 0.1 7 HK LAND (0.5) 0.3 0.3 0.1 (0.7) 0.5 8 CAPLAND 9 GENSP (1.6) (0.1) (2.9) 0.0 (0.7) 0.0 10 KEPPEL 11 SGX (0.6) 0.7 12 SIA (0.2) (0.1) 0.3 (0.0) 13 FNN 14 NOBLE 0.0 (0.6) 15 CITY DEV 16 JARDINE S. No Name 5 JARDINE M. 6 WILMAR 17 SG PRESS 18 JARDINE C&C 24 SEMCORP M. 25 CMFT DELGRO 26 STARHUB www.taonline.com.my CLOSING PRICE 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar (A+B) DMF Chg 15.97 IN 3,165.7 3,158.6 3,118.2 3,126.9 3,142.9 4.00 19.01 3.94 19.00 3.92 18.67 3.89 18.65 3.91 18.79 0.02 0.14 IN IN 9.45 21.53 9.50 21.61 9.57 21.78 0.07 0.17 IN 65.45 3.51 66.32 3.54 66.00 3.54 IN 9.63 9.62 21.86 67.00 21.80 66.75 (0.1) 3.59 7.21 3.55 7.26 7.24 7.25 7.24 (0.3) 0.1 (0.4) (0.5) 3.72 1.00 3.73 1.00 3.66 0.98 3.65 1.00 3.69 0.99 IN (0.32) OUT 0.00 IN (0.01) OUT 0.04 OUT (0.01) OUT (0.7) (0.2) 1.2 0.0 0.2 0.1 6.85 6.83 6.76 7.50 6.80 7.55 0.04 0.05 (0.3) 0.5 0.2 7.59 10.04 6.72 7.49 0.2 7.62 10.00 9.96 10.04 10.05 0.01 0.1 0.5 (0.0) (0.7) 0.1 (0.8) 0.1 0.3 (0.1) (1.2) 2.13 0.20 2.11 0.19 2.13 0.18 2.22 0.19 2.33 0.19 (0.2) (0.2) (0.0) (1.4) 0.1 (0.2) 0.5 0.7 10.45 (0.7) (0.6) 0.3 (0.0) 10.54 (0.5) (1.3) 10.22 41.14 10.42 40.72 0.1 0.2 (0.5) 0.3 0.1 (0.7) (5.0) 0.4 0.7 0.6 (0.2) 0.6 39.89 3.58 10.23 39.45 (0.7) 0.7 39.75 3.55 0.11 OUT (0.00) OUT 0.20 IN (0.42) IN 3.57 44.22 3.56 44.98 (0.01) 0.76 (0.7) (0.9) 0.4 45.35 0.39 3.57 44.31 (0.2) 45.35 0.39 0.39 0.39 0.39 (0.2) (0.1) 0.1 (0.0) (0.2) (0.1) (0.3) (0.1) 0.1 (0.0) (0.4) (0.3) (0.0) 0.1 0.4 0.1 3.68 1.90 3.67 1.91 3.63 1.87 3.64 1.87 3.68 1.86 (0.2) (0.8) 0.3 (0.6) 0.2 (0.2) 0.7 0.2 (1.0) 0.6 1.1 (1.0) 1.95 (0.5) (0.3) (0.8) 0.1 1.93 (0.1) (0.3) 0.5 (0.2) 1.96 3.12 (0.2) 0.9 0.8 (0.1) 0.2 (1.1) (0.2) (0.3) (0.5) 0.6 0.4 (0.4) (0.1) 0.3 3.19 1.89 1.95 3.13 0.1 0.1 3.21 1.90 1.94 3.10 1.85 2.52 (0.8) 0.9 0.1 2.51 2.89 1.85 2.50 (0.1) 2.51 2.91 1.86 2.50 (0.2) (0.2) 0.0 (0.1) (0.0) 0.1 3.71 0.53 (2.6) 0.4 0.1 1.13 27 SIA ENG 28 IFOOD AGRI (0.1) 0.0 (0.0) (0.0) (0.0) (0.1) (0.0) (0.1) (0.1) 0.0 29 YZJ 0.0 0.0 (1.2) (0.8) (0.7) 2.85 2.86 2.88 3.71 0.53 3.66 0.53 3.66 0.53 3.66 0.53 1.13 1.11 1.11 1.13 IN IN IN IN (0.01) OUT 0.04 IN (0.01) IN 0.01 IN (0.01) OUT 0.00 IN 0.02 OUT 0.02 IN 0.00 OUT 0.01 IN 0.02 IN Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Page 6 of 7
63. LIST OF RECOMMENDED BUY STOCKS FROM JULY 2015 TO CURRENT Stock CAPITALAND CAPITALAND CAPITALAND CAPITALAND CITY DEVELOPMENTS CITY DEVELOPMENTS CITY DEVELOPMENTS COMFORTDELGRO CAPITAMALL TRUST DBS DBS GENTING S 'PORE GOLDEN AGRI-RESOURCES HONGKONG LAND HONGKONG LAND HONGKONG LAND JARDINE STRATEGIC NOBLE GROUP OCBC OCBC SEMBCORP INDUSTRIES SIA ENGINEERING SINGTEL SINGTEL SINGTEL S'PORE AIRLINES S'PORE AIRLINES S'PORE AIRLINES S'PORE AIRLINES S'PORE EXCHANGE UOB WILMAR INT'L Total funds invested * Total unrealised profit Return REC BUY 24-Mar-17 Date Price Price 3.69 21-Apr 3.17 3.69 7-Oct 2.95 3.69 8-Jul 3.52 3.69 19-Jan 3.12 10.42 30-Aug 8.62 10.42 15-Dec 7.03 10.42 7-Mar 9.63 2.52 14-Jun 2.65 1.96 5-Jan 1.93 18.79 20-Oct 15.08 18.79 21-Jul 16.23 0.99 25-Feb 0.74 0.39 1-Mar 0.38 7.24 17-Mar 6.10 7.24 22-Sep 6.82 7.24 8-Dec 6.47 40.72 27-Oct 34.55 0.19 14-Feb 0.20 9.57 12-Oct 8.66 9.57 15-Nov 8.72 3.12 24-Feb 3.36 3.66 28-Jun 3.66 3.91 9-Sep 4.06 3.91 9-Sep 3.65 3.91 12-Jan 3.79 10.05 4-Feb 10.92 10.05 27-Aug 9.85 10.05 2-Jul 10.75 10.05 10-Nov 9.82 7.55 4-Nov 7.04 21.78 13-May 17.64 3.54 28-Jul 3.08 Change (+/-) 0.52 0.74 0.17 0.57 1.80 3.39 0.79 (0.13) 0.03 3.71 2.56 0.25 0.01 1.14 0.42 0.77 6.17 (0.01) 0.91 0.85 (0.24) 0.00 (0.15) 0.26 0.12 (0.87) 0.20 (0.70) 0.23 0.51 4.14 0.46 234,182 28,609 12.22% Upside Targets pct ST MT LT 16.40 3.80 4.05 4.21 25.08 3.80 4.05 4.21 4.83 3.80 4.05 4.21 18.27 3.80 4.05 4.21 20.88 10.75 11.75 12.36 48.22 10.75 11.75 12.36 8.20 10.75 11.75 12.36 (4.91) 2.64 2.97 3.27 1.30 2.10 2.17 2.28 24.60 20.37 22.09 23.16 15.77 20.37 22.09 23.16 34.01 1.04 1.12 1.18 1.32 0.40 0.47 0.53 18.69 7.56 8.03 8.80 6.16 7.56 8.03 8.80 11.90 7.56 8.03 8.80 17.86 42.07 44.06 45.67 (5.58) 0.20 0.24 0.27 10.51 10.09 10.92 11.74 9.75 10.09 10.92 11.74 (7.14) 3.32 3.52 3.84 0.00 3.81 4.00 4.18 (3.69) 4.11 4.28 4.57 7.12 4.11 4.28 4.57 3.17 4.11 4.28 4.57 (7.97) 10.35 10.84 11.23 2.03 10.35 10.84 11.23 (6.51) 10.35 10.84 11.23 2.34 10.35 10.84 11.23 7.24 7.94 8.23 8.80 23.47 22.87 24.75 26.62 14.94 3.70 4.00 4.36 ST 2.98 2.98 2.98 2.98 3.17 3.17 3.17 4.76 7.42 8.41 8.41 5.58 3.90 4.42 4.42 4.42 3.32 7.53 5.43 5.43 6.41 4.10 5.12 5.12 5.12 2.99 2.99 2.99 2.99 5.17 5.00 4.52 % Upside MT 9.76 9.76 9.76 9.76 12.76 12.76 12.76 17.86 11.00 17.56 17.56 13.71 22.08 10.91 10.91 10.91 8.20 29.03 14.11 14.11 12.82 9.29 9.46 9.46 9.46 7.86 7.86 7.86 7.86 9.01 13.64 12.99 LT 14.09 14.09 14.09 14.09 18.62 18.62 18.62 29.76 16.62 23.26 23.26 19.80 37.66 21.55 21.55 21.55 12.16 45.16 22.68 22.68 23.08 14.21 16.88 16.88 16.88 11.74 11.74 11.74 11.74 16.56 22.22 23.16 Upside Targets ** ST = Short Term (one month) MT = Medium Term (three months) LT = Long Term (above six months) * The portfolio assumes each position consists of 1,000 shares and no deductions for any charges, fees and commision ** Upside Targets are derived from the subsequent Fibonacci Projection levels The above table is a performance summary of our top BUY recommendations from JULY 2015 to current (sorted by name) together with upside targets, which are taken from subsequent Fibonacci Projection targets which could be achieved in one month (ST), three months (MT) and above six months (LT) from recommendation date. Interpretation: Investors should aim to take profit/sell trading positions when the percentage upside on the last three columns falls to 5% or below (shaded column). A negative percentage value indicates the upside target for the particular time-frame has been breached. Any revision in upside targets will be highlighted in bold. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 7 of 7
64. TA Securities T e c h n i c a l V i e w Monday , March 27, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Weekly Technical Stock Picks United States THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my BOEING CO Upper Middle Lower BOLLINGER BANDS USD USD USD DMI Recent Signal Signal Change USD175.82 184.01 179.64 175.28 SELL SELL SIMPLE MOVING AVERAGES USD 178.02 USD 177.12 USD 171.28 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day JPMORGAN CHASE & CO ZZXX Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS USD USD USD DMI www.taonline.com.my 94.29 90.68 87.06 SELL USD87.29 SIMPLE MOVING AVERAGES USD 89.66 USD 90.44 USD 88.45 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 1 of 7
65. MERCK & CO INC Upper Middle Lower BOLLINGER BANDS USD USD USD DMI Recent Signal Signal Change USD63.18 67.22 64.97 62.72 SELL SIMPLE MOVING AVERAGES USD 63.91 USD 65.09 USD 64.03 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day BP PLC Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS USD USD USD DMI USD33.78 34.51 33.96 33.41 SELL SIMPLE MOVING AVERAGES USD 33.98 USD 33.95 USD 34.89 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 7
66. CITIGROUP INC Upper Middle Lower BOLLINGER BANDS USD USD USD DMI Recent Signal Signal Change USD58 .07 62.77 60.24 57.71 SELL SIMPLE MOVING AVERAGES USD 59.69 USD 60.12 USD 58.92 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day ALIBABA GRP HLG LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS USD USD USD DMI USD108.04 108.01 104.55 101.08 BUY 10-day 30-day 50-day Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES USD 105.91 USD 103.75 USD 102.23 DAILY MACD BUY
67. WEEKLY FOREIGN STOCK WATCH UPDATE The table below consists of the 30 NYSE Dow Jones Industrial Average component stocks , sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Stock Name DOW JONES Close Change 24-Mar 20,596.72 -59.86 IBM 3M CHEVRON CATERPILLAR MCDONALDS UNITECH BOEING EXXON MOBIL J&J P&G COCA-COLA WAL-MART TRAVELERS DUPONT GOLDMAN JPMORGAN AMEX MERCK WALT DISNEY VERIZON HOME DEPOT UTD HEALTH AT&T MICROSOFT CISCO INTEL PFIZER GE NIKE VISA AIG BANK OF AMERICA BP CITIGROUP LV SANDS MS WELLS FARGO FACEBOOK INC-A APPLE INC ALIBABA GRP-ADR 173.83 191.51 107.99 92.15 129.34 111.80 175.82 81.23 125.48 90.57 42.12 69.61 120.77 79.60 228.41 87.29 78.20 63.18 112.14 49.68 147.71 165.00 41.68 64.98 34.08 35.16 34.00 29.72 56.36 89.19 60.88 23.12 33.78 58.07 55.62 42.46 55.83 140.34 140.64 108.04 -0.99 -0.63 0.12 -0.08 0.34 -0.04 -1.44 -0.63 -0.42 -0.20 -0.05 -0.25 -0.52 -0.96 -3.49 -0.10 0.36 -0.10 -0.10 0.04 -0.28 -0.29 0.03 0.11 0.12 -0.11 -0.29 0.10 0.99 0.33 -0.46 0.05 -0.28 0.02 0.03 -0.13 0.58 0.81 -0.28 -0.21 High Low Mid 20,863.82 RSI Moving Averages Upper 14d 10d 21,121.20 42.65 20800.66 30d 20,782.29 DMI MACD 50d DI + DI - ADX Diff Line Signal 20,449.29 23.55 29.09 31.25 (5.55) 52.35 121.04 DMI Diff Recent Signal (68.688) SELL MACD 20,718.33 Bollinger Bands Lower 20,529.67 20,606.45 175.50 192.58 108.42 93.24 129.67 112.28 177.52 81.89 126.36 90.92 42.25 70.16 121.41 81.06 233.70 88.09 78.84 63.53 112.58 49.83 150.15 167.40 41.89 65.44 34.30 35.73 34.26 29.81 56.64 89.61 61.77 23.35 33.91 58.54 55.97 43.00 56.05 141.02 141.74 109.13 173.41 190.92 107.70 91.56 129.17 111.34 174.78 81.15 125.14 90.21 41.91 69.53 120.24 79.27 226.97 86.78 77.88 62.87 111.68 49.50 147.05 164.35 41.55 64.77 33.96 35.13 33.94 29.54 55.12 88.97 60.44 22.76 33.74 57.61 55.23 42.15 55.22 139.76 140.35 107.23 177.55 190.38 110.07 93.95 128.24 112.40 179.64 81.92 125.59 90.91 42.15 70.23 122.51 80.14 245.35 90.68 79.31 64.97 111.38 49.78 147.23 168.11 42.06 64.61 34.18 35.56 34.27 29.83 56.96 89.09 62.99 24.71 33.96 60.24 54.99 45.40 58.00 138.46 139.59 104.55 182.46 193.82 114.56 97.97 129.40 113.61 184.01 83.17 129.57 91.73 42.56 71.23 124.59 81.77 260.58 94.29 81.26 67.22 112.81 50.47 149.34 171.85 42.66 65.29 34.44 36.37 34.66 30.29 59.03 90.43 65.02 26.48 34.51 62.77 57.53 48.52 60.61 141.20 141.96 108.01 178.58 188.04 110.59 95.18 127.86 112.29 177.12 81.99 123.23 90.69 41.80 70.09 122.09 79.51 246.60 90.44 79.38 65.09 110.93 49.57 145.78 166.01 41.85 64.57 33.87 35.75 33.98 29.96 56.95 88.52 63.30 24.56 33.95 60.12 54.14 45.60 57.99 137.09 138.19 103.75 176.57 183.51 112.02 95.03 125.84 111.44 171.28 83.02 119.38 89.11 41.67 68.91 120.33 77.84 242.48 88.45 78.45 64.03 110.12 49.81 142.30 163.96 41.67 64.15 32.59 36.19 33.12 30.07 55.47 86.41 64.14 23.89 34.89 58.92 54.04 44.70 57.06 134.43 132.50 102.23 (0.627) (0.282) (0.087) (0.130) (0.052) (0.146) (1.089) 0.083 (0.443) (0.186) (0.017) (0.144) (0.339) (0.257) (2.690) (0.709) (0.293) (0.331) (0.016) 0.018 (0.334) (0.726) (0.093) (0.009) (0.140) (0.003) (0.086) (0.006) (0.301) (0.289) (0.192) (0.341) 0.082 (0.470) 0.060 (0.553) (0.481) (0.195) (0.399) 0.253 SELL SELL SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL BUY SELL BUY SELL SELL SELL SELL BUY 172.64 186.94 105.57 89.93 127.08 111.20 175.28 80.68 121.61 90.08 41.75 69.23 120.43 78.50 230.13 87.06 77.35 62.72 109.95 49.08 145.11 164.37 41.46 63.92 33.91 34.75 33.88 29.37 54.90 87.74 60.96 22.95 33.41 57.71 52.44 42.29 55.39 135.72 137.21 101.08 38.41 64.68 39.66 43.28 67.73 47.94 48.46 41.34 59.55 52.03 52.84 47.35 43.92 50.59 25.49 35.44 44.92 36.43 59.90 48.48 59.42 44.56 45.62 55.50 59.89 40.86 51.36 46.49 49.56 57.77 30.22 33.05 44.09 38.24 56.23 32.22 38.26 68.44 64.93 64.99 175.39 191.67 108.11 92.83 128.46 112.43 178.02 81.72 127.21 91.09 42.18 70.12 122.18 80.56 240.13 89.66 78.72 63.91 112.01 49.88 147.83 168.51 42.16 64.74 34.12 35.21 34.31 29.68 56.93 89.37 62.22 24.25 33.98 59.69 56.09 44.42 57.40 139.64 140.36 105.91 19.26 25.83 19.18 20.18 23.52 18.10 23.29 20.19 26.59 21.28 25.07 15.44 15.47 25.50 15.48 17.40 19.22 13.57 25.89 20.84 27.95 20.27 15.57 21.88 22.08 18.72 20.28 18.88 26.07 27.04 13.73 19.49 31.02 16.90 28.98 13.63 20.12 32.27 29.50 32.04 29.98 15.31 28.62 27.25 7.32 19.51 26.38 23.42 17.75 16.36 19.20 17.00 22.29 17.95 36.53 31.00 22.41 24.25 14.00 23.18 10.19 23.51 23.35 14.09 15.55 22.48 20.79 23.27 28.62 11.71 33.10 37.08 33.10 29.41 22.22 35.17 31.92 8.27 8.85 13.11 23.14 40.57 20.04 18.21 38.63 9.36 30.71 14.50 51.75 28.25 20.09 14.52 12.87 31.52 23.73 26.16 23.88 21.46 28.77 13.31 51.91 18.21 15.00 25.37 37.56 19.44 22.12 15.08 23.86 41.65 21.77 31.29 13.79 21.87 21.99 20.37 25.31 57.89 60.29 34.58 (10.72) 10.52 (9.44) (7.08) 16.19 (1.41) (3.09) (3.23) 8.84 4.91 5.87 (1.56) (6.82) 7.55 (21.05) (13.60) (3.19) (10.68) 11.89 (2.35) 17.76 (3.24) (7.78) 7.80 6.53 (3.76) (0.51) (4.40) (2.56) 15.32 (19.37) (17.59) (2.08) (12.52) 6.77 (21.54) (11.79) 24.00 20.65 18.93 -0.86 2.44 -1.27 -0.86 0.83 0.17 1.39 -0.39 2.08 0.46 0.17 0.15 0.22 0.64 -3.37 -0.31 -0.16 -0.29 0.67 0.03 1.54 0.86 0.07 0.21 0.35 -0.28 0.27 -0.15 0.16 0.71 -0.79 -0.20 -0.18 -0.27 0.70 -0.62 -0.36 1.72 2.24 1.56 -0.24 2.72 -1.18 -0.73 0.88 0.32 2.48 -0.48 2.52 0.65 0.19 0.29 0.56 0.90 -0.68 0.40 0.13 0.04 0.69 0.01 1.87 1.59 0.16 0.22 0.49 -0.27 0.36 -0.14 0.47 1.00 -0.59 0.15 -0.26 0.20 0.64 -0.07 0.12 1.92 2.64 1.30 SELL BUY SELL SELL BUY SELL SELL SELL BUY BUY BUY SELL SELL BUY SELL SELL SELL SELL BUY SELL BUY SELL SELL BUY BUY SELL SELL SELL SELL BUY SELL SELL SELL SELL BUY SELL SELL BUY BUY BUY DMI MACD Signal Change SELL SELL SELL SELL - - INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average, and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 4 of 7
68. Fundamentals of Foreign Technical Picks Bloomberg Ticker Stock Name IBM UN MMM UN CVX UN CAT UN MCD UN UTX UN BA UN XOM UN JNJ UN PG UN KO UN WMT UN TRV UN DD UN GS US JPM UN AXP UN MRK UN DIS UN VZ UN HD UN UNH US T UN MSFT UW CSCO UW INTC UW PFE UN GE UN NKE US V US AIG US BAC US BP US C US LVS US MS US WFC US FB US AAPL US IBM 3M CHEVRON CATERPILLAR MCDONALDS UNITECH BOEING EXXON MOBIL J &J P&G COCA-COLA WAL-MART TRAVELERS DUPONT GOLDMAN SACHS JPMORGAN AMEX MERCK WALT DISNEY VERIZON HOME DEPOT UTD HEALTH AT&T MICROSOFT CISCO INTEL PFIZER GE NIKE INC VISA INC AIG BANK OF AMERICA BP CITIGROUP LV SANDS MS WELLS FARGO FACEBOOK INC APPLE INC BABA US ALIBABA GRP Close Target Price % upside EPS ($) PER(x) Div Yield(%) 2017 2018 52week Price High Low % Chg YTD 2017 2018 2017 2018 -1% 13.77 14.15 12.6 12.3 3.3 3.5 182.78 142.50 192.20 0% 8.62 9.39 22.2 20.4 2.5 2.7 193.49 163.12 7.25 128.33 16% 4.61 6.12 23.4 17.7 4.0 4.1 119.00 92.44 -8.25 -0.64 173.83 172.89 191.51 107.99 4.72 92.15 98.50 6% 3.11 4.35 29.6 21.2 3.4 3.4 99.45 69.04 129.34 133.50 3% 6.15 6.63 21.0 19.5 2.9 3.1 131.96 110.33 6.26 111.80 118.85 6% 6.55 7.00 17.1 16.0 2.5 2.6 114.41 96.90 1.99 175.82 177.14 1% 9.32 10.15 18.9 17.3 3.2 3.5 185.67 122.35 12.94 81.23 89.25 9% 4.03 4.70 20.2 17.3 3.8 3.9 95.52 80.31 -10.00 125.48 126.89 1% 7.03 7.40 17.9 17.0 2.7 2.8 129.00 107.70 8.91 90.57 91.79 1% 3.85 4.12 23.5 22.0 3.0 3.1 92.00 79.10 7.72 42.12 43.56 3% 1.87 1.95 22.5 21.6 3.5 3.8 47.12 39.88 1.59 69.61 75.25 7% 4.32 4.54 16.1 15.3 3.0 3.1 75.01 62.72 0.71 120.77 122.06 1% 9.50 10.01 12.7 12.1 2.3 2.5 125.49 103.89 -1.35 79.60 86.47 8% 3.68 4.02 21.6 19.8 2.0 2.1 81.86 61.12 8.45 228.41 250.22 9% 19.10 21.64 12.0 10.6 1.2 1.3 255.10 138.20 -4.61 87.29 93.21 6% 6.56 7.53 13.3 11.6 2.4 2.7 93.98 57.05 1.16 78.20 80.83 3% 5.65 6.27 13.8 12.5 1.7 1.8 82.00 57.16 5.56 63.18 69.41 9% 3.80 4.19 16.6 15.1 3.0 3.1 66.80 52.46 7.32 112.14 118.00 5% 5.95 6.73 18.9 16.7 1.4 1.5 113.16 90.32 7.60 49.68 53.30 7% 3.85 3.97 12.9 12.5 4.7 4.8 56.94 46.01 -6.93 147.71 156.24 5% 7.19 8.14 20.6 18.1 2.4 2.7 150.15 119.20 10.17 165.00 185.68 11% 9.51 10.64 17.4 15.5 1.5 1.5 172.14 125.26 3.10 41.68 43.74 5% 2.96 3.08 14.1 13.5 4.7 4.8 43.89 36.10 -2.00 64.98 68.83 6% 2.96 3.26 21.9 19.9 2.4 2.6 65.91 48.04 4.57 34.08 35.59 4% 2.38 2.50 14.3 13.7 3.2 3.5 34.53 25.81 12.77 35.16 40.27 13% 2.80 2.94 12.6 12.0 3.1 3.2 38.45 29.51 -3.06 34.00 37.68 10% 2.56 2.79 13.3 12.2 3.8 4.4 37.39 29.41 4.68 29.72 33.43 11% 1.62 1.90 18.3 15.7 3.2 3.3 33.00 28.19 -5.95 56.36 62.93 10% 2.41 2.58 23.4 21.8 1.2 1.4 62.64 49.01 10.88 89.19 97.93 9% 3.31 3.86 26.9 23.1 0.7 0.9 92.05 73.25 14.32 60.88 69.13 12% 4.83 5.91 12.6 10.3 2.2 2.4 67.47 48.41 -6.78 23.12 25.38 9% 1.75 2.10 13.2 11.0 1.6 2.3 25.80 12.05 4.62 33.78 38.28 12% 2.19 2.72 15.4 12.4 7.0 7.1 38.68 28.67 -9.63 58.07 64.64 10% 5.19 5.92 11.2 9.8 1.4 1.9 62.53 38.31 -2.29 55.62 61.57 10% 2.56 2.74 21.8 20.3 5.2 5.4 63.38 41.45 4.14 42.46 48.58 13% 3.38 3.87 12.6 11.0 2.1 2.5 47.33 23.11 0.50 55.83 59.11 6% 4.19 4.60 13.3 12.1 2.8 3.0 59.99 43.55 1.31 140.34 158.67 12% 5.43 6.75 25.9 20.8 0.0 0.0 142.31 106.31 21.98 140.64 149.90 6% 8.94 10.13 15.7 13.9 1.7 1.8 142.80 89.47 21.43 108.04 126.50 15% 23.88 29.57 31.1 25.1 0.0 0.0 109.87 73.30 23.04 Note : The above data is based on Bloomberg consensus. Page 5 of 7
69. Daily Money Flow of Technical Stock Picks United States THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 38 40 Tel: +603-2167 9607 20-Mar Total Money Flow (USD' mn) 21-Mar 22-Mar 23-Mar DOW JONES (728.6) 295.9 (692.0) IBM 3M CHEVRON CATERPILLAR MCDONALDS UNITECH BOEING EXXON MOBIL J&J P&G COCA-COLA WAL-MART TRAVELERS DUPONT GOLDMAN SACHS JPMORGAN AMEX MERCK WALT DISNEY VERIZON HOME DEPOT UNITEDHEALTH AT&T MICROSOFT CISCO INTEL PFIZER GE NIKE VISA AIG BANK OF AMERICA BP CITIGROUP LV SANDS MORGAN STANLEY WELLS FARGO FACEBOOK INC APPLE INC ALIBABA GRP (34.9) (30.4) (71.9) (3.4) 22.6 (45.7) (3.0) 6.2 (96.0) (204.7) 31.4 (6.6) (37.5) (8.5) (38.3) 57.1 (22.3) 115.4 (54.1) 14.5 (186.0) (96.3) 35.3 111.5 (47.6) (36.9) 77.7 63.5 (45.1) (103.8) 4.2 (116.3) (0.2) 73.1 8.3 15.4 82.6 (33.2) (138.3) 13.5 (50.1) (30.0) 40.9 60.8 30.8 46.4 (6.6) 79.4 (90.1) 55.9 0.7 48.5 0.3 (18.6) 45.1 122.1 (35.7) 51.4 (63.9) 34.6 64.0 55.9 71.9 20.7 (44.4) 27.6 (82.3) (0.6) 30.4 (125.7) 22.2 98.6 2.6 42.1 2.5 (47.1) 15.9 (11.8) (206.2) 37.7 (24.1) 19.2 (40.6) (29.5) (1.6) (11.2) 0.0 (59.9) 35.0 0.0 (7.0) (58.5) (4.6) (0.6) (49.7) 0.0 (26.6) (1.0) 0.0 0.0 13.1 0.0 0.0 (111.6) 11.6 (1.8) 67.7 0.0 0.0 57.7 1.4 (109.4) 0.0 (76.1) 0.0 (19.6) (75.0) (80.8) (144.5) 36.2 Name stsoo@ta.com.my (1452.7) 24-Mar (1826.6) Total 5D MF (4404.0) (A) Prv. Chg (760.7) (B) Cur. Chg (373.9) (124.9) (63.8) (13.9) (7.9) 20.0 (26.8) (68.9) 81.9 97.7 (16.4) 12.8 (41.8) (16.9) (8.7) (89.2) (91.5) (5.2) (0.0) (120.9) 70.3 (80.7) (71.2) 60.5 (11.5) (41.7) (53.0) 5.0 (20.9) (100.6) (124.4) (25.2) (101.7) (2.4) (61.6) (14.0) (159.7) 0.9 (138.1) (31.1) (67.3) (77.2) (50.9) (66.6) 0.4 (62.4) (25.9) (51.1) (123.5) (133.5) (184.8) 8.0 (37.6) (12.2) (28.2) (48.2) 100.8 34.8 (96.5) (82.0) (72.1) (66.7) (147.7) 2.1 (212.9) (16.9) (41.6) (74.7) (65.4) (62.0) (65.5) (99.9) (94.5) (7.4) (81.3) (4.4) (21.6) 7.9 (94.7) 309.5 20.0 (311.2) (155.8) (152.0) 20.4 9.4 (63.1) (129.5) (15.9) (186.9) (350.1) 45.9 (96.0) (71.0) (64.6) (180.3) 188.5 (54.8) 69.2 (320.8) 47.4 (256.3) (259.4) 169.8 (203.7) (139.0) (105.8) (6.7) (23.4) (177.3) (361.7) (97.4) (323.4) (7.4) (103.8) (7.6) (232.6) 32.2 (358.7) (210.6) 40.1 (100.8) (83.0) 26.7 21.5 21.7 (15.6) (68.9) 141.8 62.8 (16.4) 19.8 16.6 (12.3) (8.2) (39.5) (91.5) 21.4 1.0 (120.9) 70.3 (93.8) (71.2) 60.5 100.1 (53.2) (51.2) (62.7) (20.9) (100.6) (182.0) (26.6) 7.7 (2.4) 14.5 (14.0) (140.1) 75.9 (57.3) 113.4 (103.4) 47.7 12.9 (52.7) 8.3 (82.4) 0.9 17.8 (205.5) (231.3) (168.5) (4.8) 4.2 4.7 (19.5) 41.0 192.3 40.0 (96.5) 38.9 (142.4) 13.9 (76.4) (58.4) (201.4) 24.8 11.4 (79.7) (44.6) 38.6 58.9 (74.7) 7.2 (5.0) (19.6) 9.6 138.0 7.0 43.4 340.6 87.3 20-Mar 21-Mar www.taonline.com.my CLOSING PRICE 22-Mar 23-Mar 20,905.9 20,668.0 20,661.3 20,656.6 24-Mar 20,596.7 175.70 193.01 107.66 95.40 128.78 113.51 179.39 82.00 127.99 91.22 42.24 69.98 122.36 81.50 242.14 90.07 78.85 64.11 112.71 50.24 147.80 168.00 42.42 64.93 34.28 35.43 34.38 29.76 58.68 89.18 62.37 24.44 34.19 59.59 57.36 44.59 57.63 139.94 141.46 107.25 173.88 192.13 108.04 92.43 128.52 112.16 175.96 81.83 127.25 91.19 42.50 69.90 121.69 79.76 233.00 87.39 77.53 63.91 111.75 50.16 146.61 167.70 42.08 64.21 33.88 35.04 34.25 29.39 58.01 88.06 61.76 23.02 34.24 58.04 55.92 42.66 55.85 138.51 139.84 105.09 174.78 192.22 108.39 92.43 129.10 111.93 176.98 81.76 126.26 90.99 42.38 70.25 122.03 79.18 231.07 87.53 77.67 63.50 112.08 49.71 147.36 167.03 41.65 65.03 34.10 35.37 34.47 29.53 53.92 88.52 61.24 22.94 33.99 57.77 55.86 42.21 55.33 139.59 141.42 106.09 174.82 192.14 107.87 92.23 129.00 111.84 177.26 81.86 125.90 90.77 42.17 69.86 121.29 80.56 231.90 87.39 77.84 63.28 112.24 49.64 147.99 165.29 41.65 64.87 33.96 35.27 34.29 29.62 55.37 88.86 61.34 23.07 34.06 58.05 55.59 42.59 55.25 139.53 140.92 108.25 173.83 191.51 107.99 92.15 129.34 111.80 175.82 81.23 125.48 90.57 42.12 69.61 120.77 79.60 228.41 87.29 78.20 63.18 112.14 49.68 147.71 165.00 41.68 64.98 34.08 35.16 34.00 29.72 56.36 89.19 60.88 23.12 33.78 58.07 55.62 42.46 55.83 140.34 140.64 108.04 (A+B) Chg DMF (59.86) OUT (0.99) (0.63) 0.12 (0.08) 0.34 (0.04) (1.44) (0.63) (0.42) (0.20) (0.05) (0.25) (0.52) (0.96) (3.49) (0.10) 0.36 (0.10) (0.10) 0.04 (0.28) (0.29) 0.03 0.11 0.12 (0.11) (0.29) 0.10 0.99 0.33 (0.46) 0.05 (0.28) 0.02 0.03 (0.13) 0.58 0.81 (0.28) (0.21) OUT OUT OUT IN OUT OUT OUT OUT OUT OUT IN IN OUT OUT IN IN IN OUT OUT OUT OUT OUT IN OUT OUT OUT OUT OUT OUT OUT OUT IN OUT OUT OUT OUT IN OUT IN OUT Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Page 6 of 7
70. LIST OF RECOMMENDED BUY STOCKS FROM JULY 2015 TO CURRENT Stock ALIBABA ALIBABA ALIBABA ALIBABA ALIBABA AMERICAN EXPRESS APPLE INC APPLE INC APPLE INC BANK OF AMERICA BOEING BP PLC BP PLC BP PLC CHEVRON CORP CHEVRON CORP CITIGROUP CITIGROUP CITIGROUP CITIGROUP CITIGROUP COCA-COLA COCA-COLA DUPONT EXXON MOBIL FACEBOOK FACEBOOK FACEBOOK FACEBOOK GENERAL ELECTRIC GENERAL ELECTRIC HOME DEPOT JOHNSON & JOHNSON JOHNSON & JOHNSON JP MORGAN LAS VEGAS LAS VEGAS LAS VEGAS MERCK & CO MERCK & CO MERCK & CO MERCK & CO MERCK & CO MICROSOFT CORP NIKE INC NIKE INC PFIZER INC PFIZER INC PFIZER INC PROCTER & GAMBLE VERIZON VERIZON VERIZON VISA INC* WAL-MART STORES WAL-MART STORES WALT DISNEY WALT DISNEY WELLS FARGO REC Date BUY Price 3-Nov 1-Mar 9-Sep 7-Dec 21-Mar 21-Oct 12-Oct 28-Apr 15-Nov 5-Jan 2-Feb 15-Mar 30-Nov 9-Mar 2-Aug 23-Feb 11-Oct 20-Sep 14-Jun 27-Jan 19-Jan 8-Jun 29-Nov 12-Aug 13-Aug 14-Aug 15-Aug 16-Aug 17-Aug 18-Aug 19-Aug 20-Aug 21-Aug 22-Aug 23-Aug 24-Aug 25-Aug 26-Aug 27-Aug 28-Aug 29-Aug 30-Aug 23-Mar 31-Aug 1-Sep 2-Sep 3-Sep 4-Sep 5-Sep 6-Sep 7-Sep 8-Sep 9-Sep 10-Sep 11-Sep 12-Sep 13-Sep 14-Sep 15-Sep 98.51 68.81 60.91 90.40 107.25 66.78 116.30 97.82 105.71 22.95 121.56 29.95 33.52 33.31 99.11 88.82 49.55 46.59 43.16 40.50 57.39 45.32 41.75 53.39 82.77 119.37 94.01 90.10 123.18 30.29 24.77 110.97 119.13 111.76 69.13 44.95 54.26 51.98 52.48 50.98 58.72 59.43 63.50 64.23 51.89 53.65 33.64 32.18 32.43 75.13 47.65 49.49 48.55 67.20 68.87 60.03 94.38 92.91 45.40 24-Mar-17 Price 108.04 108.04 108.04 108.04 108.04 78.20 140.64 140.64 140.64 23.12 175.82 33.78 33.78 33.78 107.99 107.99 58.07 58.07 58.07 58.07 58.07 42.12 42.12 79.60 81.23 140.34 140.34 140.34 140.34 29.72 29.72 147.71 125.48 125.48 87.29 55.62 55.62 55.62 63.18 63.18 63.18 63.18 63.18 64.98 56.36 56.36 34.00 34.00 34.00 90.57 49.68 49.68 49.68 89.19 69.61 69.61 112.14 112.14 55.83 Change (+/-) 9.53 39.23 47.13 17.64 0.79 11.42 24.34 42.82 34.93 0.17 54.26 3.83 0.26 0.47 8.88 19.17 8.52 11.48 14.91 17.57 0.68 (3.20) 0.37 26.21 (1.54) 20.97 46.33 50.24 17.16 (0.57) 4.95 36.74 6.35 13.72 18.16 10.67 1.36 3.64 10.70 12.20 4.46 3.75 (0.32) 0.75 4.47 2.71 0.36 1.82 1.57 15.44 2.03 0.19 1.13 21.99 0.74 9.58 17.76 19.23 10.43 pct ST 9.67 57.01 77.38 19.51 0.74 17.10 20.93 43.77 33.04 0.74 44.64 12.79 0.78 1.41 8.96 21.58 17.19 24.64 34.55 43.38 1.18 (7.06) 0.89 49.09 (1.86) 17.57 49.28 55.76 13.93 (1.88) 19.98 33.11 5.33 12.28 26.27 23.74 2.51 7.00 20.39 23.93 7.60 6.31 (0.50) 1.17 8.61 5.05 1.07 5.66 4.84 20.55 4.26 0.38 2.33 32.72 1.07 15.96 18.82 20.70 22.97 109.87 109.87 109.87 109.87 109.87 84.15 152.26 152.26 152.26 24.76 186.02 35.39 35.39 35.39 119.63 119.63 62.88 62.88 62.88 62.88 62.88 43.09 43.09 83.56 84.42 143.79 143.79 143.79 143.79 33.00 33.00 150.05 134.60 134.60 93.98 60.00 60.00 60.00 70.12 70.12 70.12 70.12 70.12 65.91 60.19 60.19 35.23 35.23 35.23 93.89 52.49 52.49 52.49 93.11 75.19 75.19 122.08 122.08 62.31 Upside Targets MT LT 121.81 121.81 121.81 121.81 121.81 94.62 159.68 159.68 159.68 25.80 195.93 37.37 37.37 37.37 135.10 135.10 67.51 67.51 67.51 67.51 67.51 44.63 44.63 87.86 88.64 150.22 150.22 150.22 150.22 36.21 36.21 156.89 139.88 139.88 103.76 63.68 63.68 63.68 73.01 73.01 73.01 73.01 73.01 72.09 63.25 63.25 37.39 37.39 37.39 100.70 56.95 56.95 56.95 95.94 79.64 79.64 135.35 135.35 64.52 129.20 129.20 129.20 129.20 129.20 105.09 165.68 165.68 165.68 29.29 203.95 39.82 39.82 39.82 150.56 150.56 70.96 70.96 70.96 70.96 70.96 47.13 47.13 91.34 95.47 155.42 155.42 155.42 155.42 38.20 38.20 162.41 144.16 144.16 109.82 70.10 70.10 70.10 75.34 75.34 75.34 75.34 75.34 75.91 68.20 68.20 39.54 39.54 39.54 104.91 61.40 61.40 61.40 98.77 82.40 82.40 138.71 138.71 66.31 ST 1.69 1.69 1.69 1.69 1.69 7.61 8.26 8.26 8.26 7.09 5.80 4.77 4.77 4.77 10.78 10.78 8.28 8.28 8.28 8.28 8.28 2.30 2.30 4.97 3.93 2.46 2.46 2.46 2.46 11.04 11.04 1.58 7.27 7.27 7.66 7.87 7.87 7.87 10.98 10.98 10.98 10.98 10.98 1.43 6.80 6.80 3.62 3.62 3.62 3.67 5.66 5.66 5.66 4.40 8.02 8.02 8.86 8.86 11.61 % Upside MT 12.75 12.75 12.75 12.75 12.75 21.00 13.54 13.54 13.54 11.59 11.44 10.63 10.63 10.63 25.10 25.10 16.26 16.26 16.26 16.26 16.26 5.96 5.96 10.38 9.12 7.04 7.04 7.04 7.04 21.84 21.84 6.21 11.48 11.48 18.87 14.49 14.49 14.49 15.56 15.56 15.56 15.56 15.56 10.94 12.22 12.22 9.97 9.97 9.97 11.18 14.63 14.63 14.63 7.57 14.41 14.41 20.70 20.70 15.57 LT 19.59 19.59 19.59 19.59 19.59 34.39 17.80 17.80 17.80 26.69 16.00 17.88 17.88 17.88 39.42 39.42 22.20 22.20 22.20 22.20 22.20 11.89 11.89 14.75 17.53 10.75 10.75 10.75 10.75 28.53 28.53 9.95 14.89 14.89 25.81 26.03 26.03 26.03 19.25 19.25 19.25 19.25 19.25 16.82 21.01 21.01 16.29 16.29 16.29 15.83 23.59 23.59 23.59 10.74 18.37 18.37 23.69 23.69 18.77 VISA INC* = Share price adjusted for 1-to-4 stock split on 19/03/2015. Total funds invested * Total unrealised profit Return 3,948,770 760,580 19.26% Upside Targets ** ST = Short Term (one month) MT = Medium Term (three months) LT = Long Term (above six months) * The portfolio assumes each position consists of 1,000 shares and no deductions for any charges, fees and commision ** Upside Targets are derived from the subsequent Fibonacci Projection levels The above table is a performance summary of our top BUY recommendations from JULY 2015 to current (sorted by name) together with upside targets, which are taken from subsequent Fibonacci Projection targets which could be achieved in one month (ST), three months (MT) and above six months (LT) from recommendation date. Interpretation: Investors should aim to take profit/sell trading positions when the percentage upside on the last three columns falls to 5% or below (shaded column). A negative percentage value indicates the upside target for the particular time-frame has been breached. Any revision in upside targets will be highlighted in bold. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 7 of 7