Bursa Malaysia Daily Market Report - 3 April

Transcription

1. Monday , 03 April, 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. 3. AirAsia Berhad: Strengthening Network in SEA Banking Sector: Softer Loan Growth in February Sapura Energy Bhd: Sailing in Uncertain Waters 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, 03 April 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (31.03.2017) Volume (mil) +/-chg (RMmn) Main Market 2,219.0 -54.8 2,557.5 Warrants 224.3 31.0 26.2 ACE Market 673.2 -77.3 101.0 Bond 8.8 2.7 1.4 ETF 0.0 -0.16 0.0 Total 3,125.3 2,686.2 Off Market 362.5 268.4 360.1 Value +/-chg 125.0 5.6 -6.3 -1.0 -0.20 240.7 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP April 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 Value/ Volume 1.15 0.12 0.15 0.16 1.06 0.86 0.99 Review & Outlook Up Down 306 348 59 79 60 36 5 3 1 0 431 466 % chg % YTD chg Multiple sell signals flashed on the daily and weekly stochastics and daily MACD indicators for the FBM KLCI implies that last week's correction has further room to fall. In the absence of any domestic positive catalysts, and on the external front, concerns over the potential adverse impact of executive orders by President Donald Trump on trade deficit and tariff enforcement, and US-China trade tensions may also dampen local sentiment. On the index, immediate uptrend supports are revised lower to 1,726 and 1,710, the respective 30 and 50-day moving averages, with 1,700 and 1,675, the 100-day moving average, acting as stronger supports. Immediate overhead resistances stays at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing closely matching last week's high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. 1,740.09 12,361.69 17,080.58 1,746.50 -9.16 -50.93 84.57 -11.00 -0.52 -0.41 0.50 -0.63 5.99 7.81 16.07 6.79 Stock-wise, major banking stocks such as AMMB, CIMB, Maybank and RHBBank and also Gamuda and Genting Berhad may continue to attract profit-taking interest after their recent strength to test key chart resistance levels. 20,663.22 5,911.74 7,322.92 18,909.26 2,160.23 24,111.59 3,175.11 1,575.11 5,568.11 3,222.51 1,986.47 5,864.91 -65.27 -2.61 -46.60 -153.96 -4.41 -189.50 1.87 -4.77 -24.85 12.28 6.89 -31.32 -0.31 -0.04 -0.63 -0.81 -0.20 -0.78 0.06 -0.30 -0.44 0.38 0.35 -0.53 4.56 9.82 2.52 -1.07 6.60 9.60 10.22 2.08 5.12 3.83 0.88 3.51 • News Bites Off Market (mn) GHLSYS 290.2 @ APFT 30.0 @ SUNREIT 10.0 @ AZRB-WA 6.0 @ HALEX 4.8 @ JAG 4.8 @ IRETEX 4.0 @ SAMCHEM 3.5 @ OCR 2.3 @ YONGTAI 2.0 @ CONNECT 1.0 @ SUPERLN 1.0 @ GUNUNG 1.0 @ (RM) 1.00 0.01 1.72 0.48 6.40 0.11 0.22 2.20 0.63 1.43 0.27 2.80 0.55 • • • • Top 08 KLCI Movers Based on Mkt Cap. • Counter • • TENAGA PBBANK SIME CIMB MAXIS AXIATA DIGI GENTING GENM IOICORP Mkt Cap. (RM’mn) 77,550 76,844 63,112 49,397 48,367 45,406 39,886 35,710 30,893 29,239 Chg Vol. (RM) (mn) -0.02 8.82 -0.04 4.20 -0.02 8.40 -0.04 19.24 -0.03 3.55 -0.09 6.03 -0.04 5.48 -0.09 4.08 -0.10 13.66 -0.02 6.91 Important Dates JK GLAND - 2:1 Rights Issue - RI of up to 1,516.6m shares. JKGLAND 2 rights shares for every 1 existing share held, at an issue price of RM0.10 per rights share. Application Closed: 10/04/2017. LISTING ON: 21/04/2017. • • • • Sapura Energy returned to the black with net profit of RM208.3mn in FY17 (core net profit RM396mn) from a net loss of RM791.6mn in FY16, although revenue dropped by 24.9% to RM7.7bn from RM10.2bn. It was above expectations. AirAsia Bhd's unit, AirAsia Investment Limited, has formed a JV with Gumin Company Ltd and an individual, Tran Trong Kien, to establish a LCC in Vietnam. Ahmad Zaki Resources Bhd aims to undertake a private placement of up to 10% of its issued shares to raise money for working capital purposes. Malaysia Airports Holdings Bhd and HSS Engineers Bhd have agreed to an out-of-court settlement of RM1.5 million (versus RM64.6mn claimed by MAHB), relating to a dispute over a contract for the development of a new LCCT and associated services at KLIA. Boon Koon Group Bhd will use a portion of the RM22mn raised from the disposal of its stake in Hitachi Capital Malaysia Sdn Bhd to assemble new light commercial vehicles and motorcycles. Atta Global Group Bhd is looking to raise as much as RM188.6mn, more than double its current market value of RM89.6mn, mainly for working capital or investment into an entirely new business. Kerjaya Prospek Group Bhd has won a RM31.6mn contract to develop 32 three-storey terrace houses in Penang. Mulpha International Bhd said its One & Only Hayman Island hotel along Australia's Great Barrier Reef "incurred significant damage" last Tuesday from Cyclone Debbie Xin Hwa Holdings Bhd sees positive growth this year following the launch of its e-commerce platform, www.e5buy.com. Actis has emerged as the new major shareholder of GHL System Bhd, following its acquisition of a 44.4% stake in the payment service provider. Eversafe Rubber Bhd expects to enlarge its market capitalization to RM86.6mn upon listing on the Ace Market of Bursa Malaysia on 21 April 2017. The government will amend the Customs Act 1967 to take action against anyone selling illicit cigarettes and it would be tabled in the next parliament session. Exchange Rate USD/MYR 4.4252 0.0056 USD/JPY 111.81 0.6700 EUR/USD 1.068 -0.0059 Commodities Futures Palm Oil (RM/mt) 2,647.00 -10.00 Crude Oil ($/Barrel) 50.85 0.52 Gold ($/tr.oz.) 1,247.40 5.90 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 , April 03, 2017 FBMKLCI: 1,740.09 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 Correction Should Continue The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) touched a fresh 22month high last week before overbought momentum, absence of window-dressing action and external concerns sparked profit-taking correction towards the end of the first quarter. Disappointment over the U.S. President Donald Trump's failed healthcare bill and worries on the impact over the United Kingdom's exit from the European Union also discouraged investors from commitments. For the week, the FBM KLCI shed 5.66 points, or 0.32 percent to 1,740.09, as losses on BAT (RM1.56), AMMB (-23sen), HLFG (-20sen) and RHB Bank (-13sen) overshadowed gains in KLK (+20sen) and Petronas Dagangan (+20sen). Average daily traded volume and value eased to 3.36 billion shares and RM2.56 billion, compared to the 4.45 billion shares and RM3.05 billion average the previous week, as buying momentum on lower liners, small caps and ACE Market stocks softened due to the profit-taking consolidation. While last week’s profit taking consolidations could continue this week, a stronger-thanexpected February trade data for Malaysia this Wednesday could cushion any drastic deterioration in sentiment. Consensus expectation is for exports to grow by 13.9% YoY vs. 13.6% YoY in January and trade balance to expand at a much faster pace to RM7.83bn from RM4.71bn. This is attributed to a slight 1.1% percentage point narrowing to 15% in imports. The improvement in crude oil prices (1.4% MoM,75.2% YoY), higher net exports of palm oil (+1.7% YoY) and recovery in electrical and electronics exports to major trading nations should underpin the stronger growth expectations. This week’s announcement on US Manufacturing PMI and durable goods orders data for March should mirror continued expansion in Caixin China PMI Manufacturing, which was announced last Saturday, and paint good prospects for Malaysia’s trade recovery this year, in-line with the official projection of 5.3% growth in net exports after contracting by 1.8% in 2016. Any weakness in the US nonfarm payrolls data for March (forecast 175,000 versus 235,000 in January) that will be released this Friday, a day after the details of the March 15 Federal Reserve (Fed) meeting minutes is announced, should support Fed’s decision of gradual reduction in policy accommodation. As the performance of ringgit has probably already discounted two more rate hikes in the US this year, any slack in the US monetary tightening pace should lift the pressure on ringgit. Many may view this as unlikely after a string of successive affirmation from Fed members about another two or three hikes in 2017 after the 25 basis points hike last month. However, the recent failure of President Trump’s administration to impose restrictive immigration policies and repeal Obamacare, implied Republicans’ control of Congress may not be a strong enough reason for timely/successful implementation of President Trump’s fiscal plans. If the wind is taken out of his sail and expectations of a robust future growth dissipates and weaker sentiment takes its toll on consumption, the Fed may have to review its tightening pace. Page 1 of 9
4. TA Securities 3-Apr-17 A Member of the TA Group Anyhow , investors may find opportunity to buy-into-weakness in 2Q17 as the FBMKLCI is likely to remain in positive territory until the parliament is dissolved for the 14th general election. Watch out for three events this quarter that could provide some volatility and buying opportunity. First is the two rounds of French elections in April and May, second is the potential shutdown of the US government if the Congress can’t agree on the budget by April 28 and finally the outcome of extending production cuts for another six months beyond this June in OPEC’s May 25 meeting in Vienna, Austria. As such any pullbacks below 1,700 towards 1,660 level (based on long-term 12-month rolling mean PER of 15.1x) is a good opportunity to buy into thematic plays (construction, exporters, etc.) such as Gadang (TP: RM1.45), Karex (TP: RM2.55), Poh Huat (TP: RM2.74), Scientex (TP: RM8.50), SKPRES (TP: RM1.75) and undervalued blue chips (Tenaga (TP: RM17.19), TM (TP: RM6.95), Public Bank (TP: RM22.10, etc.) and high beta stocks (Genting (TP: RM10.34), Genting Malaysia (TP: RM6.10), CIMB (TP: RM6.10), AIRPORT (TP: RM7.68), etc.) Page 2 of 9
5. TA Securities 3-Apr-17 A Member of the TA Group News In Brief Corporate Actis has emerged as the new major shareholder of GHL System Bhd , following its acquisition of a 44.4% stake in the payment service provider. The acquisition, which triggered a mandatory general offer for the rest of GHL shares not owned by Actis, saw the purchase of the stake from Cycas, a unit of the private equity firm Creador and GHL executive vice chairman Simon Loh. Actis acquired the stakes at RM1 per share unit. (Bursa Malaysia/ The Star) Sapura Energy Bhd’s net loss for 4QFY17 contracted to RM172.3mn from RM1.3bn a year earlier. The company has declared a single tier interim dividend of 1 sen per share. For FY17, the group returned to the black with net profit of RM208.3mn from a net loss of RM791.6mn in FY16, although revenue dropped by 24.9% to RM7.7bn from RM10.2bn. (Bursa Malaysia/ The Edge) Xin Hwa Holdings Bhd sees positive growth this year following the launch of its ecommerce platform, www.e5buy.com. The platform, which focuses on business-to-business (B2B) segment, offers more than 1.8mn products from some 7,500 suppliers. This mirrors the offerings from the Yiwu Commodity Market, known as the largest wholesale market in the world and located in the province of Zhejiang, China. (Bernama) Eversafe Rubber Bhd expects to enlarge its market capitalization to RM86.6mn upon listing on the Ace Market of Bursa Malaysia on 21 April 2017. The company aimed to raise RM17.3mn in proceeds from its IPO, involving up to 78mn shares at an issue price of 36 sen. (Bursa Malaysia/ New Straits Times) AirAsia Bhd's unit, AirAsia Investment Limited, has formed a JV with Gumin Company Ltd and an individual, Tran Trong Kien, to establish a LCC in Vietnam. AirAsia Investment will hold a 30% stake in the JV company, Gumin will hold 69.9% and Tran Trong Kien will own the remaining share. The JV will require a capitalisation of RM194mn and AirAsia will contribute its share of RM58.2mn which will be raised through internal funding. (Bursa Malaysia/ New Straits Times) Ahmad Zaki Resources Bhd aims to undertake a private placement of up to 10% of its issued shares to raise money for working capital purposes. The issue price as well as the identity of the institutional investors will be announced at a later date. (Bursa Malaysia/ The Edge) Malaysia Airports Holdings Bhd (MAHB) and HSS Engineers Bhd have agreed to an outof-court settlement of RM1.5 million, relating to a dispute over a contract for the development of a new LCCT and associated services at KLIA. To recap, MAHB had issued a notice of arbitration to HSS, claiming an estimated sum of RM64.6mn, after previously failing to resolve the dispute amicably last year. (Bursa Malaysia/ The Edge) The government will amend the Customs Act 1967 to take action against anyone selling illicit cigarettes. Second Finance Minister Datuk Johari Abdul Ghani said amendments to the act would be tabled in the next parliament session. (The Edge) Boon Koon Group Bhd will use a portion of the RM22mn raised from the disposal of its stake in Hitachi Capital Malaysia Sdn Bhd to assemble new light commercial vehicles and motorcycles. The group already had the commercial and energy-efficiency vehicle licences to produce the light commercial vehicles and motorcycles at its plant in Nibong Tebal. (The Star) ATTA Global Group Bhd is looking to raise as much as RM188.6mn, more than double its current market value of RM89.6mn, mainly for working capital or investment into an entirely new business. It intends to raise the funds via the rights issue of ICPS to existing Page 3 of 9
6. TA Securities 3-Apr-17 A Member of the TA Group shareholders . The ICPS — to be issued on the basis of 10 ICPS for every ATTA share owned, is priced at 6 sen per share. (Bursa Malaysia/ The Edge) Nexgram Holdings Bhd sank further into the red in 2QFY17 with a net loss of RM6.2mn, as revenue from its IT subsidiaries continued to decline. It recorded a net profit of RM24.1mn a year ago on revenue of RM25.18mn. Its 2QFY17 revenue came in 62% lower at RM9.7mn. The topline fall was also due to contribution from subsidiaries that deal in security and video surveillance equipment which “dropped tremendously. (Bursa Malaysia/ The Edge) Borneo Oil Bhd’s net profit for 4QFY17 rose by more than fourfold to RM10.7mn from RM2.5mn a year earlier, despite a plunge in its revenue. For FY17, the group’s net profit more than tripled to RM47.4mn from RM11.1mn in FY16. Revenue fell 43% to RM159.5mn from RM280.0mn. (Bursa Malaysia/ The Edge) Kerjaya Prospek Group Bhd has won a RM31.6mn contract to develop 32 three-storey terrace houses in Penang. The works will commence on March 22, and is due for completion by Sept 21 next year. (Bursa Malaysia/ The Edge) Mulpha International Bhd said its One&Only Hayman Island hotel along Australia's Great Barrier Reef "incurred significant damage" last Tuesday from Cyclone Debbie. All One&Only Hayman Island guests and staff on the island were safe with no injuries sustained. The hotel is covered under a property insurance policy, which included protection from the cyclone's impact on the hotel's business for up to 2 years. (Bursa Malaysia/ The Edge) Page 4 of 9
7. TA Securities 3-Apr-17 A Member of the TA Group News In Brief Economy Asia Malaysia Producer Price Index Rises 10 .8% Malaysia's producer price index (PPI) for February rose by 10.8% to 110.4 from 99.6 a year earlier. The Department of Statistics said in a statement that the highest increase was recorded by the mining index (35.7%), followed by agriculture, forestry and fishing (29.3%), manufacturing (7.4%) and electricity and gas supply (3.0%). It said the index for water supply decreased by 0.1%. On a monthly basis, the PPI for local production improved by 0.7% in February 2017 due to increases in two sectors, namely, manufacturing (1.1%) as well as agriculture, forestry and fishing (0.2%). Meanwhile, mining declined 0.9%, followed by water supply (0.2%) and electricity and gas supply (0.1%). Also, the department said the PPI for local production by stage of processing (SOP) inclined 0.7% in February versus January. This was due to increases in the indices for intermediate materials, supplies and components (1.3%), finished goods (0.4%) and crude materials for further processing (0.1%). Compared with the identical period a year ago, the PPI for local production by SOP for February increased 10.8% due to increases in the indices for crude materials for further processing (37.7%), intermediate materials, supplies and components (7.6%) and finished goods (0.8%). (The Star) Japan Inflation Registers First Back-to-Back Rise Since 2015 Japanese consumer prices picked up in February for the second straight month boosted by a rebound in energy prices, official data showed, as Tokyo aims to end years of deflation. Nationwide consumer prices, excluding volatile costs of fresh food, rose 0.2% from a year earlier, the internal affairs ministry said, matching the market consensus. Stripping out fresh food and energy, consumer prices rose 0.1%, while household spending declined 3.8% in February. Many economists expect higher oil prices and a weaker yen to push core inflation to near 1% later this year. But Bank of Japan Governor Haruhiko Kuroda has warned that price momentum toward the central bank's goal of 2% is not sufficient, and that he would need solid evidence of underlying inflation before raising a key long-term interest-rate target. For now, there is little sign of sustainable inflation, with weak wage gains during spring negotiations indicating consumer spending will likely remain subdued. Rising concerns about Donald Trump's ability to implement his pro-growth strategy have strengthened the yen over the past two weeks, underscoring uncertainty in the outlook for inflation and growth in Japan. Other news in Japan: • The unemployment rate in Japan came in at a seasonally adjusted 2.8% in February, the Ministry of Internal Affairs and Communications said. That was below forecasts for 3.0%, which would have been unchanged from the previous month. The job-to-applicant ratio was 1.43, unchanged but shy of expectations for 1.44. The participation rate was 59.6%. • Industrial output in Japan jumped 2.0% on month in February, which topped expectations for an increase of 1.2% following the 0.4% decline in January. On a yearly basis, output jumped 4.8% - again exceeding expectations for 3.9% and up from 3.7% in the previous month. • Japan's auto production increased at a faster pace in February, figures from Japan Automobile Manufacturers Association showed. Automobile production logged a double-digit annual growth of 11.2% in February, following a 3.9% increase in January. • Housing starts dropped by more-than-expected 2.6% year-on-year in February, reversing a 12.8% rise in January. Economists had forecast a 1.2% fall for February. Housing starts declined for the first time since June 2016. The number of annualized housing starts declined to 940,000 from 1.0 million in January. The expected level was 952,000. (The Straits Times, RTT News) Page 5 of 9
8. TA Securities 3-Apr-17 A Member of the TA Group China Manufacturing Gauge Climbs to Highest in Almost Five Years China ’s official factory gauge climbed to the highest in almost five years, the latest evidence of increasing momentum in the world’s second-largest economy. The manufacturing purchasing managers’ index increased to 51.8 in March, compared with economist estimates that it would match the November reading of 51.7. The non-manufacturing PMI rose to a two-year high of 55.1 from 54.2 last month. Numbers higher than 50 indicate improving conditions. The new strength follows a factory rebound since mid-2016, while industrial output and private investment also have picked up. Still, the brighter picture has been boosted by surging producer prices that may be close to peaking, and the government will have to deal with the hangover of the investment-driven growth. New orders increased to a nearly three-year high of 53.3 from 53, the National Bureau of Statistics said. New export orders rose to 51, the highest in almost five years. Input prices fell a third month, falling to 59.3 after hitting a five-year high in December. That suggests producer prices may be peaking at an eight-year high, said Raymond Yeung, chief greater China economist at Australia & New Zealand Banking Group Ltd. (Bloomberg) China to Create new Economic Zone Outside Beijing China will create a new special economic zone outside Beijing similar to those established in Shenzhen and Shanghai, the government said, in a bid to boost flagging growth and reduce the strain on the capital. The Xiongan New Area, located some 100 kilometres southwest of downtown Beijing in Hebei province, will rival south China’s Shenzhen Special Economic Zone, established in the 1980s, and Shanghai’s Pudong New Area, set up in the 1990s. The move was a “major historic and strategic choice made by the CPC Central Committee with Comrade Xi Jinping as the core” and would be “crucial for millennium to come“, the official Xinhua news agency reported late Saturday. Located between Beijing, the port city of Tianjin and Shijiazhuang, Hebei’s provincial capital, the zone would eventually be expanded to 2,000 square kilometres, it said. It is the latest step in China’s efforts to reduce traffic, air pollution, and population growth in overcrowded, smoggy Beijing. (New Straits Times) U.S. Inflation Tops 2% Target for First Time in Almost Five Years The U.S. economy reached an important milestone in February when consumer inflation exceeded the Federal Reserve’s target for a 2% annual gain for the first time in nearly five years. The personal-consumption expenditures price index, which is the Fed’s preferred inflation gauge, edged up in February and climbed 2.1% from a year earlier, the Commerce Department said. It was the strongest annual gain for the price measure since March 2012. That is a healthy signal for the economy, showing excess capacity and high unemployment, that long held inflation near historically low levels has finally abated. Firmer inflation could give Fed policy makers leeway to consider additional interest-rate increases this year. The overall inflation gauge has increased steadily since August 2016, when the annual increase was 1%. Energy prices were the primary driver, rising each month from September through January. But energy prices fell 1.3% in February. The decline could signal inflation is unlikely to rise much further. It is possible that the annual inflation rate could edge back below the Fed’s target in the coming months. Federal Reserve officials don’t expect inflation to increase much from February’s annual reading. Earlier this month, central bankers projected the PCE index to increase 1.9% in the fourth quarter, from a year earlier. They expect 2% annual inflation at the end of next year. Meanwhile, The report also showed consumer spending rose a seasonally adjusted 0.1% in February from and personal income was up a stronger 0.4% from the prior month. Economists surveyed by The Wall Street Journal had expected a 0.2% gain in spending and a 0.4% rise in incomes. Adjusted for inflation, household spending declined by 0.1% in February after falling 0.2% in January. It was the largest two-month decline in real consumer spending since the recession ended, but the decrease at least partially reflects unseasonably warm weather depressed spending on utilities. (The Wall Street Journal) Page 6 of 9
9. TA Securities 3-Apr-17 A Member of the TA Group U .S. Consumer Sentiment Remained High in March Consumer sentiment about the U.S. economy remained high in March because of higher incomes and favorable job prospects, but it was also buoyed by a view that lower economic growth is the new normal. The University of Michigan said Friday that its final March reading of consumer sentiment was 96.9, compared with February’s final reading of 96.3 and March’s initial reading of 97.6. It is up 6.5% from March 2016. Economists surveyed by The Wall Street Journal had expected a final March reading of 97.6. Consumers have lowered growth expectations in recent years so they judge lower rates of growth more favorably than they would have previously. The index of consumer expectations rose 6.1% from a year-ago to 86.5, while the current economic conditions index rose 7.2% to 113.2 from last March. The Michigan report also showed a decrease in consumers’ inflation expectations. Consumers said they expect inflation of 2.5% in the coming 12 months, down from their February expectation of 2.7%. (The Wall Street Journal) U.K. Trade Drives U.K. Economy as Pressures on Consumers Build The falling pound delivered a double boost for the U.K. economy in the final three months of 2016 but signs of the pressure on consumers from inflation began to emerge. A bumper contribution from trade saw gross domestic product grow an unrevised 0.7%, its fastest pace in a year. In the same period, the current-account deficit recorded a record improvement, narrowing sharply to 2.4% of GDP, the least since 2011. The improvements in part reflect a narrowing of the trade deficit as the 16% drop in the pound since the June Brexit vote boosts exports. Net trade added 1.7 percentage points to growth, the most since at least 2014. But while trade is expected to underpin the economy this year, it may not be enough to outweigh the hit to consumers from rising food and fuel prices -- the downside of a weaker currency. Economists see growth slowing modestly from 2016’s 1.8%. The pressures on households were evident in the latest figures from the Office for National Statistics. Consumer spending, the engine of the British economy, slowed to growth of 0.7%, its weakest pace in almost a year. Adjusted for inflation, household disposable income fell 0.4%, the most since early 2014. It was the second straight month of decline. Spending was driven by the willingness of consumers to prioritize spending rather than saving, with the saving ratio falling to a record-low 3.3% from 5.3% in the third quarter. They may be less willing to keep saving less at a time of heightened economic uncertainty as Britain begins negotiations to leave the European Union. The trade deficit in volume terms almost halved to 10 billion pounds ($12.5 billion) in the fourth quarter, the smallest in a year. Business investment fell 0.9%. Annualized growth in the fourth quarter stood at 2.7% compared with 2.1% in the U.S. (Bloomberg) U.K. House Prices Fall for First Time since June 2015 – Nationwide British house prices fell in March for the first time since mid-2015, mortgage lender Nationwide said, another sign that households are turning more cautious as the country prepares to leave the European Union. Nationwide said house prices declined by a monthly 0.3%, compared with a rise of 0.6% in February. In annual terms, prices were 3.5% higher, the weakest increase since August 2015. Economists had expected house prices to rise by 0.4% in March from February and annual growth of 4.1%. A separate poll published in February forecast that house price growth would slow sharply to 2.5% this year and remain subdued in 2018 and 2019 as the country leaves the EU. British Prime Minister Theresa May launched the two-year process of leaving the EU on Wednesday. The fall in sterling since the June referendum is pushing up inflation and wage growth remains sluggish, reducing the spending power of households. (Reuters) Europe Eurozone Inflation Slows More than Predicted on Oil and Food Inflation in the Eurozone slowed for the first time in nearly a year this month, which may reinforce the view among some European Central Bank (ECB) policy makers that it’s too soon to start unwinding unconventional stimulus. The 1.5% rate of price growth in March was down from 2% in February and weaker than economists had forecast. The core inflation rate also fell more than expected, to the lowest in nearly a year. The release of the numbers coincided with a speech by ECB executive board member Benoit Coeure, who said measures of underlying inflation “remain subdued” and the outlook is “highly conditional Page 7 of 9
10. TA Securities 3-Apr-17 A Member of the TA Group on our policy stance .” The slowdown – partly reflecting the timing of the Easter holiday – was predicted by the ECB. While the inflation rate picked up in the past year on the back of the ECB’s bond purchases, the rise has been chiefly due to volatile items such as energy and food. Underlying price pressures are still considered weak, and President Mario Draghi has said he’s looking for further assurances that the medium-term upturn in inflation is sustainable. The core inflation rate, which excludes items like oil and foodstuffs, fell to 0.7% in March, after 0.9% the month before, the data showed. Economists had expected a reading of 0.8 %. Consumer price growth in Germany and Spain also weakened more than expected in March. The better inflation picture – compared with sub-zero monthly prints in early 2016 – coincides with data showing a pickup in momentum within the 19-country bloc, even in the face of potential political risks due to Brexit and elections in France. (The Star) German Unemployment at Record Low German unemployment rate fell to a fresh record low in March as companies hired more people despite economic uncertainties. The jobless rate dropped to 5.8% in March, the lowest since the German reunification in 1990, data from the Federal Labor Agency showed. The rate was expected to remain unchanged at 5.9%. The number of unemployed fell by 30,000 from the prior month to 2.55 million in March. This was much bigger than the expected decrease of 10,000. The labor agency chief Detlef Scheel said the job market develops favorably. With the onset of spring, the number of unemployed declined and employment growth continues unabated. The labor market conditions remain remarkably healthy in Germany, having been hurt only very mildly by the Eurozone debt crisis during 2012-13 or the political uncertainty during the second half of 2016 linked to the Brexit event and the unexpected US election result. Owing to the refugee factor - given rising numbers being officially granted asylum, completing qualification measures, and then looking for work - headline unemployment is expected to eventually bottom out and potentially even rise slightly. According to the data published by Destatis, the ILO jobless rate held steady at an adjusted 3.9% in February. Nonetheless, the rate declined from 4.3% in February 2016. On an unadjusted basis, the unemployment rate rose to 4.3% from 4% in the prior month. Separate data from Destatis showed that Germany's retail sales dropped unexpectedly by real 2.1% year-on-year, reversing January's revised 2.7% increase. This was the first fall in four months and the biggest decline since November 2014, when sales grew by a similar pace. Sales were expected to rise 0.4%. Meanwhile, retail sales grew 1.8% month-on-month after declining 1% in January. The monthly growth also exceeded the expected 0.7% increase. A similar faster growth was last seen in August 2014. (RTT News) Page 8 of 9
11. TA Securities 3-Apr-17 A Member of the TA Group Share Buy-Back : 31 Mar 2017 Company AMPROP ANNJOO SNTORIA TNLOGIS UNIMECH Bought Back Price (RM) Hi/Lo (RM) 50,000 58,000 300,000 500,000 34,800 0.84 2.34/2.33 0.755/0.725 1.71 1.09/1.07 0.835/0.83 2.38/2.32 0.755/0.72 1.71/1.70 1.09/1.07 Total Treasury Shares 12,858,400 23,280,900 1,331,000 8,808,700 6,013,810 Source: Bursa Malaysia TA RESEARCH – Remisiers’ Briefing Topic: Weekly Market Outlook Speaker: Kaladher/ Stephen Soo Venue: Auditorium, 10th Floor Menara TA One Date: 03 Apr 2017 (Today) Time: 12.40pm 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 9 of 9
12. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company AUTOMOBILE BAUTO MBMR UMW Share Price (RM) 31-Mar-17 2.00 2.52 6.00 Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 2.36 2.04 5.12 0.98 0.54 1.21 10.8 22.7 17.7 15.8 23.8 27.6 18.6 11.1 34.0 12.7 10.6 21.8 6.0 3.6 1.8 7.9 3.6 3.0 2.44 2.70 7.01 -18.0 -6.7 -14.4 1.95 1.95 4.43 2.6 29.2 35.4 -6.1 17.8 31.3 4.10 3.40 5.40 6.10 15.80 9.20 22.10 4.70 8.50 1.26 0.93 1.26 1.32 0.66 0.92 0.80 1.27 0.70 35.8 29.4 46.4 50.6 101.3 73.7 136.6 49.0 36.4 37.7 33.1 50.6 55.6 109.8 82.8 140.4 51.7 38.2 11.4 9.8 10.0 11.0 13.6 12.1 14.6 10.6 26.9 10.8 8.7 9.2 10.0 12.5 10.8 14.2 10.0 25.6 3.7 2.8 3.4 3.6 3.0 5.6 2.8 2.3 3.5 3.7 2.8 3.9 4.0 3.0 5.6 2.9 2.3 3.5 4.37 2.92 5.03 5.83 13.90 9.20 20.28 5.39 10.00 -6.6 -1.4 -7.6 -4.5 -1.0 -3.0 -1.9 -4.1 -2.2 3.60 2.08 3.90 4.11 12.70 7.50 18.52 4.43 8.20 13.3 38.5 19.2 35.4 8.3 18.9 7.5 16.7 19.3 9.7 20.5 7.9 23.5 1.9 8.8 0.9 9.8 10.5 0.44 1.25 5.18 3.40 0.69 1.76 1.93 6.02 0.49 1.45 5.49 3.27 0.58 1.90 1.50 5.58 0.81 0.70 1.04 1.08 1.16 na 1.04 0.13 6.0 12.9 31.6 16.8 9.6 12.6 12.8 44.4 6.0 13.2 36.5 20.9 9.9 12.5 12.7 45.8 7.3 9.7 16.4 20.2 7.1 13.9 15.0 13.6 7.3 9.5 14.2 16.2 6.9 14.0 15.1 13.1 0.0 2.2 2.3 2.8 1.5 3.1 1.6 4.2 2.3 2.2 2.3 2.8 1.5 3.1 1.6 4.2 0.51 1.35 5.33 3.61 0.75 1.82 1.98 6.06 -13.7 -7.5 -2.8 -5.8 -8.7 -3.3 -2.5 -0.7 0.36 0.78 4.59 3.07 0.41 1.42 1.41 5.02 22.2 60.3 12.9 10.7 69.1 23.9 36.9 19.9 1.1 19.0 8.4 6.2 19.1 3.5 11.6 2.4 1.99 2.00 0.47 15.4 15.6 12.9 12.8 5.0 5.0 2.40 -17.1 1.93 3.1 -1.0 15.00 17.90 15.41 21.08 0.57 0.59 69.6 93.1 77.5 21.5 101.9 19.2 19.4 17.6 4.6 4.7 5.1 5.1 15.20 18.74 -1.3 -4.5 12.38 13.60 21.2 31.6 7.8 9.3 2.36 7.34 24.68 79.38 3.00 1.86 4.56 0.98 2.23 9.59 26.14 83.60 4.00 2.74 4.17 1.10 0.46 0.33 0.34 0.38 0.47 0.68 0.46 0.56 6.5 35.9 102.6 288.8 23.5 25.1 12.7 9.3 7.5 40.5 124.5 313.3 26.5 25.3 15.8 12.7 36.3 20.4 24.1 27.5 12.8 7.4 35.9 10.5 31.3 18.1 19.8 25.3 11.3 7.3 28.9 7.7 0.8 4.1 2.6 3.6 5.0 4.3 1.0 5.1 1.0 5.2 3.0 3.9 6.0 4.3 1.1 5.1 3.00 9.58 27.00 81.80 3.08 2.04 4.70 1.07 -21.3 -23.4 -8.6 -3.0 -2.6 -8.8 -3.0 -8.7 2.11 7.30 20.10 74.12 1.92 1.42 4.14 0.78 11.8 0.5 22.8 7.1 56.4 31.0 10.1 25.0 -8.2 0.2 5.1 1.5 17.6 7.5 5.3 22.6 45.60 54.22 1.02 271.1 271.8 16.8 16.8 5.8 5.8 55.64 -18.0 40.31 13.1 3.2 9.59 5.45 10.34 6.10 1.34 1.27 45.0 25.7 51.0 27.9 21.3 21.2 18.8 19.5 0.5 1.5 0.6 1.7 9.90 5.81 -3.1 -6.2 7.50 4.17 27.9 30.6 20.7 20.6 2.91 0.12 3.81 0.10 0.72 1.26 22.1 0.2 24.6 0.3 13.2 58.3 11.8 38.1 5.5 0.0 6.5 0.0 3.42 0.13 -14.9 -11.5 2.86 0.05 1.7 130.0 -1.7 130.0 6.00 4.05 6.40 4.61 0.78 0.50 13.9 13.3 17.9 16.5 43.2 30.4 33.4 24.6 0.7 1.5 0.7 1.9 6.79 4.37 -11.6 -7.3 5.78 3.85 3.8 5.2 -5.5 -3.1 4.96 6.23 1.99 4.92 2.16 4.50 6.80 1.90 5.05 2.55 0.54 0.10 0.36 -0.21 0.30 18.2 35.8 16.2 26.6 4.3 21.2 40.5 18.2 30.2 7.1 27.3 17.4 12.3 18.5 50.4 23.3 15.4 10.9 16.3 30.6 1.7 2.9 2.4 2.7 0.5 1.9 3.2 2.7 3.1 0.8 5.03 7.07 2.88 5.45 2.74 -1.4 -11.9 -30.9 -9.7 -21.2 3.81 5.90 1.98 4.20 1.96 30.2 5.6 0.5 17.1 10.2 2.7 -5.5 -5.7 -8.0 -8.5 INDUSTRIAL SCIENTX SKPRES 7.38 1.27 8.50 1.75 0.54 0.49 74.7 9.3 82.4 14.4 9.9 13.6 9.0 8.8 2.8 3.5 3.3 5.4 7.61 1.44 -3.0 -11.8 5.75 1.12 28.3 13.4 10.1 -1.6 MEDIA ASTRO MEDIA PRIMA STAR 2.74 1.15 2.41 3.20 0.85 1.95 1.04 0.67 0.58 13.2 7.7 15.0 14.5 8.0 15.8 20.7 14.9 16.1 18.9 14.4 15.2 4.6 5.4 7.5 4.7 5.5 7.5 3.02 1.52 2.70 -9.3 -24.3 -10.7 2.56 1.00 2.20 7.0 15.0 9.5 5.4 0.0 7.6 OIL & GAS EATECH MHB MISC PANTECH PCHEM SENERGY UMWOG UZMA 0.67 0.96 7.32 0.56 7.70 1.82 0.62 1.80 0.45 0.96 8.16 0.52 7.91 2.02 0.54 1.40 0.93 1.79 0.86 1.26 1.13 2.43 1.96 1.40 11.5 -0.4 50.6 3.7 34.7 5.2 -14.7 11.3 11.9 1.1 57.1 4.3 39.3 7.8 -12.4 12.2 5.8 na 14.5 15.0 22.2 34.8 na 16.0 5.6 86.0 12.8 13.0 19.6 23.3 na 14.7 0.0 0.0 4.1 2.7 2.5 0.5 0.0 0.0 0.0 0.0 4.1 3.1 2.5 0.5 0.0 0.0 1.23 1.34 9.00 0.58 7.75 2.09 1.04 2.04 -45.5 -28.4 -18.7 -2.6 -0.6 -12.9 -40.9 -11.8 0.45 0.84 6.88 0.44 5.95 1.29 0.61 1.30 50.6 14.3 6.4 28.7 29.4 41.1 1.7 38.5 8.1 4.9 -0.4 25.8 10.3 12.3 -29.7 5.9 BANKS & FINANCIAL SERVICES AFG 4.08 AFFIN 2.88 AMBANK 4.65 CIMB 5.57 HLBANK 13.76 MAYBANK 8.92 PBBANK 19.90 5.17 RHBBANK BURSA 9.78 CONSTRUCTION BPURI GADANG GAMUDA IJM SENDAI SUNCON WCT LITRAK Building Materials WTHORSE CONSUMER Brewery CARLSBG HEIM Retail AEON AMWAY F&N NESTLE PADINI POHUAT QL SIGN Tobacco BAT GAMING Casino GENTING GENM NFO BJTOTO LUSTER HEALTHCARE Hospitals IHH KPJ Rubber Gloves HARTA KOSSAN SUPERMX TOPGLOV KAREX
13. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price (RM) PLANTATIONS FGV IJMPLNT IOICORP KLK SIME UMCCA Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 2.09 3.22 4.65 24.68 9.28 6.46 1.53 3.88 3.93 22.75 8.24 7.52 1.75 0.45 1.06 0.94 1.25 0.50 6.3 13.7 18.7 111.8 30.8 32.7 11.1 15.7 21.1 119.1 35.3 34.5 33.0 23.5 24.8 22.1 30.2 19.7 18.8 20.5 22.1 20.7 26.3 18.7 2.4 2.2 2.2 2.2 2.4 2.5 2.4 2.5 2.6 2.4 3.0 2.6 2.52 3.74 4.81 25.50 9.55 6.51 -17.1 -13.9 -3.3 -3.2 -2.8 -0.8 1.31 3.14 4.07 22.62 7.10 5.53 59.5 2.5 14.3 9.1 30.7 16.8 34.8 -5.3 5.7 2.8 14.6 7.7 0.72 1.10 0.95 2.07 1.45 0.76 3.55 3.25 0.69 1.09 1.00 2.10 1.60 0.80 3.82 3.40 0.64 0.64 0.34 0.92 0.68 0.31 0.67 0.49 3.4 20.0 7.3 14.7 14.5 6.4 27.7 31.2 7.0 17.4 11.2 15.3 12.5 9.7 24.5 33.3 20.9 5.5 13.1 14.1 10.0 11.9 12.8 10.4 10.3 6.3 8.5 13.5 11.6 7.8 14.5 9.8 5.6 3.6 3.7 3.4 4.1 1.3 3.9 3.7 5.6 3.2 4.2 3.6 3.8 1.3 3.9 3.7 0.84 1.43 1.09 2.46 1.70 0.86 3.61 3.28 -13.8 -23.2 -12.8 -15.9 -14.7 -12.2 -1.7 -0.9 0.68 1.05 0.91 1.85 1.34 0.69 2.80 2.87 5.9 4.8 4.4 12.0 8.2 9.4 26.8 13.2 3.6 -2.7 -5.0 6.2 1.4 -5.6 13.4 7.3 1.72 1.63 1.79 1.78 0.54 0.62 8.9 8.1 10.1 8.5 19.4 20.1 17.0 19.1 5.2 5.5 5.9 5.8 1.84 1.72 -6.5 -5.2 1.57 1.43 9.6 14.0 0.0 6.5 POWER & UTILITIES MALAKOF PETDAG PETGAS TENAGA YTLPOWR 1.21 24.00 19.76 13.72 1.52 1.45 20.19 19.64 17.19 1.81 0.71 0.77 0.78 1.02 0.59 6.9 98.4 89.4 129.4 8.8 8.3 102.3 91.6 132.7 10.6 17.5 24.4 22.1 10.6 17.4 14.6 23.5 21.6 10.3 14.4 5.8 3.0 3.2 2.6 6.6 4.8 3.2 3.2 2.6 6.6 1.80 25.70 22.66 14.90 1.64 -32.8 -6.6 -12.8 -7.9 -7.3 1.14 22.16 19.56 13.00 1.38 6.1 8.3 1.0 5.5 10.1 -11.7 0.8 -7.2 -1.3 2.0 TELECOMMUNICATIONS AXIATA DIGI MAXIS TM 5.06 5.13 6.44 6.42 5.25 4.90 5.95 6.95 1.27 0.96 0.72 0.68 16.7 20.8 25.1 21.4 17.6 21.1 25.4 22.3 30.3 24.6 25.7 29.9 28.7 24.3 25.3 28.8 1.7 4.1 3.1 3.0 1.8 4.1 3.1 3.1 5.99 5.19 6.49 6.90 -15.5 -1.2 -0.8 -7.0 4.11 4.31 5.36 5.81 23.1 19.0 20.1 10.5 7.2 6.2 7.7 7.9 TECHNOLOGY Semiconductor & Electronics IRIS 0.15 INARI 2.04 MPI 11.50 UNISEM 3.14 0.14 2.05 10.55 3.15 1.30 0.75 0.45 0.78 -1.2 10.7 88.9 26.9 0.9 na 12.8 19.0 101.9 12.9 29.1 11.7 16.6 15.9 11.3 10.8 0.0 2.0 2.0 3.8 0.0 2.4 2.0 3.8 0.24 2.10 12.22 3.30 -37.5 -2.9 -5.9 -4.8 0.10 1.28 6.86 2.12 50.0 59.1 67.6 48.1 36.4 22.9 55.2 33.1 3.14 6.95 3.02 7.68 1.18 1.45 33.5 9.8 34.9 10.0 9.4 71.0 9.0 69.2 1.3 1.4 1.6 1.4 3.30 7.30 -4.8 -4.8 1.84 5.76 70.7 20.7 37.1 14.7 1.70 4.05 1.88 4.51 0.86 0.69 15.4 19.3 21.5 17.4 11.0 21.0 7.9 23.3 3.2 3.6 4.1 3.2 1.76 4.59 -3.4 -11.8 1.22 3.74 39.3 8.3 6.9 -5.8 PROPERTY GLOMAC HUAYANG IBRACO IOIPG MAHSING SNTORIA SPSETIA SUNWAY REIT SUNREIT CMMT TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WPRTS SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE Company Share Price (S$) BANKS & FINANCIAL SERVICES DBS 19.40 OCBC 9.72 UOB 22.11 PLANTATIONS WILMAR IFAR 3.53 0.52 Target Price Beta (S$) EPS (cent) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52week 52week FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 16.70 8.50 19.40 1.21 1.12 1.08 173.8 87.8 195.7 190.2 11.2 92.5 11.1 209.4 11.3 10.2 10.5 10.6 3.1 5.7 3.2 3.1 6.7 3.2 19.4 9.8 22.1 0.0 -0.6 0.0 14.63 8.84 17.41 32.6 18.4 27.0 11.9 9.0 8.4 3.45 0.51 0.91 1.12 28.9 3.9 31.1 4.3 11.3 12.2 2.3 1.8 2.5 2.0 4.0 0.6 -11.8 -14.8 2.96 0.44 19.3 18.2 -1.7 -1.0 12.2 13.3 BUY : Total return within the next 12 months exceeds required rate of return by 5%-point. HOLD : Total return within the next 12 months exceeds required rate of return by between 0-5%-point. SELL : Total return is lower than the required rate of return. 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.
14. T e c h n i c a l TA Securities V i e w Monday , April 03, 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: 1,740.09 (-5.66, -0.32%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist : Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Further Correction in the Absence of Positive Catalyst The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) touched a fresh 22month high last week before overbought momentum, absence of window-dressing action and external concerns sparked profit-taking correction towards the end of the first quarter. Disappointment over the U.S. President Donald Trump's failed healthcare bill and worries on the impact over the United Kingdom's exit from the European Union also discouraged investors from commitments. For the week, the FBM KLCI shed 5.66 points, or 0.32 percent to 1,740.09, as losses on BAT (RM1.56), AMMB (-23sen), HLFG (-20sen) and RHB Bank (-13sen) overshadowed gains in KLK (+20sen) and Petronas Dagangan (+20sen). Average daily traded volume and value eased to 3.36 billion shares and RM2.56 billion, compared to the 4.45 billion shares and RM3.05 billion average the previous week, as buying momentum on lower liners, small caps and ACE Market stocks softened due to the profit-taking consolidation. Bursa Malaysia stocks eased off earlier highs Monday to close lower due to late profit-taking amid weaker regional peers after the flop of the US President’s proposed healthcare reform bill raised doubts over the success of other major policy proposals. The KLCI eased 0.8 points to close near session lows at 1,744.95, off an earlier high of 1,750.35, as losers beat gainers 586 to 363 on total turnover of 3.97bn shares worth RM2.49bn. The local stock market rose the next day, helped by rebound in key banking and oil & gas stocks as local funds return to nibble following the previous day’s profit-taking correction. The KLCI gained 9.47 points to close at 1,754.42, off an early high of 1,756.27 and low of 1,748.65, as gainers led losers 513 to 366 on slower turnover totaling 3.06bn shares worth RM2.42bn. The FBM KLCI edged lower Wednesday, as selected blue chips weighed on the market, ignoring the firmer regional tone as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focused on an improving outlook for global growth. The KLCI fell 4.01 points to close at 1,750.41, off the high of 1,759.76 and low of 1,747.16, as gainers led losers 522 to 402 on turnover totaling 3.4bn shares worth RM2.63bn. Stocks extended profit-taking correction the following day, in line with regional weakness as traders weigh the impact over the United Kingdom's exit from the European Union. The KLCI lost 1.16 points to close at 1,749.25, off the high of 1,751.07 and low of 1,746.05, as gainers led losers 465 to 420 on turnover totaling 3.22bn shares worth RM2.56bn. Profit-taking and selling interest persisted on the final trading day of the first quarter, due to absence of window-dressing action and cautious external tone which dampened near-term sentiment. The index slipped 9.16 points on Friday to end at the day’s low of 1,740.09, off an early high of 1,748.19, as losers beat gainers 466 to 431 on slower turnover of 3.12bn shares worth RM2.68bn. Trading range for the blue-chip benchmark index last week stabilized at 19.67 points, compared to the previous week’s 19.59 points, as blue chips remained in profit-taking consolidation mode. For the week, the FBM-EMAS Index eased 4.17 points lower to 12,361.69, but the FBM-Small Cap Index increased 130.53 points, or 0.8 percent to 17,080.58, as rotational buying interest in small cap stocks stayed robust. Page 1 of 3
15. TA Securities 3-Apr-17 A Member of the TA Group A second sell signal flashed on the daily slow stochastic indicator following last week ’s threeday correction on the FBM KLCI (Chart 1), while the weekly indicator’s signal line hooked down for an imminent sell signal in the overbought zone. The 14-day Relative Strength Index (RSI) indicator also hooked down bearishly for a reading of 56.81, while the 14-week RSI mirrored the hook-down on the daily indicator for a reading of 67.22. Chart 1 The daily Moving Average Convergence Divergence (MACD) trend indicator’s signal line also crossed for a sell after last week’s profit-taking correction, but the weekly MACD indicator retained its upward trajectory. However, the +DI and -DI lines on the 14-day Directional Movement Index (DMI) trend indicator maintained their bullish expansion on a steady ADX line, sustaining the uptrend mode. Chart 2 Conclusion Multiple sell signals flashed on the daily and weekly stochastics and daily MACD indicators for the FBM KLCI implies that last week’s correction has further room to fall. In the absence of any domestic positive catalysts, and on the external front, concerns over the potential adverse impact of executive orders by President Donald Trump on trade deficit and tariff enforcement, and US-China trade tensions may also dampen local sentiment. Page 2 of 3
16. TA Securities 3-Apr-17 A Member of the TA Group On the index , immediate uptrend supports are revised lower to 1,726 and 1,710, the respective 30 and 50-day moving averages, with 1,700 and 1,675, the 100-day moving average, acting as stronger supports. Immediate overhead resistances stays at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing closely matching last week’s high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. Stock-wise, major banking stocks such as AMMB, CIMB, Maybank and RHBBank and also Gamuda and Genting Berhad may continue to attract profit-taking interest after their recent strength to test key chart resistance levels. 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
17. COMPANY UPDATE TA Securities Monday , 03 April 2017 FBM KLCI: 1,740.09 Sector: Transportation A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 AirAsia Berhad TP: RM3.02 (-3.9%) Last Traded: RM3.14 Strengthening Network in SEA SELL THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Tan Kam Meng, CFA Tel: +603-2167 9605 kmtan@ta.com.my Venturing into Vietnam AirAsia announced that it has executed a shareholders agreement and a share subscription agreement with Gumin Company Limited, Mr. Tran Trong Kien and Hai Au Aviation Joint Stock Company (HAA) to formalize cooperation between AirAsia, Gumin, Mr. Tran and HAA to establish a low-cost carrier (LCC) in Vietnam. Some salient terms about the agreements as well as the loan agreement: HAA to increase its paid-up capital to VND1tn (RM194mn) for the purpose of this joint venture operation; AirAsia to subscribe for 30% of HAA’s enlarged share capital for VND300bn (RM58.2mn); AirAsia and Gumin will have their respective interest of 30% and 69.9% in HAA while Mr. Tran will have 1 share of HAA; AirAsia and Gumin will provide loans amounting to USD2mn (RM8.84mn) and USD4mn (RM17.68mn) to HAA. Other transaction document to be entered into between AirAsia and HAA include the brand licensing agreement to licence the use of the AirAsia brand to the HAA for a fee. www.taonline.com.my Share Information Bloomberg Code AIRAMK Stock Code 5099 Listing Main Market 3341.9 Share Cap (mn) 10493.6 Market Cap (RMmn) 0.1 Par Value 3.30/1.84 52-wk Hi/Lo (RM) 20416.0 12-mth Avg Daily Vol ('000 shrs) 67.8 Estimated Free Float (%) 1.2 Beta Major Shareholders (%) Tune Live Sdn Bhd - 16.7% Tune Air Sdn Bhd - 15.5% Forecast Revision Forecast Revision (%) Net profit (RMm) Consensus TA's / Consensus (%) Previous Rating FY17 FY18 0.0 0.0 1298.0 1260.0 1,256.0 1177.0 103.3 107.1 Hold (Downgraded) Financial Indicators Our view We are positive on this venture as it will strengthen AirAsia’s network in South East Asia. Importantly, the total capital committed to HAA by AirAsia is only RM67.0mn or as little as 1% of AirAsia’s shareholder funds. As such, we think it worth the effort and money to explore Vietnam’s aviation market, the 5th largest market in South East Asia after Indonesia, Thailand, Malaysia and Singapore, with a population of 95mn. As HAA is expected to operate both domestic and international flights in Vietnam, HAA can leverage on AirAsia’s strong brand name and capture meaningful market share in the international segment. Currently, there are two existing players in the market namely, Jetstar Pacific and VietJet Air, which started low-cost carrier business models back in 2007 and 2011 respectively. Jetstar Pacific is owned by national carrier Vietnam Airlines (70%) and Qantas (30%) while VietJet is private owned by Sovico Holdings, HDBank and other institutional investors. Jetstar Pacific and VietJet have fleet size of 18 and 45 aircraft respectively, mostly Airbus A320 family fleet, serving both domestic and international destinations. Looking at the total fleet size, we opine that the LCC market in Vietnam is not over-crowded and not dominated by a single airline company yet, like Malaysia and Indonesia dominated by AirAsia and LionAir. Also, judging from the bullish profit guidance from the CEO of Vietjet, we believe there are ample room for growth for a new comer. Note that the CEO of Vietjet said that VietJet expect net profit to climb by 30% in 2017, after its bottomline almost doubled over in 2016. Page 1 of 3 Net debt/equity (x) CFPS (sen) P/CFPS (x) ROE (%) ROA (%) NTA/Share (RM) Price/ NTA (x) Share Performance (%) Price Change 1 mth 3 mth 6 mth 12 mth FY17 1.0 3.6 86.6 14.7 5.1 2.6 1.2 FY18 1.0 (14.4) (21.7) 12.8 5.2 2.8 1.1 AIRASIA 19.4 35.9 12.5 71.6 FBM KLCI 1.9 6.4 5.3 1.7 (12-Mth) Share Price relative to the FBM KLCI Source: Bloomberg
18. TA Securities 3-Apr-17 A Member of the TA Group Forecast As the venture into Vietnam is still at a preliminary stage , pending successful application for airline operator’s certificate by HAA, we maintain our earnings projections for FY17-18. Risk A foreseeable risk include operational conflicts between AirAsia and Gumin in the future. Information on Gumin is scarce and not mentioned in the announcement. Meanwhile, Mr. Tran Trong Kien is a chairman of Buffalo Tours, a leading inbound tour company in Asia. Valuation We maintain our target price at RM3.02 based on unchanged 9x CY17 EPS. As the share price has advanced 37% YTD, we believe the market has largely priced in those corporate exercises, i.e.: disposal of AAC and special dividend, listing of AAI and PAA, highlighted in various media reports. As such, we downgrade AirAsia to Sell from Hold. Profit and Loss (RM'mn) YE Dec 31 2014 Revenue 5415.7 2015 6297.7 2016 6923.9 2017F 7016.7 2018F 7425.6 EBITDA Depr & Amor EBIT Net finance cost JV & associate EI PBT Adj PBT* Tax Net profit Adj net profit* EPS (sen) DPS (sen) 2,739.9 (703.2) 2,036.6 (569.9) (800.0) 9.3 215.0 719.3 326.1 541.0 683.4 24.6 4.0 2,923.7 (744.9) 2,052.2 (384.0) 181.1 101.9 2,167.2 2,248.9 (134.0) 2,036.3 2245.6 80.7 4.0 2,371.1 (820.8) 1,550.2 (441.9) 108.6 0.0 1,217.0 1,175.4 (54.8) 1,162.2 1120.7 33.5 4.0 2,302.1 (888.6) 1,413.4 (392.2) 141.4 0.0 1,162.7 1,217.6 (52.3) 1,110.4 1165.3 34.9 5.0 1,545.5 (719.5) 826.0 (412.1) 27.6 (389.8) 22.7 307.2 60.1 82.8 281.6 10.1 3.0 * Core net profit comprises share of profits from IAA, AAP, AAJ, & others JVs Cash Flow (RM'mn) YE Dec 31 PBT Non- cash item Chg in workin cap. Tax Others CFO 2014 22.7 479.5 (917.4) (15.2) 626.1 195.8 2015 215.0 565.6 482.2 (31.1) 972.2 2203.9 2016 2167.2 563.9 (1401.1) (18.0) 41.5 1353.5 2017F 1217.0 712.2 279.6 (54.8) (0.0) 2154.0 Capex Others CFI (1967.2) (78.3) (2045.5) (613.9) 511.1 (102.8) (619.9) 770.2 150.3 (2032.8) (2332.6) 0.0 0.0 (2032.8) (2332.6) Net Borrowing Dividend Paid Others CFF 3129.5 1458.2 (111.3) (83.5) (1242.7) (2677.4) 1775.5 (1302.7) 832.2 (111.3) (0.2) 720.7 (500.0) (133.7) 1006.2 372.5 (500.0) (167.1) 0.0 (667.1) 2016 40086 34676 20629 17535 8792 7278 50 2017F 40560 34412 21475 18039 7569 6055 61 2018F 43620 36678 22469 18874 9934 7947 61 Key Assumptions (RM'mn) 2014 ASK - MAA (mn) 34590 RPK - MAA (mn) 27273 ASK - TAA (mn) 15420 RPK - TAA (mn) 12420 RPK - IAA (mn) 11663 RPK - IAA (mn) 9150 Jet fuel (USD/b) 120 2015 37408 30006 18116 14872 11135 8354 81 2018F 1162.7 747.2 42.6 (52.3) 0.0 1900.2 Balance sheet (RM'mn) YE Dec 31 2014 PPE 12533.5 Associates 230.5 JV 191.6 Derivatives 381.7 Others 4793.4 LT Assets 18130.7 2015 10927.6 1020.6 164.0 945.5 3972.1 17029.9 2016 10792.6 2232.7 188.3 867.9 3392.0 17473.5 2017F 12004.6 2315.8 213.8 867.9 2682.7 18084.9 2018F 13448.6 2430.5 240.6 867.9 2751.6 19739.2 Trade receivables Cash Others ST Assets 682.9 1337.8 512.6 2533.4 617.4 2426.7 1242.3 4286.4 837.7 1741.6 1849.3 4428.6 922.7 2235.3 1878.5 5036.6 986.3 1135.8 1903.1 4025.1 Total Assets 20664.1 21316.3 21902.2 23121.4 23764.3 Trade payables Sales in advance Borrowings Others ST Liabilities 773.1 502.8 2274.9 561.4 4112.3 1634.1 664.3 2377.3 596.2 5271.7 1965.1 607.7 1945.2 482.9 5000.9 1384.1 607.7 1845.2 482.9 4319.9 1473.9 607.7 1745.2 482.8 4309.7 LT Borrowings Others LT Liabilities 10453.1 1543.7 11996.8 10235.6 1358.1 11593.7 8633.9 1653.3 10287.2 8233.9 1918.8 10152.8 7833.9 2028.6 9862.5 Share Cap Reserves Shareholder's Funds MI Liabilities + Equities 278.3 4276.8 4555.1 0.0 20664.1 278.3 4174.0 4452.3 (1.5) 21316.3 278.3 6340.9 6619.2 (5.2) 21902.2 334.2 8319.8 8654.0 (5.2) 23121.4 334.2 9263.1 9597.3 (5.2) 23764.3 2016 228.6 3.9 1.3 (8837.6) 1.3 40.6 10.4 2.33 1.3 6.0 2017F (58.4) 9.4 1.3 (7843.8) 0.9 14.7 5.0 2.55 1.2 7.7 2018F 4.0 9.0 1.6 (8443.4) 0.9 12.8 5.0 2.84 1.1 8.2 Ratio YE Dec 31 2014 2015 EPS Growth (%) (34.3) 142.7 PER (x) 31.0 12.8 Div Yield (%) 1.0 1.3 Net cash/(debt) (RMm) (11390.2) (10186.1) Net gearing (x) 2.5 2.3 ROE (%) 5.9 15.2 ROA (%) 1.5 3.3 NTA (RM) 1.63 1.59 P/NTA (x) 1.9 2.0 EV/EBITDA (x) 13.0 6.9 Page 2 of 3
19. TA Securities 3-Apr-17 A Member of the TA Group ( T HI S P AGE I S I NT E N T I ON AL L Y L E FT B L ANK) 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 3 of 3
20. TA Securities A Member of the TA Group SECTOR REPORT Monday , April 03, 2017 FBM KLCI: 1,740.09 Sector: Finance MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Banking Sector Softer Loan Growth in February THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Team Coverage Tel: +603-2167 9610 liwong@ta.com.my Loans and Advances Grew 5.3% YoY Loan growth advanced at a softer pace of 5.3% YoY in February. From a month ago, total loans outstanding stood little changed. By segment, consumer loans advanced by 5.4% YoY (unchanged MoM). Business loans remained on a recovery mode, expanding 5.3% YoY (-0.1% MoM). The increase in business loans was anchored by demand for construction activities (+4.6% YoY, -0.6% MoM) and the purchase of non-residential properties (+5.7% YoY, unchanged MoM). Loans outstanding for working capital also accelerated, climbing by 6.1% YoY (+0.1% MoM). Consumer loans continued to broaden on the back of drawdowns for residential mortgages (+9.0% YoY, +0.5% MoM). Advances for credit cards accelerated by 1.7% YoY but fell 2.0% MoM. Meanwhile, loans taken for the purchase of securities dipped by 1.2% MoM and 0.5% YoY. Loans for the purchase of passenger cars also resumed its downward momentum, contracting by 0.9% YoY and 0.3% sequentially. We note that HP loans widened by some 0.3% MoM back in January, possibly on the back of festive promotions. Loan Applications and Approvals Rebounded in February Loan applications strengthened in February, surging 21.2% YoY (+2.8% MoM) after slipping for seven straight months. In the consumer segment, total loans applied strengthened at an encouraging pace of 25.2% YoY (-5.8% MoM). Key consumer segments accelerated, led by application for the purchase of securities (+38.4% YoY). This is followed by YoY improvements registered by loan applications for the purchase of residential mortgages (+34.5% YoY) and credit cards (+25.8% YoY). Meanwhile, application for loans to buy passenger cars also registered an increase, rising 24.3% YoY after declining for almost 13 straight months. In the business segment, application for credit rose, widening 17.1% YoY and 14.5% MoM. Total loans approved also rebounded strongly in February after falling for five consecutive months. The 17.4% YoY increase was led by a 20.1% and 14.5% YoY improvement in the approval for consumer and business loans. In particular, we note that approval for business loans had been falling for almost 11 straight months. Sequentially, total loans approved also improved, climbing 3.2% MoM on the back of the increase in approval for business loans – in particular the SME segment. Muting the impact was an 8.7% MoM decline in the approval for consumer loans. Overall approval rate improved marginally to 42.7% from 42.5% in January - comprising business and consumer loan approval rates of 43.1% and 42.3% respectively. By major sub-segments, approval for the purchase of residential and non-residential properties rose by 27.3% YoY (-1.1% YoY) and 2.6% YoY (-8.7% MoM) respectively. Contraction in Repayment of Loans Repayments of loans recovered after contracting for five straight months in January 2017, rising by 7.1% YoY. Compared to the previous month however, total repayments decreased by 7.2%. The system’s net impaired loans ratio stayed pat at 1.2%. Loan loss provisions slipped to 90.8% from 91.5% in January. During the month, impairment ratios for residential properties weakened slightly to 1.2% (from 1.1%) while non-residential properties, personal loans and HP stood unchanged at 1.0%, 2.2% and 0.9%. The impairment ratio for credit cards however, improved 10 bps to 1.3% from 1.4% in Page 1 of 3 TA Research Team Coverage
21. TA Securities 3-Apr-17 A Member of the TA Group January . By segment, the gross impaired loans ratio for the construction and wholesale, retail and trade sectors deteriorated by 20 bps and 10 bps to 7.2% and 1.9% while manufacturing stayed pat at 4.1. Asset quality in other major business segments such as working capital also saw a slight 10 bps weakness to 2.4%. Elsewhere, the banking system’s capital buffers remained ample with CET1 and Total Capital Ratio of 13.1% and 16.9%. Deposits Strengthened YoY, Higher CASA Ratio Total deposits (excl. Repo) climbed by 2.5% YoY (+0.4% MoM). CASA balances in commercial banks maintained its upward momentum for the 5th month, increasing at a stronger pace of 6.0% YoY and 2.2% MoM. The CASA ratio climbed to 27.2%. The loan to deposit (LD) ratio softened to 90.1% (2015: 87.7%) while the liquidity coverage ratio (LCR), which is reported 1-month in arrear broadened 128% from 125% in January 2017. Average Lending Rates Up MoM Average 1 and 12 months fixed deposit rates also stood little changed at 2.87% and 3.08%. The average lending rate advanced by another 5 bps to 4.61%, the 4th straight sequential increase. From a year ago, the ALR stayed pat as stability appears to be coming back to loan yields. Maintain Overweight We reiterate our overweight stance on the sector, premised on a more sanguine macro outlook. We note that consumer spending remains resilient and supportive of loan growth while optimism among businesses have improved. The solid pickup in loan application and approvals in February could point to signs of stronger loan growth ahead. Nevertheless, we are maintaining our 5% forecast for now as the recent increase could be spurred by the low base effect in December and January due to the festive shortened months. Elsewhere, the banking system’s asset quality remains intact, backed by unchanged gross impaired loans ratio of 1.2% and LCR in excess of 100%. We believe the overall debt profile for the country has improved. Total household debt as a proportion of gross domestic product (GDP) was lower at 88.4% (from 89.1% in 2015). Other drivers for earnings growth include potential hikes in the overnight policy rate (OPR), leading to margin expansion. We expect the increase in rate to augur well for the banking sector as margins are compressed by competitive pressures. BUY maintained on Public Bank, Hong Leong, AMMB, CIMB and Affin. Reiterate HOLD on Maybank and Alliance Financial Group (AFG) and SELL on RHB Bank. Page 2 of 3
22. TA Securities 3-Apr-17 A Member of the TA Group Table 1 : Peers comparison Ma yba nk CIMB Publ i c Ba nk Hong Leong AMMB RHB Bank Al l ia nce Affin Simple average Price (RM) 8.92 5.57 19.90 13.76 TP (RM) 9.20 6.10 22.10 15.80 HOLD BUY BUY BUY 4.65 5.17 4.08 2.88 5.40 4.70 4.10 3.40 BUY SELL HOLD BUY P/BV Ma yba nk CIMB Publ i c Ba nk Hong Leong AMMB RHB Ca p Al li a nce Affi n Simple average FY17 (x) 1.2 1.0 2.1 1.2 0.9 0.9 1.2 0.8 1.2 Mkt Cap RM mil 90,923.3 49,397.0 76,843.9 28,238.3 Net Profit FY17 FY18 (sen) (sen) 7,517.4 8,440.7 4,486.3 4,933.4 5,272.9 5,421.8 2,077.9 2,253.7 Profit growth FY17 FY18 (%) (%) 11.5 12.3 25.9 10.0 1.3 2.8 9.2 8.5 FY17 (x) 12.1 11.0 14.6 13.6 FY18 (x) 10.8 10.0 14.2 12.5 14,016.0 20,731.7 6,221.6 5,595.6 36,495.9 1,399.4 1,963.5 546.1 570.9 2,979.3 7.5 16.8 4.6 1.2 10.9 9.0 5.5 5.4 12.8 8.5 10.0 10.6 11.4 9.8 11.6 9.2 10.0 10.8 8.7 10.8 FY18 (sen) 50.0 22.3 58.0 41.0 18.0 12.0 15.0 8.0 28.0 Div yield FY17 FY18 (%) (%) 5.6% 5.6% 3.6% 4.0% 2.8% 2.9% 3.0% 3.0% 3.4% 3.9% 2.3% 2.3% 3.7% 3.7% 2.8% 2.8% 3.4% 3.5% ROE FY18 (x) 1.1 1.0 1.9 1.2 0.8 0.9 1.1 0.7 1.1 FY17 (%) 10.7 9.7 14.8 9.5 8.9 8.7 11.3 7.3 10.1 1,524.8 2,071.7 575.4 644.1 3,233.2 ROA FY18 (%) 11.3 10.1 13.9 9.8 9.1 8.6 11.1 8.8 10.3 FY17 (%) 1.0 0.9 1.4 1.1 1.0 0.8 1.0 0.8 1.0 DPS FY18 (%) 1.1 0.9 1.3 1.1 1.1 0.8 1.0 0.9 1.0 FY17 (sen) 50.0 20.2 56.0 41.0 16.0 12.0 15.0 8.0 27.3 PER Source: TA Research, Bursa M alaysia, B loomberg Sector Recommendation Guideline OVERWEIGHT: The industry, as per our coverage universe, is expected to outperform the FBMKLCI over the next 12 months. NEUTRAL: The industry, as per our coverage universe, is expected to perform in line with the FBMKLCI over the next 12 months. UNDERWEIGHT: The industry, as per our coverage universe, is expected to underperform the FBMKLCI over the next 12 months. 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 3 of 3
23. RESULTS UPDATE TA Securities Monday , April 03, 2017 FBM KLCI: 1,740.09 Sector: Oil & Gas A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 R Sapura Energy Bhd TP: RM2.02 (+11%) Last Traded: RM1.82 Sailing in Uncertain Waters Hold THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Kylie Chan Sze Zan Tel: +603-2167-9601 kyliechan@ta.com.my Review Sapura Energy Bhd (SEB) reported FY17 core net profit of RM396mn (61% YoY). This was above expectations, accounting for 130% and 120% of our full-year forecast and consensus. The variance was mainly due to higher-than-expected contribution from the drilling segment, Petrobras contracts, and Sapura 3000. In addition, oil production 4.1mn boe (FY16: 4.8mn boe) and cost savings surpassed our expectations. FY17 headline net profit of RM204mn includes:- 1) net FX gain of RM44mn, 2) writeback in provisions of RM1.2mn for O&G fields, 3) asset impairments for Drilling (RM161mn) and E&C (RM123mn), and 4) impact from cessation of Berantai RSC (estimate: RM47mn). Total asset impairments of RM1.1bn nearly halved compared to a year ago (FY16: RM2.0bn). This is reflective of an improved oil price environment. Note that the current book value of SEB’s O&G assets incorporate oil price assumption of less than USD45/bbl. Therefore, there is a possibility of write backs moving forward. We deem FY17 results as resilient, particularly when compared to SEB’s peers. We attribute this largely to:- 1) increased contribution from Petrobras pipelaying contracts (~RM280mn), as the 6th and final vessel was delivered in Aug-16, and 2) cost savings of circa RM800mn (with management pushing for an additional RM200mn in FY18). To a lesser extent, bottomline was boosted by one-off reimbursement from Berantai RSC (ceased: 2QFY17), which is estimated at RM37mn (net of tax). Accordingly, the lower costs were reflected in:- 1) current high EBITDA margin of ~50% for working rigs, and 2) lower EBITDA oil breakeven price of USD30-35/bbl in FY17 (FY16: less than USD50/bbl). The cost measures more than offset lower oil production and lifting price (FY17: USD46/bbl, FY16: USD52/bbl). According to management, SEB is the lowest cost oil producer in Malaysia. Additionally, cost savings also partially cushioned profit decline at the Drilling segment, which suffered from a drop in fleet utilization. SEB declared FY17 DPS of 1 sen (FY16: 1.4 sen), which was above our expectations. www.taonline.com.my Share Information Bloomberg Code Stock Code Listing Share Cap (mn) Market Cap (RMmn) Par Value (RM) 52-wk Hi/Lo (RM) 12-mth Avg Daily Vol ('000 shrs) Estimated Free Float (%) Beta Major Shareholders (%) SAPE MK 5218 Main Market 5,992 10,906 1.00 2.09/1.29 14,814 25 3.14 Sapura Holdings - 16.8 STSB - 15.9 EPF - 11.3 Khasera - 10.1 Forecast Revision (%) Forecast Revision (%) Core Net Profit (RM mn) Consensus TA/Consensus (%) Previous Rating FY18 FY19 13 4 313.7 468.1 267.1 509.4 117 92 Hold (Maintained) Scorecard % of FY 130 120 Above Above Net Debt/Equity (%) ROA (%) ROE (%) NTA/Share (RM) P/NTA (x) FY18 103.4 0.8 2.4 2.2 0.8 FY19 93.2 1.3 3.4 2.3 0.8 Share Performance Price Change (%) 1 mth 3 mth 6 mth 12 mth SAKP (7.6) 8.3 15.9 (3.7) FBMKLCI 1.9 6.4 5.3 1.7 vs TA vs Consensus Financial Indicators (12-Mth) Share Price relative to the FBM KLCI Key Takeaways from Analyst Briefing General: 1) Management maintained its subdued outlook on oil price and the industry environment. SEB expects oil price to average at USD55/bbl in 2017, and opined that it is unlikely to breach USD60/bbl in 2017-18. Meanwhile, as a desperate measure to lock-in contracts, competitors are still ‘throwing prices’, even at loss-making rates. Therefore, management alluded that “the worst is not over”. 2) Outstanding orderbook of RM16.7bn (including JVs) slipped 22% YoY versus FY16 (RM21.3bn). About one-thirds of the total will be recognized Page 1 of 5 Source: Bloomberg
24. TA Securities 3-Apr-17 A Member of the TA Group in FY18 . Meanwhile, tenderbook amounts to USD7bn. 3) Stable new order wins of RM6.3bn in FY17 (FY16: RM6.2bn) was commendable. This was in spite of a competitive environment, coupled with lower capex spend (-14% YoY) by global oil majors in 2016. The bulk of secured contracts originate from SEA (76%). 4) SEB expects higher capex in FY18 after subdued spend in FY17 (RM390mn). This will be largely driven by residual development costs for B15 and to a lesser extent, for SK408. Capex will also be expensed for a 7well campaign that includes infill drilling at PM323, and 2-3 exploration wells at SK408. Balance Sheet: 1) SEB’s balance sheet improved in FY17, underpinned by:- (i) net gearing: 1.2x (FY16: 1.3x), (ii) cash: RM3.5bn (FY16: RM1.9bn), (iii) Operating CF: RM3bn (FY16: RM2.6bn). 2) Robust operating cash flow enabled SEB to finance FY17 capex via internal cash, without the need to draw down on debt facilities. 3) We understand that interest rates remain unchanged for the Mar-17 refinancing of RM1.1bn in short term (ST) debt to long term Sukuk Murabahah. Current ST Debt/Total Debt ratio remains manageable at 0.2x. 4) Cash levels will receive a boost in Jun-17, when SEB receives its final payment tranche (USD63mn) from Petronas for reimbursement of Berantai RSC’s cessation. Drilling: 1) Currently, SEB has 8 out of 16 rigs working. Current fleet utilization of 50% will improve slightly, following commencement of SKD Alliance’s 5+5 year contract with Shell Brunei in Apr-18. 2) In the worst case scenario, according to management, only 5 rigs will be chartered out by end-FY18. Nevertheless, management expects fleet utilization levels to hover at circa 50% in FY18-19. This is underpinned by 2-3 prospective bids in FY18 at SEA and Africa. 3) Management acknowledged that jack-up rigs are now competing in the medium water space traditionally occupied by tender rigs. However, in management’s defense, jackups are primarily deployed to drill exploration wells, whereas tender rigs are used for development wells. Additionally, tender rigs have managed to penetrate the deepwater market. This is evident from the upcoming deployment of SKD Esperanza to Malikai field. 4) On the bright side, DCRs appear to have bottomed out and stabilized since 1QCY16, at current levels of USD70K-90K (tender barge), and USD120K-150K (semi tenders). Energy: 1) Development of SK310 B15 gas field is on track for 1st gas in Oct-17. Production is expected to fully ramp up within a brief period of 1 month thereafter. 2) After additional discoveries of 3 tcf from SK408, SEB’s total net reserves and resources has increased to 243mn boe (FY16: 154.5 mn boe). 3) Despite ballooning O&G reserves that have yet to be monetized, SEB is still keen to acquire new fields. We are positive on this, given that it benefits SEB’s internal EPCIC fleet. Recall that the latter is a key Page 2 of 5
25. TA Securities 3-Apr-17 A Member of the TA Group beneficiary of E &P jobs dished out by the Energy segment via open tender. Impact Major changes to our earnings forecasts include:- 1) incorporating FY17 unaudited figures, 2) increasing contribution from Brazilian operations (Sapura Navegacao), 3) lowering depreciation costs due to cessation of Berantai RSC, 4) increasing E&C order replenishment, and 5) lowering costs at Energy and Drilling segments. Following this, our FY18/19 forecasts are raised by 13%/5%. Additionally, we introduce FY20 forecast of RM688mn (+46% YoY). We expect a weaker FY18, underpinned by:- 1) loss of contribution from Berantai RSC, 2) lower oil production of as per guidance of 3.7mn boe (10% YoY), 3) lower drilling fleet utilization, and 4) slowdown in E&C works, due to completion of projects secured before the oil price downcycle. Valuation We prefer to remain on the sidelines for now, as earnings visibility remain weak at this juncture. In the near term, the bulk of SAKP’s current earnings are mainly derived from engineering and drilling. Contract flows for these segments remain tepid due to:- 1) oversupply of assets (Feb-17 SEA jackup/tender rigs utilization: 50%/48%), and 2) oil majors are still holding back on capex spend (FY17E: -8% YoY). Meanwhile, orderbook replenishment lags burn rate. Whilst oil prices are stabilizing at improved levels, it is unlikely to stage a V-shaped rally in the near term. This is on the back of:- 1) ramp-up in US production (YTD:+150k bpd) may prompt Saudi to arrest production cuts (YTD: -600K bpd) , 2) inventory levels remain at all-time historical highs amidst YTD build-ups (OECD: +6.5mn bbl, US: +36.5mn bbl), 3) expectations of high USD Index by Federal Reserve, 4) possibility that 6-month extension of production cuts at non-OPEC nations will not be exercised in 2H17, and 5) US rig counts at shale fields have been progressively inching up since its trough in May-16 (Jan-17: +19% YoY). Following the revision in our forecasts, our TP for SEB is now raised to RM2.02 (previous: RM1.92) based on unchanged 0.9x CY17 P/B. This implies 28x CY17 P/E (+1.6SD above historical mean). Maintain Hold. Page 3 of 5
26. TA Securities 3-Apr-17 A Member of the TA Group Figure 1 : Quarterly Results Analysis FYE 31 Jan Revenue Core EBITDA EBITDA Margin Depreciation Net Interest Inc Impairment Allowances Share of JCEs Exceptionals Core Pretax Profit Taxation Minority Interests Core Net Profit Reported Net Profit 4Q17 1,812.8 994.2 54.8 (312.9) (215.4) 0.0 147.5 (227.9) 385.3 (47.6) (0.6) 337.1 3Q17 2,221.7 510.5 23.0 (262.1) (184.9) 0.0 91.0 22.3 176.9 (41.8) (0.6) 134.5 109.2 156.8 5.7 1.0 2.3 0.0 Core EPS (sen) DPS (sen) Figure 2: Segmental Analysis 4Q17 FYE 31 Jan (RMmn) Revenue E&C 1,156 Drilling 397 Energy 274 Corporate & Elim (15) Total 1,813 Adjusted Pretax Profit* E&C Drilling Energy Corporate & Elim Total QoQ% (18.4) 94.7 4Q16 2,231.5 1,703.5 76.3 (366.3) (205.5) 0.0 16.7 (1,228.3) (79.8) 0.3 (0.7) (59.3) 19.4 16.5 nm 62.0 >-100 >100 13.9 (7.0) >100 (30.4) (1,287.6) 149.5 nm 3Q17 QoQ 1,566 460 2,222 (2) 2,222 (26.2) (13.7) (87.7) >100 (18.4) 274 34 2 (111) 199 (68.9) (89.9) >100 >100 >-100 85 3 73 (287) (125) YoY YTD FY17 (18.8) 7,651.3 (41.6) 2,880.4 47.8 (14.6) (1,792.1) 4.8 (776.1) nm 0.0 >100 456.9 (81.4) (191.9) >-100 577.2 >-100 (179.1) (13.7) (2.2) >-100 396.0 (%) (sen) (%) (x) (sen) (%) 2016 7,651.3 2,880.4 37.6 385.2 204.0 396.0 6.6 (60.7) 27.4 1.0 0.5 25.3 4.6 nm >100 (89.3) (46.9) >100 >-100 (60.7) (791.3) >-100 204.0 (1.0) 0.0 (669.5) nm 6.6 1.0 16.9 1.4 (60.7) (25.9) 4Q16 YoY FY17 FY16 YoY 7.7 (43.9) (16.2) (112.0) (18.8) 4,544 2,019 1,121 (32) 7,651 5,646 2,956 1,600 (17) 10,184 (19.5) (31.7) (29.9) 83.8 (24.9) (33.6) (96.9) (618.7) (6.3) 56.9 558 239 82 (258) 621 1,087 623 116 (418) 1,408 (48.7) (61.6) (29.4) (38.3) (55.9) 12% 12% 7% 14% 19% 21% 7% 14% 1,073 708 327 124 2,232 128 112 (14) (306) (80) Figure 3: Earnings Summary 2015 10,184.0 4,870.4 47.8 (712.6) (791.3) 1,008.7 16.9 (16.7) 10.8 1.4 0.7 YoY (24.9) (40.9) >-100 Adjusted Pretax Profit Margin* E&C 7% 17% 12% Drilling 1% 7% 16% Energy 27% 1% -4% Group -7% 9% -4% * Excludes one-off asset impairments/write-backs, but includes FX impact FYE Jan (RM mn) Revenue EBITDA EBITDA margin Pretax Profit Reported Net Profit Core Net Profit Core EPS Core EPS growth Core PER DPS Dividend Yield YTD FY16 10,184.0 4,870.4 47.8 (1,430.4) (741.9) (0.9) 190.3 (1,800.1) 1,087.4 (78.8) 0.1 1,008.7 2017E 6,806.3 2,419.1 35.5 432.7 313.7 313.7 5.3 (20.9) 34.7 1.0 0.5 Page 4 of 5 2018F 7,438.0 2,493.3 33.5 644.7 468.1 468.1 7.8 49.3 23.2 1.0 0.5 2019F 8,974.1 2,680.2 29.9 949.7 687.2 687.2 11.5 46.8 15.8 1.0 0.5
27. TA Securities 3-Apr-17 A Member of the TA Group ( T HI S P AGE I S I NT E N T I ON AL L Y L E FT B L ANK) 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 5 of 5
28. Monday , 03 April, 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
29. TA Securities T e c h n i c a l V i e w Monday , April 03, 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 AFFIN Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM2.88 2.91 2.87 2.82 BUY SIMPLE MOVING AVERAGES RM 2.87 RM 2.76 RM 2.64 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day ALLIANCE X Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI www.taonline.com.my RM4.08 4.17 4.07 3.96 BUY SIMPLE MOVING AVERAGES RM 4.10 RM 4.02 RM 3.94 DAILY MACD Recent Signal SELL Signal Change SELL 10-day 30-day 50-day Page 1 of 8
30. AMBANK Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM4 .65 5.02 4.87 4.71 SELL SIMPLE MOVING AVERAGES RM 4.84 RM 4.81 RM 4.70 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day CIMB Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI RM5.57 5.74 5.53 5.31 BUY SIMPLE MOVING AVERAGES RM 5.61 RM 5.38 RM 5.22 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 8
31. GAMUDA Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM5 .18 5.36 5.12 4.89 BUY SIMPLE MOVING AVERAGES RM 5.22 RM 5.06 RM 5.00 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day GENTING Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI RM9.59 9.95 9.60 9.24 10-day 30-day 50-day BUY Recent Signal Signal Change Page 3 of 8 SIMPLE MOVING AVERAGES RM 9.69 RM 9.41 RM 9.02 DAILY MACD SELL
32. MAYBANK Upper Middle Lower BOLLINGER BANDS RM RM RM DMI Recent Signal Signal Change RM8 .92 9.06 8.89 8.71 BUY SIMPLE MOVING AVERAGES RM 8.96 RM 8.78 RM 8.58 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day RHB BANK Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI RM5.17 5.36 5.23 5.10 SELL SIMPLE MOVING AVERAGES RM 5.27 RM 5.15 RM 5.09 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 4 of 8
33. 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 SAPURA ENERGY SUNCON UEMS WASEONG WCT Close 31-Mar 1740 .09 2.88 4.08 4.65 5.06 5.57 5.13 5.18 9.59 5.45 6.00 4.65 1.21 6.44 8.92 1.30 5.17 9.28 13.72 6.42 4.05 3.14 0.40 0.75 0.44 4.21 1.77 1.57 1.25 1.69 2.93 2.24 1.25 0.99 1.70 1.52 1.82 1.76 1.27 0.88 1.93 Change (9.16) 0.02 -0.05 -0.14 -0.09 -0.04 -0.04 -0.13 -0.09 -0.10 0.00 -0.02 0.00 -0.03 0.00 0.00 -0.10 -0.02 -0.02 -0.01 0.00 0.04 0.00 0.01 0.00 -0.09 0.04 0.01 -0.02 0.01 0.32 0.03 0.00 0.01 0.02 -0.01 -0.03 -0.03 0.02 0.01 -0.01 Bollinger Bands RSI Moving Averages DMI Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff 1,748.19 1,740.09 1,711.09 1,737.25 1,763.40 56.81 1,748.43 1,726.14 1,710.74 35.34 18.65 40.58 16.68 High 2.88 4.11 4.79 5.10 5.61 5.13 5.32 9.66 5.59 6.02 4.67 1.23 6.45 8.98 1.30 5.29 9.30 13.82 6.43 4.08 3.14 0.41 0.75 0.45 4.30 1.78 1.60 1.27 1.69 2.93 2.25 1.25 0.99 1.76 1.52 1.88 1.79 1.28 0.88 1.95 Low 2.85 4.05 4.64 5.03 5.50 5.10 5.16 9.53 5.45 5.99 4.61 1.21 6.40 8.91 1.28 5.17 9.25 13.72 6.38 3.96 3.05 0.40 0.75 0.44 4.21 1.72 1.53 1.25 1.67 2.61 2.20 1.25 0.98 1.66 1.51 1.82 1.76 1.25 0.87 1.92 2.82 3.96 4.71 4.54 5.31 5.06 4.89 9.24 5.20 5.87 4.62 1.16 6.34 8.71 1.12 5.10 9.01 13.67 6.25 3.82 2.66 0.39 0.69 0.43 4.12 1.62 1.47 1.19 1.67 1.46 2.11 1.22 0.86 1.44 1.51 1.75 1.68 1.18 0.85 1.81 2.87 4.07 4.87 4.89 5.53 5.13 5.12 9.60 5.48 5.97 4.69 1.19 6.41 8.89 1.21 5.23 9.26 13.72 6.35 3.97 2.90 0.40 0.73 0.45 4.23 1.69 1.52 1.26 1.70 2.41 2.22 1.25 0.94 1.58 1.53 1.89 1.75 1.25 0.88 1.87 2.91 4.17 5.02 5.25 5.74 5.19 5.36 9.95 5.75 6.08 4.77 1.22 6.47 9.06 1.31 5.36 9.51 13.78 6.46 4.12 3.13 0.41 0.77 0.46 4.34 1.75 1.57 1.32 1.73 3.36 2.33 1.29 1.03 1.72 1.55 2.02 1.81 1.32 0.90 1.93 67.02 54.79 39.27 59.56 62.62 54.45 55.59 56.70 51.54 47.98 47.73 53.50 57.52 60.15 77.97 49.08 53.55 53.22 64.49 53.82 72.12 48.52 57.30 46.44 48.63 70.60 62.55 56.35 50.07 81.26 58.52 45.33 61.62 69.93 43.14 42.77 51.68 59.08 48.98 60.41 2.87 4.10 4.84 5.05 5.61 5.14 5.22 9.69 5.58 6.00 4.69 1.19 6.42 8.96 1.26 5.27 9.36 13.73 6.39 4.01 2.96 0.40 0.75 0.44 4.27 1.71 1.53 1.27 1.69 2.63 2.20 1.25 0.98 1.64 1.52 1.87 1.77 1.28 0.89 1.87 2.76 4.02 4.81 4.79 5.38 5.10 5.06 9.41 5.40 5.99 4.68 1.19 6.39 8.78 1.19 5.15 9.21 13.66 6.29 3.98 2.83 0.40 0.74 0.45 4.21 1.67 1.52 1.21 1.69 2.02 2.21 1.27 0.92 1.53 1.55 1.89 1.75 1.22 0.88 1.87 2.64 3.94 4.70 4.83 5.22 5.06 5.00 9.02 5.21 6.11 4.64 1.23 6.31 8.58 1.16 5.09 9.09 13.64 6.21 4.06 2.73 0.40 0.70 0.45 4.20 1.62 1.49 1.16 1.68 1.59 2.18 1.30 0.90 1.50 1.58 1.85 1.73 1.18 0.87 1.87 22.31 19.47 16.78 32.72 32.78 17.86 23.68 23.40 27.81 19.14 20.04 24.00 19.13 21.92 28.87 16.68 23.19 15.10 22.40 14.44 33.82 19.42 23.83 22.91 19.72 34.53 31.57 26.57 19.89 46.03 24.14 19.94 36.69 38.27 20.68 16.95 16.36 22.33 23.64 19.93 12.63 18.46 29.53 21.81 16.93 23.24 19.45 13.12 19.32 19.58 19.99 13.23 19.47 18.81 7.43 19.70 23.68 19.65 10.15 23.60 10.37 10.98 16.01 16.68 14.07 6.50 8.90 12.37 24.93 14.04 16.86 31.64 15.60 4.56 20.86 22.64 10.87 10.12 18.82 19.41 44.01 28.49 27.75 22.45 42.96 11.94 26.16 55.73 42.67 12.64 18.43 22.39 12.80 29.71 42.65 19.20 17.21 20.56 31.93 38.72 30.55 24.75 18.58 19.84 18.57 48.16 35.84 43.51 10.89 53.23 16.50 18.25 32.89 55.50 18.01 22.49 27.66 42.59 19.99 19.68 9.68 1.00 (12.75) 10.92 15.85 (5.38) 4.23 10.28 8.50 (0.44) 0.05 10.78 (0.34) 3.11 21.44 (3.02) (0.49) (4.55) 12.25 (9.16) 23.44 8.45 6.23 5.65 28.03 28.03 22.67 14.20 (5.04) 31.99 7.28 (11.69) 21.09 33.71 (0.19) (5.69) 5.49 12.21 4.82 0.52 Line 11.66 0.06 0.05 0.02 0.10 0.12 0.03 0.08 0.19 0.11 -0.02 0.01 0.02 0.03 0.11 0.04 0.05 0.09 0.02 0.06 0.00 0.10 0.00 0.01 0.00 0.02 0.03 0.02 0.03 0.00 0.34 0.01 -0.01 0.03 0.06 -0.02 0.00 0.01 0.03 0.00 0.01 MACD Signal Diff 12.73 (1.065) 0.08 0.05 0.05 0.07 0.13 0.03 0.07 0.23 0.12 -0.04 0.02 0.01 0.03 0.13 0.03 0.06 0.10 0.03 0.06 -0.02 0.08 0.00 0.01 0.00 0.03 0.03 0.01 0.04 0.00 0.36 0.01 -0.01 0.02 0.05 -0.02 0.01 0.01 0.03 0.00 0.00 (0.015) (0.003) (0.033) 0.023 (0.016) (0.001) 0.010 (0.046) (0.011) 0.015 (0.010) 0.003 0.000 (0.018) 0.007 (0.014) (0.011) (0.001) 0.000 0.023 0.021 (0.000) (0.001) (0.002) (0.002) 0.004 0.003 (0.008) (0.003) (0.020) 0.000 0.002 0.003 0.010 0.002 (0.009) 0.001 (0.003) (0.001) 0.007 DMI MACD DMI MACD Recent Signal Signal Change BUY SELL BUY BUY SELL BUY BUY SELL BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL SELL SELL BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL SELL BUY BUY BUY BUY SELL SELL SELL BUY SELL SELL BUY SELL SELL BUY SELL BUY BUY SELL BUY SELL SELL SELL BUY BUY BUY SELL SELL SELL SELL BUY BUY SELL SELL SELL BUY BUY BUY BUY BUY SELL BUY SELL SELL BUY SELL SELL SELL - SELL SELL SELL SELL SELL SELL BUY 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
34. 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 SAPURAENERGY SAPURAENERGY SAPURAENERGY SAPURAENERGY SAPURAENERGY 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 31-Mar-17 Price 3.14 3.14 3.14 3.14 0.40 0.40 0.40 0.40 4.08 5.06 5.06 5.06 0.44 0.44 0.44 0.44 0.75 0.75 0.75 0.75 0.75 5.57 4.21 4.21 4.21 1.77 1.77 1.77 1.77 1.57 1.57 1.57 1.25 1.25 1.25 1.25 1.25 5.18 5.45 5.45 9.59 9.59 1.69 1.69 1.69 1.69 6.00 6.00 4.65 2.93 2.93 2.93 2.24 2.24 2.24 2.24 1.25 1.21 1.21 1.21 1.21 1.21 8.92 1.30 1.30 1.70 1.70 1.70 0.99 0.99 0.99 0.99 1.52 1.52 1.52 5.17 1.82 1.82 1.82 1.82 1.82 1.76 1.76 1.76 1.76 1.76 13.72 6.42 6.42 6.42 1.27 1.27 1.27 0.88 0.88 1.93 1.93 1.93 4.05 4.05 4.05 4.05 Change (+/-) 0.30 0.62 0.76 0.39 (0.04) 0.02 0.02 0.00 0.45 0.75 0.78 0.49 0.03 (0.01) 0.01 0.00 0.11 0.09 0.12 0.13 0.03 0.93 0.44 0.09 0.02 0.23 0.17 0.09 0.06 0.21 0.16 0.02 0.16 0.30 0.25 0.19 0.18 0.36 0.77 0.88 1.64 1.62 0.07 0.03 (0.03) (0.01) (0.36) (0.42) 0.27 2.11 2.11 2.03 0.05 0.16 0.06 0.04 (0.12) (0.22) (0.16) (0.19) (0.09) 0.04 1.17 0.37 0.39 0.41 0.33 0.18 0.22 0.05 0.12 0.09 0.02 (0.09) (0.01) 0.53 0.38 0.12 (0.03) (0.13) (0.06) 0.09 0.14 0.04 0.04 0.04 (0.30) 0.47 0.36 0.29 0.24 0.17 0.01 (0.06) (0.03) 0.16 0.15 0.10 (0.38) (0.25) (0.13) 0.06 ST % 10.56 24.60 31.93 14.18 (9.09) 5.26 3.90 0.00 12.40 17.40 18.22 10.72 6.02 (2.22) 2.33 0.00 17.19 13.64 19.05 20.00 3.45 20.04 11.67 2.18 0.48 14.94 10.63 5.36 3.51 15.44 11.35 1.29 14.68 31.58 25.00 17.92 16.82 7.47 16.45 19.26 20.63 20.33 4.32 1.81 (1.74) (0.59) (5.66) (6.54) 6.16 257.32 255.15 225.56 2.28 7.69 2.75 1.82 (8.76) (15.38) (11.68) (13.57) (6.92) 3.42 15.10 39.78 42.86 31.78 24.09 11.84 27.92 5.35 13.22 9.44 1.33 (5.59) (0.65) 11.42 26.39 7.06 (1.62) (6.67) (3.19) 5.39 8.64 2.33 2.33 2.33 (2.14) 7.90 5.94 4.73 23.30 15.45 0.79 (5.91) (2.78) 9.04 8.43 5.46 (8.58) (5.81) (3.11) 1.50 Upside Targets ** MT 3.60 3.60 3.60 3.60 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 3.41 3.41 3.41 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 1.89 1.89 1.89 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 4.36 4.36 4.36 4.36 3.30 3.30 3.30 3.30 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 3.20 3.20 3.20 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 1.83 1.83 1.83 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 4.22 4.22 4.22 4.22 LT 3.90 3.90 3.90 3.90 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 3.71 3.71 3.71 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 1.97 1.97 1.97 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 4.59 4.59 4.59 4.59 ST 5.10 5.10 5.10 5.10 10.00 10.00 10.00 10.00 7.11 1.98 1.98 1.98 11.36 11.36 11.36 11.36 1.33 1.33 1.33 1.33 1.33 4.85 8.79 8.79 8.79 0.56 0.56 0.56 0.56 4.46 4.46 4.46 8.00 8.00 8.00 8.00 8.00 3.47 6.79 6.79 2.50 2.50 7.10 7.10 7.10 7.10 3.83 3.83 5.38 9.22 9.22 9.22 7.14 7.14 7.14 7.14 12.80 4.13 4.13 4.13 4.13 4.13 3.14 2.31 2.31 7.65 7.65 7.65 10.66 10.66 10.66 10.66 10.53 10.53 10.53 6.38 14.29 14.29 14.29 14.29 14.29 13.64 13.64 13.64 13.64 13.64 2.19 2.18 2.18 2.18 7.87 7.87 7.87 8.57 8.57 2.59 2.59 2.59 4.20 4.20 4.20 4.20 % Upside MT 14.65 14.65 14.65 14.65 25.00 25.00 25.00 25.00 14.71 8.30 8.30 8.30 20.45 20.45 20.45 20.45 8.00 8.00 8.00 8.00 8.00 7.72 16.86 16.86 16.86 6.21 6.21 6.21 6.21 11.46 11.46 11.46 18.40 18.40 18.40 18.40 18.40 10.81 11.93 11.93 8.24 8.24 11.24 11.24 11.24 11.24 7.33 7.33 8.39 16.38 16.38 16.38 13.39 13.39 13.39 13.39 20.80 9.92 9.92 9.92 9.92 9.92 7.62 13.85 13.85 11.18 11.18 11.18 18.78 18.78 18.78 18.78 23.68 23.68 23.68 10.06 24.73 24.73 24.73 24.73 24.73 21.02 21.02 21.02 21.02 21.02 4.66 5.92 5.92 5.92 19.69 19.69 19.69 18.86 18.86 13.47 13.47 13.47 7.65 7.65 7.65 7.65 LT 24.20 24.20 24.20 24.20 37.50 37.50 37.50 37.50 19.36 14.62 14.62 14.62 29.55 29.55 29.55 29.55 17.33 17.33 17.33 17.33 17.33 11.13 26.60 26.60 26.60 10.73 10.73 10.73 10.73 19.75 19.75 19.75 24.80 24.80 24.80 24.80 24.80 15.25 17.25 17.25 11.78 11.78 14.79 14.79 14.79 14.79 10.00 10.00 15.27 26.62 26.62 26.62 19.64 19.64 19.64 19.64 28.00 17.36 17.36 17.36 17.36 17.36 10.54 23.08 23.08 15.88 15.88 15.88 29.95 29.95 29.95 29.95 34.21 34.21 34.21 13.15 37.36 37.36 37.36 37.36 37.36 26.14 26.14 26.14 26.14 26.14 8.60 9.50 9.50 9.50 25.98 25.98 25.98 30.29 30.29 20.21 20.21 20.21 13.33 13.33 13.33 13.33 GADANG* - Share price adjusted for 1:4 Bonus Issue Total funds invested * Total unrealised profit/(loss) Return 243,180 24,430 10.05% 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
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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) 27-Mar 28-Mar 29-Mar FBMKLCI (13.8) (24.9) 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 (0.3) (0.1) (1.4) 0.9 4.8 3.9 (0.3) (0.8) (6.1) (1.4) (0.9) 0.3 (0.1) 0.5 (0.8) (0.4) 5.1 (6.6) 0.3 (0.1) (0.4) 0.5 0.1 (0.1) (0.0) 0.7 (0.6) (0.3) 0.0 0.1 (0.0) 0.0 0.1 0.7 (0.0) (0.3) 0.4 (0.2) (0.0) (0.1) (0.0) (0.1) 0.4 (15.6) (1.2) (1.1) 2.1 1.0 (10.7) 0.8 2.4 (0.4) 0.2 (2.5) (0.3) (0.5) 6.5 (5.8) (0.8) (0.2) 0.2 0.0 0.1 0.0 (0.3) 0.2 0.1 (0.1) (0.0) 0.1 0.0 (0.0) 0.0 (0.9) (0.0) (0.5) 0.0 (0.3) 0.0 (0.1) stsoo@ta.com.my (A) Total 5D MF Prv. Chg (B) Cur. Chg www.taonline.com.my CLOSING PRICE 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar (A+B) DMF 30-Mar 31-Mar Chg (6.7) (1.0) (9.0) (55.4) 5.8 (8.0) 1,745 1,754 1,750 1,749 1,740 (9.16) OUT 0.0 (0.6) 0.1 (1.5) 4.3 (3.2) 18.3 (0.2) 0.8 (3.5) (1.6) (0.5) 0.1 1.4 0.4 (0.2) 3.9 (4.6) (2.1) 0.2 (2.6) 0.0 0.2 0.0 (0.0) 4.0 0.8 (0.0) 0.1 (0.2) 0.0 0.0 0.0 (0.7) 0.0 (1.5) (0.1) 0.2 (0.1) (0.1) (0.1) 0.0 (2.9) 8.6 17.2 3.2 1.2 (3.1) 0.1 (0.9) (0.3) (0.5) (0.3) (10.5) 0.8 (0.5) 18.9 (12.0) (2.8) 0.4 (0.7) (0.2) 0.1 0.0 (0.2) 1.6 (0.0) 0.0 (0.0) 0.9 0.1 0.0 0.2 0.8 0.0 (1.5) 1.1 0.0 0.0 0.0 0.0 (0.0) (3.1) (1.1) 9.0 4.6 0.4 (2.4) 0.2 (0.5) (0.8) (0.1) (0.3) (0.8) 0.4 (0.5) 2.6 0.6 0.1 0.0 1.7 0.1 0.1 (0.0) (0.2) 1.9 (0.3) (0.1) (0.0) 0.9 0.1 0.0 0.1 0.3 0.0 (0.6) 1.0 (0.1) 0.0 0.2 (0.4) (0.7) (6.8) (8.6) 34.1 7.3 21.7 (5.6) (15.7) (5.5) (1.2) (1.1) (0.5) (11.9) 0.4 (2.2) 37.0 (28.5) (5.3) 0.4 (1.9) 0.4 0.6 (0.1) (0.7) 8.4 (0.0) (0.4) 0.0 1.8 0.2 (0.0) 0.3 0.1 0.0 (4.4) 2.4 (0.3) (0.0) (0.1) (0.1) 0.6 (3.0) 10.1 12.9 6.4 (17.1) (2.9) (0.7) 2.6 1.3 0.0 (0.4) (11.9) 0.4 (0.4) 15.0 (7.4) (0.7) 0.2 1.9 (0.2) (0.1) (0.0) (0.2) (2.4) (0.8) 0.0 (0.1) 1.1 0.1 0.0 0.2 1.5 (0.0) (0.0) 1.1 (0.2) 0.1 0.1 0.1 (0.0) (0.2) (9.7) (8.2) 1.4 (0.9) 0.7 0.0 0.4 (0.5) 0.4 0.0 9.7 (0.4) 0.0 (16.2) 12.6 2.9 (0.4) 2.4 0.2 0.1 (0.1) 0.0 0.3 (0.3) (0.1) 0.0 0.0 (0.1) 0.0 (0.1) (0.5) (0.0) 0.9 (0.1) (0.1) 0.0 0.2 2.82 4.00 4.73 4.98 5.62 5.15 5.19 9.50 5.65 5.99 4.70 1.18 6.42 8.97 1.23 5.14 9.45 13.70 6.38 4.38 2.95 0.40 0.73 0.44 4.25 1.72 1.51 1.27 1.68 2.49 2.20 1.25 0.97 1.66 1.51 3.50 1.78 1.25 0.89 1.87 2.84 4.14 4.85 5.05 5.56 5.17 5.25 9.75 5.75 6.00 4.71 1.19 6.44 9.00 1.26 5.30 9.39 13.74 6.41 4.38 3.06 0.41 0.74 0.44 4.23 1.73 1.51 1.26 1.67 2.57 2.20 1.25 0.97 1.64 1.51 3.51 1.80 1.28 0.89 1.85 2.84 4.13 4.85 5.13 5.58 5.16 5.33 9.67 5.70 6.00 4.65 1.21 6.44 8.97 1.28 5.25 9.40 13.74 6.41 4.38 3.07 0.41 0.76 0.44 4.28 1.71 1.52 1.25 1.69 2.62 2.21 1.25 0.98 1.64 1.52 3.50 1.75 1.28 0.90 1.84 2.88 4.08 4.65 5.06 5.57 5.13 5.18 9.59 5.45 6.00 4.65 1.21 6.44 8.92 1.30 5.17 9.28 13.72 6.42 4.38 3.14 0.40 0.75 0.44 4.21 1.77 1.57 1.25 1.69 2.93 2.24 1.25 0.99 1.70 1.52 3.40 1.76 1.27 0.88 1.93 2.88 4.08 4.65 5.06 5.57 5.13 5.18 9.59 5.45 6.00 4.65 1.21 6.44 8.92 1.30 5.17 9.28 13.72 6.42 4.38 3.14 0.40 0.75 0.44 4.21 1.77 1.57 1.25 1.69 2.93 2.24 1.25 0.99 1.70 1.52 3.40 1.76 1.27 0.88 1.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 IN IN OUT IN IN IN OUT OUT OUT IN IN IN OUT OUT OUT OUT OUT IN IN OUT IN IN OUT OUT OUT OUT OUT OUT OUT IN IN OUT IN IN OUT IN IN OUT 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 7 of 8
36. 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 27-Mar (13.8) (1.4) (0.0) 0.9 0.0 4.8 3.9 (0.1) (0.8) (6.1) (0.0) (0.0) (1.4) (0.9) (4.5) 0.5 (0.1) 0.3 0.3 (0.6) 0.5 (0.3) (6.1) (0.4) (0.3) 5.1 0.3 (6.6) 0.0 (0.0) (0.9) Tel: +603-2167 9607 Total Money Flow (RM'mn) 28-Mar 29-Mar 30-Mar (24.9) (6.7) (1.0) 0.4 0.1 (2.9) 0.5 0.0 (0.1) (15.6) (1.5) 8.6 (0.4) (0.8) (1.0) (1.2) 4.3 17.2 (1.1) (0.2) 1.0 (10.7) 0.6 0.1 0.8 2.4 (0.4) (2.5) 0.2 0.1 (0.0) (1.7) 2.2 (0.0) 2.2 (0.5) (0.5) 6.5 (0.8) (5.8) 0.1 0.1 (0.4) (3.2) 0.2 (0.2) 0.8 0.4 (0.0) (3.5) (1.6) (0.5) 1.4 0.1 (0.8) 2.1 (0.8) (0.1) (1.1) 2.9 (0.2) (1.5) 3.9 (2.1) (4.6) 0.3 (0.0) (1.0) 3.2 0.4 (3.1) 0.1 0.3 (0.5) (0.9) (0.3) (7.9) (10.5) (0.3) (1.8) (0.4) (2.9) (2.6) (1.2) 4.7 (0.5) (1.5) 18.9 (2.8) (12.0) (0.4) 0.8 (1.6) 31-Mar (9.0) (3.1) (0.2) (1.1) (1.2) 9.0 4.6 0.0 (2.4) 0.2 0.0 (0.3) (0.5) (0.8) (8.0) (0.8) (0.3) (1.8) (0.0) (2.7) (1.1) (0.7) 0.1 (0.5) (0.6) 2.6 0.1 0.6 (0.2) 0.7 (0.4) stsoo@ta.com.my Total 5D MF (55.4) (6.8) 0.3 (8.6) (3.4) 34.1 7.3 0.4 (5.6) (15.7) 1.3 (0.7) (5.5) (1.2) (21.2) (11.9) (0.5) (4.0) 2.0 (8.7) (1.1) (3.3) 3.8 (2.2) (4.4) 37.0 (5.3) (28.5) (0.3) 1.5 (4.2) (A) Prv. Chg 5.8 (3.0) (0.1) 10.1 (0.3) 12.9 6.4 0.2 (2.9) (0.7) (0.1) (0.5) 2.6 1.3 (7.4) (11.9) (0.4) (1.1) (2.5) (2.2) (2.5) (0.0) 1.8 (0.4) (0.0) 15.0 (0.7) (7.4) (0.8) 0.8 (0.5) (B) Cur. Chg (8.0) (0.2) (0.1) (9.7) (0.2) (8.2) 1.4 (0.4) 0.7 0.0 (0.3) 0.2 0.4 (0.5) (0.1) 9.7 0.0 (0.0) 0.3 0.2 1.5 0.4 (4.7) 0.0 0.9 (16.2) 2.9 12.6 0.2 (0.1) 1.2 27-Mar 1,745 4.73 2.82 4.98 47.98 5.62 28-Mar 1,754 4.85 2.87 5.05 47.90 5.56 5.15 3.94 9.50 5.65 13.46 16.10 5.99 4.70 24.70 8.97 6.42 7.37 7.58 23.78 19.72 16.66 19.92 5.14 3.50 9.45 6.38 13.70 7.91 9.00 1.48 5.17 4.08 9.75 5.75 13.66 16.50 6.00 4.71 24.78 9.00 6.44 7.40 7.60 24.84 19.96 16.70 19.92 5.30 3.51 9.39 6.41 13.74 7.99 9.05 1.48 www.taonline.com.my CLOSING PRICE 29-Mar 30-Mar 1,750 1,749 4.85 4.65 2.81 2.74 5.13 5.06 45.44 45.60 5.58 5.57 5.16 4.07 9.67 5.70 13.68 16.16 6.00 4.65 24.78 8.97 6.44 7.34 7.62 23.90 19.80 16.70 19.94 5.25 3.50 9.40 6.41 13.74 7.99 9.02 1.49 5.13 4.05 9.59 5.45 13.76 15.90 6.00 4.65 24.68 8.92 6.44 7.32 7.70 24.00 19.76 16.74 19.90 5.17 3.40 9.28 6.42 13.72 7.93 8.99 1.49 31-Mar 1,740 4.65 2.74 5.06 45.60 5.57 5.13 4.05 9.59 5.45 13.76 15.90 6.00 4.65 24.68 8.92 6.44 7.32 7.70 24.00 19.76 16.74 19.90 5.17 3.40 9.28 6.42 13.72 7.93 8.99 1.49 Chg (9.16) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (A+B) DMF OUT OUT OUT IN OUT IN IN OUT OUT OUT OUT OUT IN IN OUT OUT OUT OUT OUT OUT OUT IN OUT OUT IN OUT IN IN OUT IN IN (RM'mn) Daily Trading Participation INFLOW 16.7 17.0 16.5 54.2 17.8 122.2 OUTFLOW (30.6) (13.8) (41.9) (24.9) (23.3) (6.7) (55.2) (1.0) (26.8) (9.0) (177.7) (55.5) 11 (19) 14 (16) 12 (18) 9 (21) 10 (20) NET FLOW COMPANIES INFLOW OUTFLOW Date Retail Institution Foreign Total 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar 28.2% 24.0% 23.9% 23.7% NA 54.8% 55.9% 54.4% 54.5% NA 17.0% 20.1% 21.7% 21.8% 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
37. T e c h n i c a l TA Securities V i e w Monday , April 03, 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 Stocks Under Coverage low of Stocks Under C Malaysia FBMKLCI:1,740.09 (-9.16, -0.52%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 Total Money Flow (RM' mn) Name FBM KLCI AUTOMOBILE BJAUTO MBMR stsoo@ta.com.my www.taonline.com.my (B) 28-Mar 29-Mar 30-Mar 31-Mar Total 5D MF (A) 27-Mar Prv. Chg Cur. Chg CLOSING PRICE (13.8) (24.9) (6.7) (1.0) (9.0) (55.4) 5.8 (8.0) 1,745.0 1,754.4 1,750.4 1,749.3 1,740.1 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar Chg (A+B) DMF (9.16) OUT 0.0 0.1 0.1 0.8 (0.7) 0.1 2.00 2.49 2.50 2.50 2.52 2.00 2.52 0.00 0.00 OUT (0.1) 0.7 (0.0) 2.03 (0.1) 1.1 (0.3) 2.00 (0.1) 0.1 0.0 2.03 0.0 0.3 BANKS & FINANCIAL SERVICES (0.0) (0.0) 0.2 0.2 0.6 0.2 (0.0) 6.02 6.03 6.14 6.00 6.00 0.00 IN AFG (0.1) (0.1) (0.6) 0.0 (0.0) (0.7) 0.6 (0.0) 4.00 4.14 4.13 4.08 4.08 0.00 IN AFFIN (0.3) (0.0) 0.0 (0.1) 0.0 (0.4) (0.1) 0.1 2.82 2.84 2.84 2.88 2.88 0.00 IN AMBANK CIMB (1.4) 0.4 0.1 (2.9) 4.65 5.62 5.56 5.58 5.57 4.65 5.57 0.00 0.00 OUT 17.2 (0.2) (8.2) 4.85 4.3 (3.0) 12.9 4.85 (1.2) (6.8) 34.1 4.73 4.8 (3.1) 9.0 HLBANK (0.0) 0.6 0.4 0.3 0.0 1.3 (0.1) (0.3) 13.46 13.66 13.68 13.76 13.76 0.00 OUT MAYBANK 0.5 (2.5) 1.4 (10.5) (0.8) (11.9) (11.9) 9.7 8.97 9.00 8.97 8.92 8.92 0.00 OUT PBANK (6.1) 2.2 2.9 4.7 0.1 3.8 1.8 (4.7) 19.92 19.92 19.94 19.90 19.90 0.00 OUT RHBBANK (0.4) 1.3 (0.5) 1.1 (0.2) 0.6 (0.5) 5.4 (0.5) (2.2) (0.4) 0.0 4.8 (5.5) 5.25 9.88 5.17 9.78 0.00 8.3 5.30 9.90 5.17 (0.1) 5.14 9.66 9.78 0.00 OUT OUT UMW BURSA IN IN CONSTRUCTION BPURI (0.1) 0.0 0.0 0.0 (0.0) (0.1) (0.0) (0.1) 0.44 0.44 0.44 0.44 0.44 0.00 OUT GADANG GAMUDA (0.3) (0.1) (0.0) 0.0 1.25 5.19 5.25 5.33 5.18 1.25 5.18 0.00 0.00 OUT 1.2 (0.1) (0.9) 1.25 18.3 0.0 (17.1) 1.26 2.1 (0.4) 21.7 1.27 (0.3) (0.1) 0.4 IJM (0.3) (0.5) (1.5) (1.5) (0.6) (4.4) (0.0) 0.9 3.50 3.51 3.50 3.40 3.40 0.00 IN SENDAI 0.0 0.0 (0.1) (0.0) (0.0) (0.1) 0.1 (0.0) 0.66 0.67 0.69 0.69 0.69 0.00 IN WCT (0.1) (0.1) (0.1) 0.0 0.2 (0.1) 0.1 0.2 1.87 1.85 1.84 1.93 1.93 0.00 IN LITRAK (0.1) 0.2 0.1 (1.5) 0.1 (1.2) (1.6) 1.6 5.89 5.95 5.99 6.02 6.02 0.00 OUT Building Materials WTHORSE CONSUMER (0.0) 0.0 0.0 0.0 0.0 (0.0) 0.0 (0.0) 1.98 1.98 1.98 1.99 1.99 0.00 IN OUT Brewery CARLSBG (0.1) 0.0 0.1 0.1 0.0 0.1 (0.1) (0.0) 14.86 14.94 15.00 15.00 15.00 0.00 OUT GUINESS Retail 0.0 0.0 0.0 0.1 0.0 0.2 0.0 (0.0) 17.90 17.82 17.84 17.90 17.90 0.00 IN AEON 0.0 0.1 0.1 (0.1) 0.0 0.1 (0.2) 0.1 2.39 2.37 2.38 2.36 2.36 0.00 OUT AMWAY (0.0) (0.1) 0.0 (0.0) (0.0) (0.1) (0.1) 0.0 7.45 7.44 7.40 7.34 7.34 0.00 OUT F&N 0.7 (0.0) (0.6) (0.7) (0.0) (0.6) (0.1) 0.7 24.52 24.88 24.88 24.68 24.68 0.00 IN NESTLE 23.6 (0.1) (0.0) (0.0) 0.2 (0.6) (0.0) 23.7 0.2 (0.2) (1.5) (0.5) 0.2 78.60 2.91 78.62 2.93 79.38 3.00 0.00 (0.4) 78.40 2.93 79.38 PADINI 0.0 (0.5) 3.00 0.00 IN OUT POHUAT (0.2) (0.0) (0.1) 0.0 (0.0) (0.3) 0.1 (0.0) 1.87 1.88 1.88 1.86 1.86 0.00 IN QL 0.0 (0.1) 0.1 (0.1) 0.0 (0.0) (0.1) 0.1 4.56 4.59 4.65 4.56 4.56 0.00 OUT SIGN Tobacco 0.1 0.0 (0.0) 0.3 0.1 0.4 0.4 (0.3) 0.92 0.92 0.96 0.98 0.98 0.00 IN BAT 0.0 (0.4) (0.8) (1.0) (1.2) (3.4) (0.3) (0.2) 47.98 47.90 45.44 45.60 45.60 0.00 OUT (0.8) (6.1) 1.0 (10.7) (0.2) 0.8 (3.1) 0.1 (2.4) (5.6) (2.9) 0.7 (15.7) (0.7) 0.0 9.75 5.75 9.67 5.70 9.59 5.45 0.00 0.2 9.50 5.65 9.59 GENM 5.45 0.00 OUT OUT LUSTER 0.0 0.0 (0.0) (0.1) (0.1) (0.2) (0.1) 0.0 0.11 0.12 0.12 0.12 0.12 0.00 OUT (0.0) 0.4 0.6 0.7 0.3 1.9 0.2 (0.5) 2.92 2.93 2.92 2.91 2.91 0.00 OUT GAMING Casino GENTING NFO BJTOTO HEALTHCARE Hospital IHH (1.4) 0.8 (3.5) (0.9) (0.5) (5.5) 2.6 0.4 4.77 4.77 4.77 4.77 4.77 0.00 IN KPJ (0.1) (0.0) 0.0 (0.0) (0.0) (0.1) (0.0) (0.0) 4.00 4.00 4.05 4.05 4.05 0.00 OUT (0.2) 0.0 (0.5) (0.0) (0.4) (0.0) 0.2 (0.2) 0.3 (0.6) 0.6 0.0 (0.3) (0.1) 0.0 4.94 6.30 4.85 6.30 4.96 6.23 0.00 (0.1) 4.94 6.30 4.96 KOSSAN 6.23 0.00 IN OUT SUPERMX (0.2) 0.1 0.1 0.0 0.0 0.1 (0.1) (0.0) 1.99 1.99 1.98 1.99 1.99 0.00 OUT TOPGLOV KAREX (0.6) (0.4) 0.1 (0.3) 4.92 2.10 2.10 2.05 2.16 4.92 2.16 0.00 0.00 OUT 0.1 0.2 0.5 5.00 0.8 (0.4) (0.7) 4.99 (0.0) (1.3) 1.4 4.99 0.0 (0.1) 0.6 SCIENTX 1.6 (0.0) (0.1) 0.5 0.0 2.0 0.6 (0.5) 7.27 7.30 7.30 7.38 7.38 0.00 IN SKPRES 0.1 (0.0) 0.1 0.6 (0.0) 0.8 0.6 (0.6) 1.31 1.28 1.25 1.27 1.27 0.00 OUT (0.0) 0.3 0.5 (0.0) 0.0 0.3 (0.1) 0.8 (0.2) 0.3 (0.1) (0.1) 1.5 0.6 (0.7) 2.87 1.15 2.81 1.15 2.74 1.15 0.00 0.1 2.82 1.15 2.74 MEDIA PRIMA 1.15 0.00 OUT OUT STAR 0.1 (0.1) 0.1 (0.0) (0.0) (0.0) (0.1) 0.0 2.49 2.50 2.40 2.41 2.41 0.00 OUT RUBBER GLOVES HARTA OUT INDUSTRIAL MEDIA ASTRO Page 1 of 2
38. TA Securities A Member of the TA Group Total Money Flow (RM' mn) Name OIL & GAS EATECH MHB MISC PANTECH PCHEM SKPETRO UMWOG UZMA PLANTATIONS FGV IJMPLANT 27-Mar 28-Mar 29-Mar 30-Mar (0.1) (0.0) (0.0) (0.0) (0.0) 0.0 (0.0) (0.0) 0.3 0.1 0.3 0.1 0.0 (0.0) (0.8) (0.0) 2.1 (1.8) (0.0) (0.4) 0.3 0.1 0.1 0.1 0.0 (0.0) 0.0 0.1 0.0 0.0 0.0 0.0 (0.9) 0.3 (1.0) 0.3 0.0 (0.9) (0.0) 2.4 (0.0) (1.6) 0.1 (0.3) (4.5) 5.1 0.0 (0.4) 6.5 0.0 (0.5) 3.9 (0.1) (7.9) 18.9 (0.1) (0.0) 0.0 (0.0) (0.0) (0.0) (0.0) 0.0 0.0 (0.3) 0.1 0.1 0.1 0.0 0.1 1.2 0.0 0.5 0.1 (0.8) 0.2 0.2 0.1 1.8 (0.1) (0.0) (0.0) 0.0 0.0 (0.1) (0.0) (0.2) 0.1 0.3 (0.6) (0.4) (1.7) (0.5) (0.8) (0.5) (2.9) 0.5 TENAGA (6.6) YTLPOWR (0.7) TELECOMMUNICATIONS 2.2 (5.8) 0.5 (0.1) (4.6) (0.2) (2.6) (12.0) 0.6 AXIATA DIGI 0.9 (15.6) (1.5) 8.6 3.9 (0.1) 0.3 (1.1) 0.2 (0.8) (3.2) 0.1 (2.1) 3.2 (0.3) (2.8) 0.1 0.0 (0.6) (0.1) (0.0) 0.7 (0.1) 0.1 (0.8) (0.2) (0.5) (0.1) (0.0) (0.4) 0.6 0.2 (0.1) (0.2) (0.1) 0.1 (0.2) 27-Mar 28-Mar IOICORP KLK SIME UMCCA PROPERTY GLOMAC HUAYANG IOIPG MAHSING SPSETIA SUNWAY REIT SUNREIT CMMT POWER & UTILITIES MALAKOF PETDAG PETGAS MAXIS TM TECHNOLOGY Semiconductor & Electronics IRIS (0.0) INARI (1.1) MPI UNISEM TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WSPRT 31-Mar (A) (B) Prv. Chg Cur. Chg (0.0) (0.1) (0.0) 0.0 (0.0) (1.8) (0.1) (4.0) (0.0) (1.1) 0.0 (0.0) (0.0) (0.0) 0.0 0.0 2.0 0.3 (0.0) (2.5) 0.0 0.0 0.3 0.0 0.0 0.0 0.2 0.0 0.1 0.0 (0.1) 0.0 0.1 0.0 (1.2) 0.1 1.3 0.2 (0.2) (0.1) (0.8) (8.0) 2.6 (1.2) (21.2) 37.0 1.3 (7.4) 15.0 (0.5) (0.1) (16.2) (0.0) (0.1) (0.0) 0.0 0.0 (0.0) 0.8 (0.0) (0.0) 1.8 0.0 0.0 1.2 0.0 (0.0) (0.4) (0.0) 0.1 0.2 1.8 (0.0) 1.6 (0.1) (1.7) 0.1 0.2 (0.2) 0.2 (0.1) (0.4) (0.1) 0.0 (0.1) (0.0) 0.1 (0.2) (0.1) (1.1) 0.0 0.4 (2.7) (1.1) (8.7) (1.1) (2.2) (2.5) 0.2 1.5 0.6 (0.1) (28.5) 0.0 (7.4) 0.8 12.6 (0.6) (1.1) 4.6 (8.6) 7.3 10.1 6.4 (9.7) 1.4 (0.3) 0.1 (0.5) (5.3) (0.4) (0.7) 0.0 2.9 0.0 0.0 0.0 (1.8) 0.1 (1.5) (0.0) 0.8 0.4 0.1 0.5 (0.2) 0.3 (0.2) 0.5 0.3 0.0 (2.6) (4.9) (0.7) (5.1) 1.7 (1.9) 1.9 2.4 (4.0) (13.4) (0.2) 0.0 0.2 0.1 0.4 0.0 0.0 0.0 0.4 0.1 0.2 Total 5D MF (A) (B) 31-Mar Prv. Chg Cur. Chg Total Money Flow (S$' mn) Name Total 5D MF 29-Mar 30-Mar 28-Mar 29-Mar 30-Mar 0.68 0.96 0.68 0.95 0.68 0.95 0.67 0.96 7.37 0.57 7.58 7.40 0.56 7.60 7.34 0.56 7.62 7.32 0.56 7.70 1.86 0.62 1.87 0.62 0.00 0.62 0.00 0.62 1.82 1.81 1.81 1.80 2.03 2.05 2.05 2.09 3.16 4.70 3.15 4.71 3.15 4.65 3.22 4.65 24.70 9.45 6.06 24.78 9.39 6.10 24.78 9.40 6.27 24.68 9.28 6.46 0.72 1.12 0.73 1.13 0.72 1.13 0.72 1.10 2.04 1.49 2.04 1.48 2.06 1.47 2.07 1.45 3.45 3.25 3.56 3.25 3.55 3.25 3.55 3.25 1.71 1.67 1.72 1.67 1.72 1.66 1.72 1.63 1.18 23.78 1.19 24.84 1.21 23.90 1.21 24.00 19.72 13.70 1.51 19.96 13.74 1.52 19.80 13.74 1.53 19.76 13.72 1.52 31-Mar Chg 0.67 0.00 0.96 7.32 0.00 0.00 0.56 7.70 0.00 0.00 0.00 0.00 0.62 1.80 0.00 0.00 2.09 3.22 0.00 0.00 4.65 24.68 9.28 0.00 0.00 0.00 6.46 0.00 0.72 1.10 2.07 0.00 0.00 0.00 1.45 3.55 0.00 0.00 3.25 0.00 1.72 0.00 1.63 0.00 1.21 0.00 24.00 19.76 0.00 0.00 13.72 1.52 0.00 0.00 5.06 5.13 0.00 0.00 6.44 6.42 0.00 0.00 0.15 2.04 0.00 0.00 0.00 0.00 (A+B) DMF OUT OUT OUT OUT OUT OUT IN IN IN IN IN OUT OUT IN IN IN IN OUT OUT OUT OUT OUT IN OUT OUT IN IN IN 4.98 5.05 5.13 5.06 5.15 6.42 6.38 5.17 6.44 6.41 5.16 6.44 6.41 5.13 6.44 6.42 0.14 2.06 11.80 0.14 2.09 11.98 0.14 2.03 11.80 0.15 2.04 11.50 3.23 3.21 3.15 3.14 11.50 3.14 2.95 7.03 3.06 7.00 3.07 7.16 3.14 6.95 3.14 0.00 1.1 6.95 0.00 IN IN (0.0) (0.4) 1.72 3.94 1.69 4.08 1.69 4.07 1.70 4.05 1.70 4.05 0.00 0.00 IN OUT FSSTI BANKS & FINANCIAL SERVICES DBS 0.5 CLOSING PRICE 27-Mar (0.7) (1.2) (0.4) (2.9) 0.4 1.9 (2.9) (2.2) 1.1 (0.1) (2.3) 2.0 1.2 (1.0) (1.8) OCBC UOB PLANTATIONS 0.1 0.3 0.4 (1.4) 1.5 2.2 (0.2) (1.5) WILMAR IFAR (0.8) (0.7) (0.8) (0.1) 0.0 (0.1) (0.0) (0.0) (0.3) (0.0) (2.7) (0.1) 0.7 (0.0) (0.2) (0.0) CLOSING PRICE 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar Chg IN OUT IN IN OUT IN IN (A+B) DMF 3,126.9 3,157.8 3,184.6 3,173.2 3,175.1 1.87 18.70 9.57 21.76 19.02 9.62 21.87 19.29 9.72 22.00 19.40 9.72 22.11 19.40 0.00 9.72 22.11 0.00 0.00 OUT IN IN 3.49 3.52 3.58 3.53 0.52 0.52 0.52 0.52 3.53 0.52 0.00 0.00 OUT 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
39. Technical View TA Securities Monday , April 03, 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 27-Mar (6.7) 28-Mar 6.1 29-Mar (2.3) 30-Mar (7.9) 31-Mar (8.2) BKAWAN BLDPLNT 0.0 (0.0) (0.0) 0.0 (0.0) (0.0) (0.3) 0.0 (0.1) CEPAT CHINTEK DUTALND (0.0) 0.0 0.0 0.0 0.0 0.1 (0.1) 0.1 0.0 0.0 0.0 0.0 0.0 (0.0) 0.0 (0.0) (0.9) (0.3) (0.0) 0.3 0.1 0.0 (1.0) 0.8 (0.0) 0.3 0.4 0.0 (0.0) (0.1) (0.0) 0.1 (0.0) 0.1 0.0 0.0 0.0 (0.0) 0.0 (0.9) 0.0 FAREAST FGV GENP GLBHD GOPENG HSPLANT HARNLEN IJMPLNT INCKEN IOICORP KMLOONG KLUANG KRETAM KLK KULIM KWANTAS MHC NSOP PINEPAC PLS RSAWIT RVIEW SOP SWKPLNT SBAGAN TDM THPLANT TSH UNICO UMCCA UTDPLT stsoo@ta.com.my (A) Total 5D MF Prv. Chg (18.9) (5.6) (B) Cur. Chg (0.3) www.taonline.com.my CLOSING PRICE 27-Mar 8,191.6 28-Mar 8,208.4 29-Mar 8,193.8 30-Mar 8,212.2 31-Mar 8,202.5 (A+B) DMF Chg (9.71) OUT (0.3) (0.0) (0.2) 0.0 0.2 0.0 19.50 8.53 19.60 8.65 19.66 8.53 19.38 8.53 19.38 8.53 (0.0) (0.0) (0.1) 0.2 0.0 (0.1) (0.0) 0.0 0.1 (0.1) (0.1) 0.86 8.00 0.86 8.10 0.86 8.12 0.86 8.12 (0.0) 0.1 (0.0) (1.2) (0.0) 1.3 0.0 (0.2) 0.46 8.90 0.47 8.90 0.47 8.55 0.49 9.00 0.86 8.12 0.49 0.00 OUT 0.00 IN 0.00 OUT 0.00 OUT 0.00 OUT (0.3) 0.0 0.0 (0.0) 2.05 11.66 0.63 2.09 11.68 0.64 0.00 0.00 1.5 0.0 2.05 11.70 0.63 9.00 2.09 0.5 0.0 2.03 11.64 0.63 (0.0) (0.6) (0.0) (0.1) 1.28 2.62 1.24 2.59 0.0 0.0 0.0 0.5 0.0 1.28 2.61 0.0 0.1 (0.0) (0.6) 0.0 1.28 2.61 0.0 (0.0) (0.0) (0.5) 0.1 0.86 3.15 0.84 3.22 (0.0) (0.3) 0.1 (0.0) (0.8) (0.1) (0.0) 0.86 3.15 (0.0) (1.6) 0.0 0.2 (0.0) 0.86 3.16 (0.0) 2.4 0.1 0.1 (0.0) (1.2) 0.2 1.3 0.1 (0.5) 0.0 0.70 4.70 3.71 0.70 4.71 3.78 0.70 4.65 3.77 0.69 4.65 3.74 0.0 (0.1) 0.0 (0.1) 0.0 0.0 0.0 (0.0) 3.48 0.63 (7.9) 0.0 (0.0) (0.0) (0.1) 3.30 0.60 (0.5) 0.0 (0.0) (0.0) (7.4) 3.30 0.58 (0.4) 0.0 0.0 (0.4) (21.2) 3.30 0.59 (4.5) 0.0 (0.1) (8.0) 24.68 0.00 0.0 0.0 0.0 (0.0) 24.78 0.00 0.0 0.0 0.0 0.0 24.78 0.00 0.0 (0.0) 0.0 0.0 24.70 0.00 0.0 0.0 0.0 0.0 0.0 1.47 0.90 0.0 0.0 (0.0) 0.0 0.0 (0.0) 0.0 0.0 (0.0) (0.0) (0.0) 1.47 0.89 0.0 (0.0) (0.0) 0.0 (0.0) 1.47 0.86 0.0 0.0 0.0 0.0 0.1 1.46 0.87 0.0 0.0 0.0 (0.0) 0.0 0.0 4.10 0.27 1.10 4.10 0.27 1.08 4.15 0.27 1.08 4.25 0.28 1.07 (0.0) 0.0 0.1 (0.0) 0.0 (0.0) 0.0 (0.0) 0.0 (0.0) 0.50 3.90 0.50 3.90 0.0 (0.0) 0.1 (0.0) 0.0 0.0 0.0 (0.0) (0.0) 0.50 3.90 0.0 0.0 (0.0) 0.0 0.0 0.50 4.00 0.0 0.0 0.1 (0.0) 0.1 3.61 1.70 3.64 1.69 (0.0) (0.0) 0.0 0.1 0.0 (0.0) 0.1 0.0 0.0 0.0 3.62 1.71 0.0 (0.0) 0.0 0.0 0.1 3.66 1.72 0.0 0.0 0.0 (0.0) 0.2 0.1 (0.0) 0.1 (0.0) 0.0 0.0 3.06 0.67 1.18 3.08 0.67 1.19 3.08 0.68 1.19 3.08 0.67 1.18 (0.0) 0.0 0.2 0.0 0.0 0.0 0.0 0.0 (0.0) 0.0 1.88 0.00 1.87 0.00 (0.1) 0.0 (0.1) (0.0) (0.0) (0.0) (0.1) 0.0 0.0 1.84 0.00 0.0 3.3 0.0 0.0 (0.0) 1.84 0.00 0.0 0.0 0.3 0.0 (0.1) 3.4 (0.0) (0.0) 6.06 28.58 6.10 28.00 6.27 28.50 6.46 28.50 0.0 (0.0) 0.1 0.0 0.0 Sources: Bloomberg, TA Securities Page 1 of 4 11.68 0.64 1.24 2.59 0.84 3.22 0.69 4.65 3.74 3.48 0.63 24.68 0.00 1.47 0.90 4.25 0.28 1.07 IN IN 0.00 OUT 0.00 IN 0.00 OUT 0.00 OUT 0.00 IN 0.00 IN 0.00 OUT 0.00 IN 0.00 IN 0.00 OUT 0.00 OUT 0.00 OUT 0.00 OUT 0.00 OUT 0.00 OUT 0.00 OUT 0.50 3.90 3.64 0.00 IN 0.00 OUT 0.00 OUT 0.00 OUT 0.00 IN 1.69 3.08 0.00 0.00 0.67 1.18 0.00 0.00 1.87 0.00 6.46 0.00 OUT 0.00 OUT 0.00 IN 0.00 OUT 28.50 IN IN IN IN
40. 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 27-Mar Tel: +603-2167 9607 Total Money Flow (RM' mn) 28-Mar 29-Mar 30-Mar stsoo@ta.com.my 31-Mar Total 5D MF (A) Prv. Chg (B) Cur. Chg 27-Mar 28-Mar www.taonline.com.my CLOSING PRICE 29-Mar 30-Mar 31-Mar Chg KL CONSTR (1.0) 0.6 15.9 0.5 0.4 16.3 (15.4) (0.1) 321.7 323.5 325.3 327.7 323.2 AZRB BENALEC BDB BPURI BREM CRESBLD DKLS (0.0) (0.1) 0.1 0.2 0.1 (0.0) 0.1 (0.2) (0.1) (0.0) 0.1 (0.1) 1.00 0.55 0.76 0.0 (0.1) (0.0) 0.0 0.3 (0.0) (0.1) 0.0 0.1 0.0 0.1 (0.1) 0.0 0.0 0.0 0.92 0.54 0.78 0.0 (0.0) 0.0 (0.0) (0.2) (0.1) 0.0 0.1 (0.1) 0.2 (0.0) (0.0) (0.0) (0.0) 0.0 0.92 0.54 0.77 0.0 (0.0) 0.0 0.0 (0.1) 0.0 (0.0) (0.2) 0.3 0.1 (0.2) (0.1) (0.1) (0.0) 0.0 0.92 0.52 0.81 (0.1) (0.0) (0.0) 0.0 (0.1) 0.0 (0.1) (0.0) 0.1 0.1 (0.0) (0.0) (0.0) (0.0) 0.0 (0.0) 18.3 0.0 0.1 (1.5) (0.0) 0.2 0.0 0.0 0.0 1.2 (0.1) (0.0) (1.5) (0.0) 0.0 0.1 0.0 (0.3) (0.0) 0.0 (0.0) (0.1) (0.9) 0.0 0.0 0.44 0.88 0.95 1.88 1.43 0.69 0.74 1.29 (0.1) 2.1 (0.0) (0.0) (0.5) (0.0) 0.1 0.0 0.0 0.5 0.1 (0.1) (0.0) 0.0 (17.1) (0.1) (0.1) 0.44 0.89 0.94 1.85 1.43 0.69 0.73 1.23 (0.3) (0.3) (0.1) 0.0 (0.3) (0.0) 0.0 (0.0) 0.0 (0.1) (0.1) (0.1) (0.2) (0.4) 21.7 (0.2) 0.0 0.44 0.89 0.94 1.88 1.40 0.67 0.72 1.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 (0.0) (0.0) 0.0 (0.1) 0.4 (0.0) (0.0) 0.44 0.89 0.93 1.91 1.34 0.66 0.72 1.29 1.00 0.55 0.76 0.44 0.88 0.95 1.88 0.1 (0.7) 0.0 0.0 (0.0) (0.0) 0.0 0.0 (0.0) 0.8 0.0 0.0 (0.0) 0.0 0.2 (0.2) 0.9 0.0 0.1 (0.1) 0.0 (0.0) (0.5) (0.0) (0.0) 1.25 5.18 0.78 1.69 3.40 0.66 1.48 2.24 0.00 (0.0) (0.9) (0.0) 0.0 0.0 0.0 0.0 0.1 (0.0) (0.0) (0.2) 0.1 0.0 (0.1) 1.5 0.0 0.0 1.25 5.33 0.79 1.69 3.50 0.66 1.47 2.21 0.00 0.0 0.7 (0.0) 0.0 0.0 (0.0) 0.1 0.0 (4.4) (0.0) 0.5 0.2 0.0 0.0 0.1 (0.0) 0.0 1.26 5.25 0.78 1.67 3.51 0.67 1.46 2.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.6) (0.0) 0.1 0.1 0.0 (0.0) 0.3 0.0 (0.0) 1.27 5.19 0.78 1.68 3.50 0.67 1.48 2.20 0.00 1.43 0.69 0.74 1.29 1.25 5.18 0.78 1.69 0.0 0.0 0.0 (0.0) 0.0 0.0 (0.0) (0.0) 0.2 (0.0) 0.0 0.0 (0.0) (0.0) (0.2) (0.0) 0.0 0.0 (0.1) 0.1 (0.0) (0.0) (0.0) (0.0) 0.40 1.70 0.87 0.32 1.34 0.37 0.99 2.71 (0.0) 0.0 0.0 0.0 (0.0) 0.0 (0.0) 0.0 0.0 0.0 0.2 (0.2) 0.2 (0.0) 0.0 0.0 0.41 1.64 0.86 0.33 1.35 0.38 0.98 2.62 0.0 (0.0) 0.0 (0.0) (0.2) 0.0 (0.3) (0.0) (0.0) 0.0 0.3 (0.1) 0.3 (0.0) 0.0 (0.0) 0.39 1.64 0.86 0.34 1.33 0.38 0.97 2.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 0.0 0.1 (0.1) 0.1 (0.0) 0.0 (0.0) 0.39 1.66 0.86 0.34 1.32 0.37 0.97 2.65 3.40 0.66 1.48 2.24 0.00 0.40 1.70 0.87 0.32 (0.0) (0.1) (0.0) (0.0) (0.0) 0.0 0.0 (0.3) 0.0 0.1 0.1 0.0 0.0 0.2 (0.0) 0.2 0.68 3.52 1.49 0.19 1.10 0.37 0.57 1.75 (0.0) (0.1) 0.0 (0.0) (0.1) (0.1) (0.1) 0.0 0.0 0.1 0.0 (0.2) 0.66 3.56 1.49 0.20 1.11 0.37 0.56 1.77 0.0 (0.1) (0.0) (0.0) (0.1) 0.1 (0.5) 0.0 (0.1) (0.1) (0.0) (0.4) 0.66 3.51 1.47 0.18 1.10 0.36 0.57 1.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 0.1 (0.1) (0.0) 0.0 0.2 0.0 (0.1) 0.67 3.53 1.45 0.18 1.11 0.36 0.58 1.74 1.34 0.37 0.99 2.71 0.68 3.52 1.49 0.19 0.64 1.87 0.58 0.15 0.64 1.85 0.58 0.15 0.69 1.84 0.58 0.17 0.72 1.93 0.58 0.18 1.10 0.37 0.57 1.75 0.72 1.93 0.58 0.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 EKOVEST SENDAI FAJAR GBGAQRS GADANG GAMUDA HOHUP HSL IJM IREKA JAKS KIMLUN KEURO JETSON MRCB MELATI MERGE MITRA MTDACPI MUDAJYA MUHIBAH PESONA PTARAS PLB PSIPTEK PRTASCO SYCAL TRC TRIPLC TSRCAP WCT ZECON ZELAN Sources: Bloomberg, TA Securities Page 2 of 4 (A+B) DMF (4.47) OUT OUT IN IN OUT OUT OUT IN IN IN OUT OUT OUT OUT OUT OUT IN IN OUT IN OUT OUT IN OUT OUT IN IN IN OUT IN OUT OUT IN OUT IN OUT IN IN IN IN OUT
41. 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) 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar Total 5D MF stsoo@ta.com.my (A) (B) Prv. Chg Cur. Chg www.taonline.com.my CLOSING PRICE 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar Chg (A+B) DMF KL PROP (2.1) (0.9) 2.3 2.0 (0.5) 0.8 (0.4) (2.5) 1,280.8 1,290.9 1,295.8 1,297.8 1,304.0 6.26 OUT A&M AMPROP 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 1.40 0.84 1.39 0.84 1.38 0.84 1.38 0.84 1.38 0.84 0.00 0.00 OUT OUT ASIAPAC BCB BJASSET (0.0) (0.0) (0.0) (0.0) (0.0) 0.0 0.1 (0.0) 0.19 0.49 0.1 0.0 0.0 0.0 (0.0) (0.1) 0.0 0.0 0.93 0.55 0.1 0.0 0.0 (0.0) (0.0) 0.90 0.55 0.0 (0.0) 0.0 (0.0) 0.1 0.90 0.55 0.00 0.00 0.00 (0.0) 0.0 0.88 0.55 0.19 0.49 0.93 IN OUT 0.0 (0.0) (0.1) 0.0 (0.0) 0.20 0.49 (0.0) 0.0 0.1 (0.0) 0.0 0.19 0.48 (0.0) 0.0 (0.0) (0.0) (0.1) 0.19 0.48 0.0 0.0 0.0 0.0 (0.0) (0.0) (0.2) (0.0) (0.1) 0.0 0.0 1.38 1.72 1.60 1.38 1.72 1.62 1.35 1.71 1.71 0.00 0.00 (0.0) (0.1) 1.30 1.66 1.60 0.55 1.35 1.71 1.71 0.00 0.00 (0.0) 0.0 (0.0) 0.0 0.0 (0.0) (0.0) 0.2 2.27 0.86 0.1 0.3 (0.0) (0.0) (0.1) 2.25 0.82 (0.0) 1.0 (0.0) 0.2 0.1 2.21 0.81 0.1 0.0 (0.1) 0.3 0.1 2.29 0.80 (0.0) 0.0 (0.0) 0.1 (0.0) (0.0) (0.0) (0.0) (0.0) 0.0 0.0 (1.0) 0.0 1.00 1.93 (0.0) (0.1) 0.0 (0.7) (0.0) 1.02 2.12 (0.0) 0.1 (0.0) 0.7 (0.1) 1.04 1.96 0.00 0.00 0.00 (0.7) 0.0 1.00 1.96 2.27 0.86 1.00 0.0 (0.1) 0.0 (0.1) (0.1) 0.0 0.0 0.84 0.97 0.55 0.0 0.0 0.1 0.0 0.0 0.83 0.94 0.55 0.0 0.0 0.1 (0.0) 0.0 0.83 0.95 0.54 0.00 0.00 (0.0) 0.0 0.0 0.83 0.96 0.53 1.93 0.84 (0.0) 0.0 0.0 0.0 (0.0) (0.0) 0.1 0.0 0.00 0.45 (0.0) (0.0) 0.0 (0.1) 0.0 0.00 0.45 (0.0) (0.0) (0.0) (0.2) (0.0) 0.00 0.43 0.00 0.00 0.00 (0.0) 0.0 0.00 0.42 0.97 0.55 0.00 0.0 (0.0) (0.0) (0.0) 0.0 (0.0) 0.73 0.45 1.38 0.72 0.47 1.41 0.72 0.46 1.40 0.00 0.00 (0.0) (0.0) 0.72 0.44 1.38 0.45 0.72 0.46 1.40 0.00 0.00 0.0 0.0 (0.0) 0.0 (0.0) 0.0 0.0 0.0 1.10 0.00 0.0 (0.0) (0.0) 0.0 0.0 1.13 0.00 0.0 0.0 0.0 0.0 0.0 1.13 0.00 (0.0) (0.0) (0.0) 0.0 0.1 1.12 0.00 (0.0) 0.0 (0.0) 0.0 0.1 0.2 (0.1) (0.0) 0.1 0.0 (0.0) 0.0 (0.0) 0.61 0.95 0.0 (0.0) (0.0) (0.0) (0.0) 0.61 0.96 0.4 (0.1) (0.0) (0.0) 0.8 0.60 0.95 0.00 0.00 0.00 0.0 0.1 0.60 0.96 1.10 0.00 0.61 (0.1) (0.0) 0.1 0.0 (0.0) (0.0) 2.93 0.56 0.08 2.94 0.56 0.07 2.95 0.57 0.07 0.00 0.00 0.0 (0.0) 2.92 0.57 0.07 0.95 2.95 0.57 0.07 0.00 0.00 0.0 0.0 (0.0) (0.0) 0.0 0.0 0.0 (0.1) 0.11 0.93 (0.4) 0.0 0.0 0.1 0.2 0.12 0.93 0.3 0.1 0.0 (0.1) (0.8) 0.12 0.91 0.1 0.1 0.1 (0.1) (0.3) 0.12 0.94 0.0 (0.1) 0.1 (0.0) (0.2) 0.0 0.0 (0.1) 0.1 0.0 (0.0) (0.1) (0.1) 7.93 1.27 (0.0) 0.0 0.2 (0.1) 0.1 7.99 1.24 (0.0) 0.0 (0.2) 0.1 0.1 7.99 1.21 0.00 0.00 0.00 (0.1) 0.0 7.91 1.22 0.11 0.93 7.93 0.1 (0.2) (0.0) 0.0 (0.0) (0.1) 0.33 1.25 2.00 0.33 1.29 1.99 0.33 1.27 2.03 0.00 0.00 (0.0) (0.1) 0.33 1.21 1.95 1.27 0.33 1.27 2.03 0.00 0.00 (0.0) (0.1) (0.0) (0.0) 0.0 (0.0) 0.0 0.0 0.28 1.53 0.0 0.0 (0.0) (0.0) (0.1) (0.1) 0.28 1.52 0.1 (0.0) (0.0) 0.0 0.0 (0.0) 0.26 1.54 0.1 (0.0) (0.0) 0.0 (0.1) 0.2 0.27 1.55 0.1 (0.0) (0.0) 0.0 (0.0) (0.0) 0.0 (0.0) 0.0 0.0 (0.0) 0.0 1.48 0.32 0.17 1.47 0.32 0.17 1.45 0.36 0.16 0.00 0.00 0.00 0.0 0.0 1.49 0.33 0.17 0.28 1.53 1.45 0.36 0.16 0.00 0.00 0.0 0.0 (0.0) (0.0) (0.0) 0.0 (0.7) (0.0) 1.36 0.47 (0.0) (0.0) 0.3 0.0 0.0 1.25 0.47 0.0 (0.1) (0.7) (0.0) (0.1) 1.23 0.47 (0.0) 0.1 (1.3) 0.0 0.1 1.22 0.47 0.0 (0.1) (0.5) 0.0 0.0 (0.0) (0.0) 0.0 0.2 0.0 (0.0) 0.0 (0.1) 0.81 0.35 0.2 0.0 0.0 0.1 0.2 0.81 0.35 0.1 0.0 (0.0) (0.2) 0.5 0.81 0.34 0.00 0.00 0.00 (0.0) 0.1 0.81 0.34 1.36 0.47 0.81 0.1 0.0 0.0 (0.0) 0.0 0.0 3.08 0.32 0.29 3.06 0.31 0.29 3.06 0.32 0.28 0.00 0.00 0.0 0.0 3.08 0.32 0.26 0.35 3.06 0.32 0.28 0.00 0.00 (0.0) (0.9) (0.0) 0.0 0.0 0.1 0.0 0.2 1.52 1.58 0.0 (0.0) (0.0) (0.2) 0.1 1.52 1.61 (0.0) 0.1 (0.0) 0.2 0.0 1.51 1.60 (0.0) 0.0 0.0 (0.5) 0.0 1.51 1.59 (0.0) 0.0 0.0 0.1 0.1 0.1 (0.1) 0.0 1.75 0.60 1.75 0.60 1.74 0.60 0.00 0.00 0.00 0.0 1.77 0.60 1.52 1.58 1.74 0.60 0.00 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 IN OUT OUT OUT OUT OUT IN IN OUT IN IN IN OUT IN IN OUT OUT IN OUT IN OUT OUT IN OUT IN OUT OUT OUT IN OUT OUT IN OUT OUT IN IN OUT OUT OUT IN IN IN OUT OUT OUT IN OUT
42. TA Securities A Member of the TA Group Name ENRA PTGTIN PJDEV PLENITU SAPRES SBCCORP SDRED SPB SNTORIA SHL SMI SPSETIA SUNWAY SYMLIFE TAGB TAHPS TAMBUN TANCO TALAMT UEMS UOADEV WINGTM Y &G YNHPROP YTLLAND 27-Mar Total Money Flow (RM' mn) 28-Mar 29-Mar 30-Mar (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) 0.1 (0.0) 0.0 (0.0) 0.1 0.0 (0.0) 0.0 0.0 (0.0) 0.1 0.5 0.1 0.0 (0.1) 0.0 0.0 (0.1) 0.0 (0.0) (0.8) 0.2 (0.0) (0.0) (0.0) 0.1 0.0 0.0 0.0 0.2 0.1 0.0 0.1 0.1 (0.0) 0.1 (0.0) (0.0) 1.8 (0.1) 0.0 0.1 (0.0) 0.0 0.0 0.0 (0.2) (1.7) 0.0 0.0 (0.1) 0.0 0.0 (0.0) (0.1) 0.0 (0.3) (0.4) 0.0 0.0 (0.0) (0.0) 0.0 0.1 (0.1) (0.0) 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.2 (0.1) 0.0 0.0 0.1 0.0 0.0 0.0 (0.0) 31-Mar (A) Total 5D MF Prv. Chg (B) Cur. Chg 0.1 (0.0) 0.0 (0.0) 0.0 0.0 0.0 (0.1) 0.2 (0.0) 0.0 0.0 0.1 (0.0) 0.1 0.1 0.1 (0.0) 0.0 (0.1) 0.1 0.0 0.1 (0.1) (0.0) 0.0 0.0 (0.0) (0.0) 0.0 (0.0) (0.0) 0.1 (0.0) (0.0) 0.1 0.1 0.0 0.0 0.0 0.1 (0.0) 0.2 (0.0) 0.0 1.8 0.2 0.0 0.1 0.0 0.4 (0.2) 0.1 (0.0) (0.0) 1.6 (0.2) (0.0) 0.0 0.0 0.1 0.1 0.0 (0.0) (0.0) (1.7) 0.2 0.0 (0.0) 0.0 (0.1) 0.1 (0.0) (0.1) 0.3 0.0 0.0 0.0 (0.0) 0.0 (0.3) (1.7) 0.0 0.0 (0.1) (0.0) 0.0 (0.2) 0.1 (0.0) 0.0 0.0 (0.0) (0.0) (0.1) 0.2 0.0 (0.0) 0.0 0.0 27-Mar 28-Mar CLOSING PRICE 29-Mar 30-Mar 2.72 0.33 0.00 1.58 1.13 0.74 2.75 0.32 0.00 1.57 1.12 0.74 2.74 0.34 0.00 1.59 1.11 0.75 2.83 0.33 0.00 1.65 1.12 0.74 0.87 4.62 0.75 2.84 0.20 3.45 3.25 0.86 0.37 0.88 4.64 0.72 2.84 0.20 3.56 3.25 0.85 0.37 0.88 4.66 0.73 2.85 0.20 3.55 3.25 0.86 0.37 0.95 4.60 0.76 2.84 0.20 3.55 3.25 0.87 0.37 6.60 1.44 0.10 0.05 1.25 2.55 1.07 1.02 1.53 0.67 6.85 1.44 0.11 0.05 1.28 2.64 1.07 1.05 1.52 0.65 6.85 1.48 0.11 0.05 1.28 2.61 1.07 1.05 1.51 0.64 6.85 1.48 0.10 0.05 1.27 2.70 1.06 1.10 1.51 0.65 31-Mar Chg 2.83 0.33 0.00 1.65 1.12 0.74 0.95 4.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.76 2.84 0.20 3.55 3.25 0.87 0.37 6.85 1.48 0.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 1.27 2.70 1.06 1.10 1.51 0.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (A+B) DMF IN OUT OUT OUT IN IN IN OUT IN OUT OUT OUT OUT OUT OUT IN IN IN OUT OUT IN OUT 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. 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
43. TA Securities T e c h n i c a l V i e w Monday , April 03, 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 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 Operating Margin Return on Revenue Net Income Current Price to Book EPS (RM) PE Ratio (%) (%) Assets (%) (RMmn) (RMmn) Market Closing Volume Cap Price (RM) (million) 3Q16 4Q16 3Q16 4Q16 2015 2016 3Q16 4Q16 3Q16 4Q16 3Q16 4Q16 2015 2016 (RMmn) 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 0.05 0.09 0.06 0.19 0.15 0.25 0.05 0.25 0.10 0.19 0.85 0.05 0.08 0.03 0.06 0.10 0.71 0.04 0.10 0.16 0.11 0.29 0.28 0.62 0.29 0.17 0.36 0.25 0.06 0.35 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 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 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
44. TA Securities A Member of the TA Group Support & Resistance 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 Call RSI SOS 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 71.62 59.16 63.16 42.96 60.57 67.48 56.18 65.52 63.45 61.39 50.57 46.22 75.91 50.71 44.90 48.16 59.86 57.95 57.24 49.81 72.01 61.21 86.28 52.44 59.21 53.33 56.13 68.58 57.09 53.05 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 Volume (mn Shares) today 5d-avg 20d-avg 0.620 3.793 5.640 5.103 22.823 14.113 3.732 23.560 15.952 6.905 18.935 17.073 11.631 6.885 15.401 3.189 0.425 1.019 6.344 19.957 22.984 0.560 1.996 3.349 17.028 6.152 2.803 6.873 15.809 5.004 0.034 0.027 0.040 0.532 1.316 10.011 14.541 3.556 4.224 4.748 1.162 4.143 6.249 4.004 4.557 1.637 26.222 16.447 7.640 6.741 4.387 9.679 0.433 0.832 9.935 1.865 2.581 7.553 17.745 24.103 1.080 5.139 1.955 1.720 2.669 1.505 6.352 10.774 8.303 0.126 0.233 0.140 1.992 7.419 6.706 1.539 1.940 0.934 0.177 0.050 0.119 1.456 5.901 9.310 0.500 5.852 6.503 0.594 1.408 2.363 Stochastics %K %D 100.0 77.8 60.0 53.3 100.0 77.8 16.7 5.6 60.0 26.7 85.7 45.2 50.0 50.0 44.4 55.6 80.0 75.6 57.1 63.1 55.6 55.6 50.0 83.3 100.0 100.0 50.0 83.3 33.3 33.3 0.0 44.4 73.7 56.1 50.0 50.0 66.7 55.6 50.0 16.7 100.0 83.3 62.5 73.4 88.9 89.0 88.9 81.5 44.4 42.6 50.0 58.3 100.0 75.0 42.9 53.2 33.3 44.4 14.3 9.5 Sources: Bloomberg, TA Securities 31 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 31-Mar R1 R2 R3 Ratio DGB 0.01 0.02 0.03 0.050 0.06 0.07 0.08 0.50 SANICHI [S] 0.03 0.04 0.05 0.085 0.10 0.11 0.12 0.43 NEXGRAM [S] 0.01 0.02 0.03 0.055 0.06 0.07 0.08 0.20 STERPRO [S] 0.14 0.16 0.18 0.190 0.21 0.24 0.27 2.00 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 0.250 0.26 0.31 0.36 0.33 AT [S] 0.02 0.03 0.04 0.045 0.06 0.08 0.09 3.00 SCOPE [S] 0.18 0.20 0.22 0.250 0.27 0.30 0.33 0.67 INIX [S] 0.02 0.04 0.06 0.095 0.10 0.12 0.15 0.14 ASIAPLY [S] 0.10 0.13 0.15 0.190 0.20 0.23 0.25 0.25 GENETEC [S] 0.60 0.70 0.80 0.850 0.90 1.00 1.10 1.00 MMAG [S] 0.02 0.03 0.04 0.050 0.07 0.08 0.09 2.00 M3TECH [S] 0.03 0.04 0.05 0.075 0.08 0.09 0.10 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 0.055 0.08 0.09 0.10 5.00 XOX [S] 0.04 0.06 0.08 0.100 0.14 0.16 0.18 2.00 VIS [S] 0.48 0.54 0.60 0.705 0.78 0.85 0.90 0.71 SCBUILD 0.01 0.02 0.03 0.040 0.05 0.06 0.07 1.00 NOVAMSC [S] 0.02 0.04 0.06 0.095 0.10 0.12 0.14 0.14 VIVOCOM [S] 0.09 0.11 0.13 0.155 0.19 0.21 0.23 1.40 GOCEAN [S] 0.05 0.06 0.07 0.110 0.11 0.13 0.14 0.00 PLABS 0.20 0.21 0.23 0.285 0.29 0.33 0.38 0.09 CONNECT [S] 0.17 0.20 0.23 0.275 0.29 0.32 0.38 0.33 OPCOM [S] 0.45 0.50 0.55 0.615 0.65 0.70 0.76 0.54 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 0.360 0.38 0.40 0.45 0.50 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 0.055 0.07 0.08 0.10 1.00 AEMULUS 0.27 0.30 0.33 0.350 0.39 0.44 0.50 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
45. 3131 TA Securities T e c h n i c a l V i e w Monday , April 03, 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 0.15 0.19 0.09 0.71 0.10 0.87 0.64 0.24 0.19 0.19 0.26 0.28 0.18 0.26 0.31 0.38 0.07 0.26 0.45 0.16 0.53 0.39 0.20 2.06 1.22 3.48 1.40 0.41 0.52 1.21 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 (%) Operating Margin (%) 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 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 3Q16 4Q16 2015 2016 Net Income Growth (%) 2016 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 3Q16 4Q16 Net Income (RMmn) 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 -0.01 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 4Q16 Revenue (RMmn) 3Q16 4Q16 3Q16 4Q16 2015 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 3Q16 Return on Assets (%) 2015 2016 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
46. TA Securities A Member of the TA Group Support & Resistance 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 Name SL S2 S1 24-Mar R1 R2 R3 OLYMPIA 0.10 0.11 0.12 0.155 0.17 0.18 0.20 TRIVE [S] 0.10 0.12 0.14 0.195 0.23 0.25 0.28 XINQUAN 0.03 0.05 0.07 0.095 0.11 0.13 0.15 LIONIND [S] 0.60 0.66 0.72 0.825 0.98 1.10 1.22 TANCO [S] 0.06 0.07 0.08 0.110 0.12 0.13 0.14 TECNIC 0.68 0.77 0.85 0.905 1.02 1.13 1.30 GLBHD [S] 0.51 0.56 0.59 0.635 0.67 0.71 0.76 BINTAI 0.18 0.19 0.20 0.225 0.28 0.30 0.33 ASIAPAC [S] 0.08 0.10 0.12 0.175 0.18 0.20 0.22 AHB [S] 0.12 0.14 0.16 0.195 0.20 0.22 0.24 MULPHA 0.20 0.23 0.25 0.260 0.30 0.32 0.34 PINEPAC [S] 0.19 0.23 0.26 0.270 0.30 0.34 0.38 PWORTH [S] 0.13 0.15 0.17 0.185 0.22 0.24 0.26 EASTLND [S] 0.15 0.17 0.20 0.230 0.26 0.30 0.34 MELEWAR [S] 0.22 0.24 0.26 0.320 0.34 0.39 0.42 BJCORP 0.31 0.33 0.35 0.380 0.40 0.42 0.44 PERISAI [S] 0.02 0.04 0.06 0.065 0.08 0.10 0.12 SANBUMI [S] 0.11 0.13 0.15 0.185 0.20 0.22 0.24 ANCOM 0.36 0.38 0.40 0.450 0.48 0.52 0.56 MPCORP 0.08 0.10 0.12 0.160 0.19 0.22 0.25 LIONFIB [S] 0.45 0.49 0.54 0.560 0.62 0.66 0.70 KAMDAR 0.22 0.26 0.30 0.385 0.44 0.52 0.60 TURIYA [S] 0.12 0.14 0.16 0.205 0.21 0.23 0.25 PRKCORP [S] 1.60 1.80 1.90 2.050 2.28 2.48 2.67 ATTA [S] 0.90 1.00 1.10 1.180 1.28 1.38 1.48 KLUANG 2.51 2.79 3.02 3.220 3.54 3.70 4.00 DRBHCOM [S] 1.08 1.18 1.27 1.360 1.58 1.77 1.90 SCOMIEN 0.28 0.33 0.38 0.405 0.48 0.53 0.62 CHUAN [S] 0.45 0.48 0.50 0.545 0.61 0.66 0.72 KUCHAI 1.05 1.10 1.15 1.200 1.30 1.36 1.43 Reward Ratio 0.43 0.64 0.60 1.48 0.33 2.09 0.78 2.20 0.09 0.14 4.00 3.00 2.33 1.00 0.33 0.67 3.00 0.43 0.60 0.75 3.00 0.65 0.11 1.53 1.25 1.60 2.44 3.00 1.44 2.00 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 Call RSI SOS SELL SELL SELL SOS BOW BOW SOS BOW BOW BOW SELL SELL BOW SELL SELL BOW SOS SOS SOS SOS SOS SOS BOW SELL SOS BOW BOW SOS BOW 55.61 68.39 48.42 48.41 55.26 46.73 58.05 56.65 65.23 57.34 43.79 52.19 58.18 64.70 39.43 46.24 44.56 69.12 58.90 56.92 45.91 67.19 55.10 58.12 70.96 68.32 56.01 52.85 46.53 55.87 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 31 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 31-Mar R1 R2 R3 Ratio OLYMPIA 0.10 0.11 0.12 0.145 0.17 0.18 0.20 1.00 TRIVE [S] 0.10 0.12 0.14 0.190 0.23 0.25 0.28 0.80 XINQUAN 0.03 0.05 0.07 0.090 0.11 0.13 0.15 1.00 LIONIND [S] 0.54 0.60 0.66 0.705 0.80 0.98 1.10 2.11 TANCO [S] 0.06 0.07 0.08 0.100 0.12 0.13 0.14 1.00 TECNIC 0.68 0.77 0.85 0.870 1.02 1.13 1.30 7.50 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 0.240 0.28 0.30 0.33 1.00 ASIAPAC [S] 0.10 0.12 0.14 0.190 0.20 0.22 0.24 0.20 AHB [S] 0.12 0.14 0.16 0.190 0.20 0.22 0.24 0.33 MULPHA 0.20 0.23 0.25 0.255 0.30 0.32 0.34 9.00 PINEPAC [S] 0.19 0.23 0.26 0.280 0.30 0.34 0.38 1.00 PWORTH [S] 0.13 0.15 0.17 0.180 0.22 0.24 0.26 4.00 EASTLND [S] 0.15 0.17 0.20 0.255 0.26 0.30 0.34 0.09 MELEWAR [S] 0.22 0.24 0.26 0.305 0.34 0.39 0.42 0.78 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] 0.15 0.17 0.19 0.255 0.26 0.30 0.32 0.08 ANCOM 0.36 0.38 0.40 0.445 0.48 0.52 0.56 0.78 MPCORP 0.08 0.10 0.12 0.160 0.19 0.22 0.25 0.75 LIONFIB [S] 0.40 0.45 0.49 0.525 0.58 0.62 0.66 1.57 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 0.200 0.21 0.23 0.25 0.25 PRKCORP [S] 1.60 1.80 1.90 2.060 2.28 2.48 2.67 1.38 ATTA [S] 0.90 1.00 1.10 1.220 1.28 1.38 1.48 0.50 KLUANG 2.51 2.79 3.02 3.480 3.54 3.70 4.00 0.13 DRBHCOM [S] 1.08 1.18 1.27 1.400 1.58 1.77 1.90 1.38 SCOMIEN 0.28 0.33 0.38 0.410 0.48 0.53 0.62 2.33 CHUAN [S] 0.45 0.48 0.50 0.520 0.61 0.66 0.72 4.50 KUCHAI 1.05 1.10 1.15 1.210 1.30 1.36 1.43 1.50 Volume (mn Shares) today 5d-avg 20d-avg 41.100 41.396 38.980 38.858 63.666 34.570 0.165 2.025 3.438 2.567 10.589 11.881 8.922 8.569 13.553 0.471 0.650 1.266 0.084 0.128 0.135 0.930 2.899 1.188 1.279 6.043 2.916 3.667 0.450 0.314 1.105 2.611 6.674 0.098 0.059 0.077 13.620 20.574 72.784 0.697 0.476 0.211 0.152 0.498 0.618 17.914 10.736 17.606 1.132 9.181 6.406 4.894 11.960 3.485 0.377 0.311 0.511 0.002 0.040 0.091 0.010 0.098 0.237 0.045 0.009 0.006 0.060 0.079 0.171 0.006 0.010 0.019 0.076 0.133 0.208 0.001 0.002 0.003 3.366 6.627 6.729 0.070 0.131 0.297 0.113 0.097 0.311 0.006 0.012 0.022 Stochastics %K %D 13.3 26.5 68.8 71.6 20.0 20.0 23.1 18.8 37.5 49.5 30.0 17.7 83.3 72.2 33.3 27.8 71.4 72.0 50.0 50.0 14.3 13.1 50.0 27.8 14.3 8.9 63.6 64.5 10.0 20.0 20.0 31.7 33.3 33.3 55.6 68.2 50.0 41.7 41.7 49.8 5.6 13.0 100.0 87.5 25.0 34.3 20.0 22.4 56.3 64.4 100.0 100.0 50.0 38.9 28.6 38.1 9.1 13.0 60.0 60.0 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
47. T e c h n i c a l TA Securities V i e w Monday , April 03, 2017 FBM KLCI: 1,740.09 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 31.03.2017 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 OLYMPIA INDS BHD PALETTE MULTIMED NAIM INDAH CORP MY EG SERVICES LUSTER INDUSTRIE TIGER SYNERGY BH NOVA MSC BHD SCOMI GROUP BHD SC ESTATE BUILDE TANCO HLDGS BHD VIVOCOM INTERNAT AT SYSTEMATIZATI XIDELANG HOLDING APFT KNM GROUP BHD NETX HOLDINGS BH DIGI.COM BHD SUMATEC RESOURCE SANICHI TECHNOLO MNC WIRELESS BHD KRETAM HOLDINGS DIGISTAR CORP TECHNODEX BHD MINETECH RESOURC ENGTEX GROUP BHD NEXGRAM HOLDINGS AHB HOLDINGS BHD CUSCAPI BHD BIO OSMO BHD YFG BHD 0.15 0.08 0.11 1.85 0.12 0.05 0.10 0.19 0.04 0.10 0.16 0.05 0.04 0.05 0.30 0.03 5.13 0.08 0.09 0.07 0.63 0.21 0.17 0.14 1.28 0.06 0.19 0.26 0.08 0.07 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.08 0.14 0.07 0.10 1.85 0.11 0.05 0.09 0.18 0.04 0.09 0.16 0.05 0.03 0.05 0.30 0.02 5.13 0.07 0.08 0.06 0.62 0.20 0.16 0.13 1.27 0.05 0.18 0.25 0.08 0.06 0.19 0.08 0.12 1.94 0.13 0.05 0.10 0.20 0.04 0.12 0.16 0.06 0.04 0.05 0.31 0.03 5.19 0.08 0.09 0.07 0.68 0.22 0.17 0.16 1.31 0.06 0.20 0.30 0.10 0.07 55.61 58.81 54.99 56.55 59.75 55.88 57.24 52.32 57.95 55.26 49.81 56.18 53.62 54.83 43.44 50.71 54.45 50.64 59.16 50.77 56.34 59.08 56.67 60.06 53.39 63.16 57.34 54.02 53.04 61.43 0.16 0.07 0.11 1.88 0.12 0.05 0.09 0.19 0.04 0.11 0.16 0.05 0.04 0.05 0.30 0.03 5.14 0.07 0.08 0.07 0.61 0.20 0.16 0.14 1.28 0.05 0.19 0.27 0.09 0.06 0.13 0.07 0.10 1.79 0.10 0.05 0.09 0.18 0.04 0.09 0.16 0.04 0.03 0.05 0.31 0.02 5.10 0.07 0.08 0.06 0.60 0.19 0.16 0.12 1.27 0.04 0.18 0.23 0.07 0.06 0.11 0.07 0.09 1.71 0.10 0.05 0.09 0.17 0.04 0.08 0.16 0.04 0.03 0.04 0.33 0.02 5.06 0.08 0.07 0.06 0.58 0.18 0.15 0.11 1.25 0.04 0.18 0.22 0.07 0.05 0.06 0.08 1.76 0.08 0.04 0.08 0.17 0.03 0.07 0.15 0.04 0.03 0.04 0.29 0.02 5.06 0.07 0.06 0.06 0.56 0.17 0.15 0.10 1.23 0.04 0.17 0.19 0.05 0.05 Vol 41,099,500 24,605,100 14,870,600 12,779,100 10,526,400 10,361,300 10,179,500 9,896,100 9,879,100 8,922,400 7,652,700 6,350,600 6,062,600 5,840,600 5,651,500 5,548,000 5,477,500 5,300,200 5,103,300 4,697,600 4,226,000 4,135,700 3,998,600 3,877,400 3,745,900 3,732,600 3,666,600 3,414,400 3,241,300 3,214,400 20-day avg vol 40,985,970 5,714,575 26,980,750 13,953,270 32,398,260 11,503,310 3,071,745 8,443,985 1,314,550 13,975,920 21,108,740 22,751,200 6,544,005 2,497,765 19,006,690 4,340,245 6,293,645 12,447,780 13,630,740 11,774,010 3,735,240 23,258,020 5,455,090 10,999,820 2,286,220 15,516,600 491,395 10,774,410 14,170,070 4,107,470 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
48. 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 AMTEK HLDGS 0.28 CNI HOLDINGS BHD 0.09 3 0.78 TOYO INK GRP BHD 4 ASTINO BHD 1.00 5 KAMDAR GROUP M B 0.39 6 1.71 CRESCENDO CORP B 7 ASDION BHD 0.45 8 JIANKUN INTERNAT 0.29 9 0.25 ACME HOLDINGS BH 10 CYL CORP BHD 0.83 11 INIX TECHNOLOGIE 0.10 12 0.93 BERJAYA ASSETS B 13 IDIMENSION CON 0.09 14 SMRT HOLDINGS BH 0.19 15 3.11 TONG HERR RESOUR 16 LEE SWEE KIAT GR 0.37 17 SKH CONSORTIUM B 0.10 18 3.31 YINSON HLDGS BHD 19 LIEN HOE CORP 0.28 20 1.78 RCE CAPITAL BHD Raw data sourced from Bloomberg 1 2 RSI Bollinger Band Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.21 0.07 0.52 0.63 0.31 1.51 0.17 0.25 0.20 0.79 0.06 0.83 0.04 0.16 2.24 0.31 0.05 3.09 0.23 1.61 0.25 0.08 0.63 0.77 0.34 1.59 0.27 0.27 0.22 0.81 0.08 0.87 0.07 0.17 2.59 0.34 0.07 3.18 0.26 1.67 0.28 0.08 0.73 0.90 0.38 1.67 0.38 0.28 0.24 0.83 0.09 0.92 0.09 0.18 2.94 0.36 0.09 3.27 0.28 1.73 60.09 61.28 68.27 90.29 67.19 79.37 84.21 60.36 57.46 57.32 63.45 68.83 69.89 62.48 88.92 76.33 72.70 64.04 68.79 74.89 0.25 0.08 0.66 0.81 0.36 1.61 0.29 0.26 0.22 0.81 0.08 0.88 0.08 0.17 2.69 0.34 0.08 3.19 0.26 1.68 0.24 0.08 0.60 0.76 0.33 1.58 0.27 0.27 0.23 0.81 0.08 0.87 0.06 0.17 2.46 0.33 0.07 3.16 0.25 1.68 0.25 0.08 0.57 0.74 0.33 1.56 0.24 0.27 0.26 0.80 0.08 0.88 0.06 0.17 2.30 0.32 0.07 3.13 0.25 1.60 Vol 41,000 6,851,300 301,400 22,770,400 45,000 641,000 2,769,800 938,200 57,500 94,000 17,027,900 1,272,500 23,155,500 1,932,900 395,500 7,801,300 34,154,300 4,934,100 2,328,100 3,682,700 20-day avg vol 2,985 593,835 27,500 2,093,125 6,030 92,425 427,410 151,355 9,850 19,860 3,646,060 284,155 5,414,185 452,650 97,525 2,075,425 9,765,065 1,462,675 714,775 1,133,535 *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 AMBANK HLDG BHD 4.65 ASTRO MALAYSIA 2.74 3 1.65 PESTECH INTL BHD 4 CI HOLDINGS BHD 2.35 5 HONG LEONG INDS 9.37 6 0.87 FORMOSA PROSONIC 7 IMASPRO CORP BHD 1.92 8 PELIKAN INTERNAT 0.86 9 1.38 SUBUR TIASA 10 A-RANK BHD 1.09 11 BINA DARULAMAN 0.76 12 0.87 COMINTEL CORP BH 13 HUA YANG BHD 1.10 14 HIAP TECK VENTUR 0.32 15 2.83 CYCLE & CARR BIN 16 XIAN LENG HLDGS 0.38 17 COMPUTER FORMS 1.05 18 2.33 POWER ROOT BHD 19 DOMINANT ENTERPR 1.21 20 VERSATILE CREATI 1.29 Raw data sourced from Bloomberg 1 2 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 4.71 2.78 1.67 2.36 9.38 0.88 1.93 0.86 1.39 1.10 0.76 0.87 1.10 0.32 2.83 0.38 1.05 2.33 1.21 1.29 4.87 2.85 1.71 2.44 9.49 0.93 2.00 0.89 1.43 1.15 0.80 0.91 1.13 0.34 2.87 0.40 1.11 2.39 1.24 1.33 5.02 2.92 1.74 2.52 9.59 0.99 2.08 0.92 1.47 1.21 0.84 0.95 1.16 0.37 2.90 0.42 1.16 2.44 1.26 1.38 39.27 37.52 38.28 26.18 41.22 22.00 24.60 34.32 41.61 39.79 38.70 43.12 40.31 39.61 38.23 39.99 30.59 47.73 39.82 24.75 4.84 2.83 1.70 2.42 9.46 0.92 1.98 0.89 1.43 1.16 0.79 0.90 1.13 0.34 2.86 0.39 1.09 2.39 1.23 1.32 4.81 2.85 1.71 2.47 9.50 0.94 2.01 0.91 1.43 1.14 0.81 0.90 1.13 0.34 2.90 0.40 1.12 2.32 1.23 1.34 4.70 2.83 1.68 2.51 9.54 0.94 2.02 0.91 1.42 1.14 0.77 0.88 1.12 0.32 2.93 0.41 1.17 2.28 1.22 1.35 Vol 11,090,500 3,634,600 1,754,100 106,500 149,300 99,600 149,000 203,000 8,400 828,300 519,600 872,200 230,500 6,920,300 6,000 6,000 2,500 57,000 55,800 2,075,000 20-day avg vol 6,723,050 1,563,235 672,415 33,225 32,060 178,120 32,975 187,285 14,005 1,160,140 1,063,290 2,086,585 251,670 8,950,965 52,325 2,310 125 189,775 57,215 2,366,760 *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
49. 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 PENTAMASTER CORP ASTINO BHD BOON KOON GROUP TONG HERR RESOUR CAB CAKARAN CORP AJINOMOTO MALA CONNECTCOUNTY VITROX CORP BHD YGL CONVERGENCE ASDION BHD SUPERLON HLDG SCICOM (MSC) BHD GEORGE KENT MALA TSR CAPITAL BHD ELSOFT RESEARCH PANASONIC MANUFA ISKANDAR WATERFR CRESCENDO CORP B JHM CONSOLIDATIO IGB CORP BHD 2.78 1.00 0.34 3.11 2.25 15.90 0.28 4.74 0.17 0.45 2.97 2.40 3.94 0.72 1.95 34.90 2.93 1.71 3.20 2.95 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 1.74 0.63 0.06 2.24 1.48 14.39 0.14 4.21 0.11 0.17 2.36 2.16 2.67 0.46 1.60 30.28 1.46 1.51 2.64 2.84 2.22 0.77 0.21 2.59 1.83 15.22 0.22 4.43 0.14 0.27 2.66 2.28 3.42 0.60 1.76 32.67 2.41 1.59 2.87 2.90 2.70 0.90 0.35 2.94 2.19 16.04 0.29 4.66 0.16 0.38 2.96 2.41 4.17 0.74 1.91 35.06 3.36 1.67 3.10 2.95 90.61 90.29 89.15 88.92 88.20 87.84 86.28 85.84 85.80 84.21 83.46 83.19 82.46 81.57 81.54 81.53 81.26 79.37 79.18 79.10 2.42 0.81 0.26 2.69 1.98 15.52 0.25 4.51 0.15 0.29 2.76 2.34 3.76 0.66 1.80 33.51 2.63 1.61 2.91 2.92 2.06 0.76 0.18 2.46 1.78 14.98 0.20 4.31 0.13 0.27 2.62 2.26 3.25 0.57 1.71 32.36 2.02 1.58 2.73 2.84 1.87 0.74 0.17 2.30 1.73 14.65 0.18 4.10 0.13 0.24 2.59 2.23 3.14 0.53 1.65 32.05 1.59 1.56 2.41 2.68 Vol 4,459,300 22,770,400 26,645,100 395,500 2,395,700 14,400 6,451,900 609,800 1,201,500 2,769,800 234,400 122,900 849,700 1,407,900 741,100 4,700 27,820,800 641,000 989,700 306,400 20-day avg vol 1,825,570 2,093,125 15,205,740 97,525 1,022,925 18,680 8,532,740 236,795 1,482,280 427,410 293,140 338,710 2,122,245 766,165 251,595 11,880 31,293,970 92,425 535,410 281,630 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 FORMOSA PROSONIC 0.87 IMASPRO CORP BHD 1.92 3 VERSATILE CREATI 1.29 4 CI HOLDINGS BHD 2.35 5 MYCRON STEEL BHD 0.74 6 TOP GLOVE CORP B 4.92 7 COMPUTER FORMS 1.05 8 JKG LAND BHD 0.11 9 JAYCORP BHD 1.32 10 UMW OIL & GAS CO 0.62 11 SOUTHERN STEEL 1.22 12 TDM BHD 0.67 13 AMWAY MALAYSIA H 7.34 14 MEDA INC BHD 0.47 15 ENG KAH CORP BHD 1.45 16 PELIKAN INTERNAT 0.86 17 BORNEO AQUA HARV 0.82 18 EVERGREEN FIBREB 0.85 19 SYF RESOURCES BH 0.57 20 TECK GUAN PERDAN 2.13 Raw data sourced from Bloomberg 1 2 RSI Bollinger Band Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.88 1.93 1.29 2.36 0.73 4.91 1.05 0.11 1.32 0.61 1.19 0.66 7.19 0.46 1.44 0.86 0.80 0.84 0.56 1.99 0.93 2.00 1.33 2.44 0.79 5.11 1.11 0.12 1.37 0.64 1.40 0.68 7.62 0.48 1.53 0.89 0.85 0.87 0.59 2.38 0.99 2.08 1.38 2.52 0.85 5.30 1.16 0.14 1.42 0.66 1.60 0.70 8.04 0.50 1.62 0.92 0.89 0.91 0.62 2.77 22.00 24.60 24.75 26.18 26.90 30.17 30.59 31.73 31.77 32.03 32.49 32.52 33.18 33.74 33.86 34.32 35.83 36.00 36.17 36.41 0.92 1.98 1.32 2.42 0.77 5.03 1.09 0.12 1.35 0.63 1.33 0.68 7.48 0.47 1.50 0.89 0.86 0.86 0.58 2.44 0.94 2.01 1.34 2.47 0.81 5.11 1.12 0.13 1.38 0.65 1.42 0.70 7.71 0.48 1.56 0.91 0.86 0.89 0.60 2.30 0.94 2.02 1.35 2.51 0.87 5.13 1.17 0.13 1.39 0.68 1.38 0.73 7.60 0.49 1.62 0.91 0.89 0.92 0.61 2.26 Vol 99,600 149,000 2,075,000 106,500 1,129,600 2,073,600 2,500 37,450,400 118,900 840,400 683,100 1,860,200 56,000 510,000 200 203,000 362,300 1,619,600 2,039,600 135,200 20-day avg vol 178,120 32,975 2,366,760 33,225 1,790,170 2,593,055 125 12,867,230 254,190 1,530,365 381,395 1,704,890 67,285 123,850 5,115 187,285 575,620 3,934,045 1,619,510 255,675 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
50. Monday , 03 April, 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
51. TA Securities T e c h n i c a l V i e w Monday , April 03, 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 AUD60.46 62.96 60.66 58.36 SELL SIMPLE MOVING AVERAGES AUD 60.44 AUD 61.93 AUD 63.70 DAILY MACD Recent Signal BUY Signal Change 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 35.61 34.55 33.49 BUY AUD35.06 SIMPLE MOVING AVERAGES AUD 34.39 AUD 34.38 AUD 33.56 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 1 of 7
52. WESTFIELD CORP BOLLINGER BANDS AUD AUD AUD DMI Upper Middle Lower Recent Signal Signal Change 8 .93 8.65 8.37 BUY AUD8.88 SIMPLE MOVING AVERAGES AUD 8.70 AUD 8.73 AUD 8.82 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 13.10 12.82 12.54 BUY AUD12.89 SIMPLE MOVING AVERAGES AUD 12.80 AUD 12.70 AUD 12.60 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 7
53. ORICA LTD Upper Middle Lower BOLLINGER BANDS AUD AUD AUD DMI Recent Signal Signal Change AUD17 .60 18.93 17.96 16.99 SELL SIMPLE MOVING AVERAGES AUD 17.69 AUD 18.19 AUD 18.40 DAILY MACD Recent Signal BUY 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 4.01 3.84 3.67 10-day 30-day 50-day BUY Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES AUD 3.90 AUD 3.78 AUD 3.63 DAILY MACD BUY
54. 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 31-Mar Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff 5864.91 -31.32 5901.50 5864.90 5676.09 5778.12 5880.15 61.59 5790.21 5770.82 5737.00 38.65 18.03 22.01 20.62 24.04 60.46 85.91 35.06 31.82 33.34 45.07 32.08 22.27 8.88 6.23 12.89 7.05 5.18 3.80 90.20 13.21 17.60 7.22 10.82 15.06 4.64 1.79 14.06 3.89 12.36 -0.03 -0.03 -0.61 -0.20 -0.45 -0.15 -0.42 -0.25 -0.13 -0.02 0.02 -0.04 -0.09 0.03 -0.03 0.15 -0.05 -0.21 -0.07 0.01 -0.23 -0.07 -0.03 -0.08 -0.09 -0.22 24.23 60.89 86.65 35.34 32.27 33.63 45.60 32.41 22.40 8.92 6.29 13.08 7.16 5.20 3.85 90.93 13.34 17.83 7.31 10.87 15.35 4.71 1.84 14.33 3.97 12.60 23.92 60.11 85.91 35.06 31.82 33.29 45.06 32.08 22.11 8.84 6.20 12.89 7.05 5.12 3.80 89.88 13.21 17.57 7.22 10.71 15.06 4.64 1.78 14.06 3.89 12.36 23.10 58.36 82.25 33.49 30.81 31.51 42.79 30.36 20.82 8.37 5.91 12.54 6.14 4.89 3.49 86.23 12.94 16.99 6.71 10.18 13.91 4.41 1.71 13.56 3.67 12.15 24.36 60.66 84.32 34.55 31.62 32.57 44.02 31.25 21.99 8.65 6.36 12.82 6.65 5.02 3.69 88.32 13.24 17.96 6.98 10.47 14.61 4.59 1.82 13.90 3.84 12.57 25.63 62.96 86.39 35.61 32.43 33.63 45.26 32.13 23.17 8.93 6.81 13.10 7.16 5.15 3.88 90.40 13.55 18.93 7.26 10.76 15.31 4.77 1.93 14.24 4.01 12.98 42.91 44.80 61.31 60.67 56.67 65.35 64.77 60.16 51.14 59.10 44.30 54.42 61.75 62.83 53.13 63.01 48.99 43.07 60.50 67.07 62.48 55.43 44.87 60.27 59.22 46.42 24.14 60.44 84.51 34.39 31.57 32.51 44.21 31.43 22.47 8.70 6.29 12.80 6.83 5.04 3.74 88.35 13.13 17.69 7.05 10.53 14.90 4.59 1.78 13.86 3.90 12.53 24.79 61.93 84.09 34.38 31.41 32.39 43.63 31.27 22.19 8.73 6.48 12.70 6.65 5.00 3.74 87.88 13.27 18.19 7.01 10.41 14.51 4.62 1.85 13.81 3.78 12.63 25.50 63.70 83.48 33.56 30.64 31.71 42.71 31.50 22.26 8.82 6.54 12.60 6.85 5.04 3.83 86.67 13.25 18.40 7.01 10.21 14.52 4.54 1.88 13.47 3.63 12.28 26.97 26.79 33.98 35.50 30.34 35.60 31.92 30.70 28.81 26.78 17.65 32.58 39.02 28.42 25.26 31.04 23.52 20.97 26.73 34.41 34.13 25.95 25.81 27.08 28.61 22.62 34.38 34.29 16.59 21.72 19.05 16.87 13.21 18.61 23.21 17.17 34.39 20.37 18.04 17.65 20.80 17.72 22.60 27.71 17.13 13.88 16.97 15.52 29.56 15.73 16.82 21.02 15.75 20.21 16.79 20.72 25.18 24.60 25.02 20.38 13.62 24.76 21.48 16.50 21.97 14.67 19.33 14.74 12.04 20.77 17.49 23.35 20.12 20.04 14.08 22.72 31.19 15.74 (7.41) (7.49) 17.39 13.79 11.29 18.74 18.71 12.09 5.59 9.61 (16.75) 12.21 20.98 10.77 4.47 13.32 0.92 (6.73) 9.60 20.53 17.16 10.43 (3.75) 11.35 11.79 1.60 MACD DMI MACD DMI MACD Line Signal Diff Recent Signal Signal Change 28.92 16.75 12.171 BUY BUY -0.41 -0.43 0.018 SELL BUY -0.88 -0.98 0.099 SELL BUY 0.55 0.33 0.220 BUY BUY 0.29 0.25 0.034 BUY BUY 0.30 0.29 0.012 BUY BUY 0.33 0.25 0.075 BUY BUY 0.56 0.47 0.086 BUY BUY 0.14 -0.01 0.150 BUY BUY 0.14 0.10 0.042 BUY BUY 0.00 -0.05 0.053 BUY BUY -0.10 -0.07 (0.024) SELL SELL 0.07 0.07 (0.002) BUY SELL 0.08 0.01 0.074 BUY BUY 0.03 0.00 0.024 BUY BUY 0.00 -0.04 0.032 BUY BUY 0.63 0.50 0.127 BUY BUY -0.04 -0.05 0.004 BUY BUY - BUY -0.21 -0.21 0.001 SELL BUY 0.05 0.00 0.045 BUY BUY 0.13 0.10 0.029 BUY BUY 0.19 0.10 0.085 BUY BUY 0.02 0.01 0.013 BUY BUY -0.03 -0.03 0.001 SELL BUY - BUY 0.14 0.14 (0.005) BUY SELL 0.09 0.09 0.000 BUY BUY 0.01 0.04 (0.026) 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
55. 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 ($) PER(x) Div Yield(%) 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 24.04 27.75 13% 1.48 1.27 12.4 14.5 3.519 3.070 27.96 15.85 -4.07 60.46 70.63 14% 4.42 3.24 10.5 14.3 4.429 3.333 69.80 41.51 0.93 85.91 83.99 -2% 5.64 5.83 15.2 14.7 4.933 5.065 86.65 69.22 4.25 35.06 34.03 -3% 2.41 2.50 14.6 14.0 5.317 5.308 35.39 27.57 7.55 31.82 31.14 -2% 2.39 2.43 13.3 13.1 5.075 5.141 32.44 22.06 4.60 33.34 32.26 -3% 2.41 2.46 13.8 13.6 5.861 5.741 33.63 23.90 8.71 45.07 43.35 -4% 2.61 2.64 17.3 17.1 4.899 4.970 46.06 38.62 6.95 32.08 33.23 3% 1.31 1.49 18.8 16.5 3.145 3.585 32.59 23.82 2.95 22.27 22.94 3% 0.74 0.93 22.9 18.3 0.772 1.123 27.20 16.35 9.98 8.88 9.48 6% 0.33 0.36 20.6 18.9 2.894 2.939 11.14 8.21 -5.33 6.23 6.57 5% 0.85 0.50 5.6 9.6 5.281 3.242 7.27 2.47 5.77 12.89 13.66 6% 0.64 0.80 15.4 12.3 3.297 3.887 13.28 9.22 3.78 7.05 7.30 3% 0.32 0.55 21.9 12.8 0.000 1.248 7.47 4.42 6.98 5.18 5.30 2% 0.36 0.37 14.6 13.9 5.598 5.849 5.96 4.39 2.78 3.80 4.42 14% 0.14 0.20 20.3 14.9 0.947 2.026 5.07 3.30 -5.47 90.20 88.37 -2% 6.16 6.36 14.6 14.2 4.711 4.917 90.93 61.05 3.54 13.21 13.84 5% 0.91 0.98 14.5 13.5 5.541 5.942 13.95 11.27 -2.29 17.60 16.66 -6% 1.05 1.13 16.8 15.6 3.023 3.284 19.49 12.04 -0.45 7.22 7.98 10% 0.21 0.26 25.8 21.4 1.219 1.482 7.75 5.98 0.70 10.82 9.92 -9% 0.57 0.60 18.9 18.2 4.427 4.556 10.87 7.94 6.92 15.06 15.97 6% 0.61 0.65 19.0 17.8 2.835 3.174 16.66 13.62 0.74 4.64 4.82 4% 0.31 0.33 14.8 14.1 5.539 5.754 5.11 4.03 1.31 1.79 1.89 5% 0.11 0.10 12.8 14.3 5.866 5.810 2.04 1.19 -2.19 14.06 13.19 -7% 0.55 0.60 19.7 17.8 1.892 1.999 14.33 8.63 12.84 3.89 4.39 11% 0.53 0.53 7.38 7.30 3.779 4.679 4.22 2.58 16.82 12.36 12.42 0% 0.64 0.73 19.4 17.0 3.099 3.188 13.62 7.40 -3.66 Note : The above data is based on Bloomberg consensus. Page 5 of 7
56. 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) 28-Mar 29-Mar 30-Mar 31-Mar Total 5D MF (A) 27-Mar Prv. Chg Cur. Chg ASX 200 (10.4) 30.6 16.8 26.1 26.1 89.3 9.3 0.0 5,746.7 5,821.2 5,873.5 5,896.2 5,864.9 1 BHP BILLITON (2.7) 2.5 0.7 3.0 3.0 6.5 2.3 0.0 23.55 23.90 23.97 24.04 24.04 2 RIO TINTO 3 COMMONW BK AUSTR (0.9) 3.8 1.1 5.5 60.46 4.8 2.4 0.0 0.0 60.35 9.0 3.8 4.4 (4.2) 59.93 8.4 3.0 15.1 27.2 59.02 0.1 (2.7) 5.5 4.8 2.4 8.9 (1.4) 0.0 83.40 34.00 85.26 34.70 86.14 35.14 85.91 35.06 60.46 85.91 (0.4) 1.7 2.0 0.2 0.0 0.0 31.82 0.7 1.1 (1.8) (1.1) 32.30 1.8 (0.6) 3.7 7.3 31.94 4.8 1.2 0.2 0.7 31.45 (0.7) (0.2) 1.1 2.6 1.7 0.0 32.21 44.00 32.84 44.38 33.24 44.88 33.34 45.07 (0.6) 0.8 0.3 1.4 32.08 (1.1) (0.7) 0.0 0.0 31.94 0.2 (0.7) 1.1 (1.2) 31.63 0.0 (0.5) 3.3 (1.9) 31.21 (0.0) 0.4 1.4 (1.1) (0.7) (2.2) (0.1) 0.0 22.82 8.73 22.77 8.79 22.53 8.87 22.27 8.88 2.8 1.0 6.3 0.9 4.1 1.8 0.0 0.0 (0.3) (2.2) 0.3 0.0 0.1 (0.3) 1.7 (0.7) (0.6) (0.4) 0.0 0.0 2.4 5.4 1.4 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 Total Money Flow (AUD' mn) stsoo@ta.com.my 0.7 1.4 (1.3) 2.8 0.4 (0.5) (0.7) (0.6) (0.8) (0.6) 1.0 (0.3) 0.2 0.6 0.7 0.1 16 MACQUARIE GROUP 0.0 (3.0) (0.1) 2.5 0.1 1.0 (0.3) 2.4 17 SUNCORP GROUP 18 ORICA 0.0 (0.1) (0.2) (0.3) (0.6) 0.1 (0.7) 0.2 (0.7) 0.2 (2.2) 0.1 19 OIL SEARCH 20 COCA-COLA AMATIL 21 AMCOR (0.6) 0.2 (0.2) 0.3 0.3 (0.6) 0.8 1.9 0.4 (0.1) 0.1 0.6 0.3 (0.3) 1.5 0.0 0.8 1.9 1.5 (0.3) 0.5 0.1 (0.3) 25 QANTAS AIRWAYS 0.4 (0.5) 0.7 0.3 0.5 0.5 0.4 (0.7) 26 SIMS METAL MGMT (0.0) (0.0) (0.0) (0.1) 13 ORIGIN ENERGY 14 AMP 15 SANTOS 22 STOCKLAND 23 ALUMINA 24 COMPUTERSHARE CLOSING PRICE 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar (A+B) DMF Chg (31.32) IN 0.00 31.82 33.34 IN 0.00 IN 0.00 OUT 0.00 OUT 0.00 OUT 0.00 OUT 45.07 0.00 35.06 6.23 12.89 IN 0.00 IN 0.00 OUT 0.00 OUT 0.00 IN 0.00 IN 7.05 0.00 32.08 22.27 8.88 6.07 6.15 6.17 6.23 12.71 6.84 12.79 6.93 12.87 7.08 12.89 7.05 5.02 5.06 5.14 5.18 0.0 3.76 87.36 3.81 88.10 3.85 89.25 3.80 90.20 90.20 (0.1) 0.2 0.0 0.0 13.00 17.40 13.14 17.75 13.25 18.01 13.21 17.60 13.21 17.60 IN 0.00 OUT 0.00 OUT 0.00 IN 0.00 OUT 0.00 IN 1.1 3.6 3.9 0.5 2.5 1.2 0.0 0.0 0.0 7.00 10.47 7.15 10.59 7.20 10.58 7.22 10.82 0.2 0.4 0.0 15.10 4.66 15.29 4.68 15.06 4.64 0.00 0.00 0.00 0.0 14.91 4.63 7.22 10.82 15.06 4.64 0.00 (0.3) 0.4 (0.3) 2.4 (0.4) (0.0) 0.0 0.0 1.73 1.77 1.81 1.79 (0.7) (1.1) (1.2) 0.0 13.71 3.92 13.90 3.98 14.12 4.00 14.06 3.89 1.79 14.06 (0.1) (0.2) (0.1) 0.0 12.41 12.52 12.73 12.36 0.00 OUT 0.00 OUT 0.00 OUT 0.00 OUT 5.18 3.80 3.89 12.36 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 6 of 7
57. 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 31-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 15.06 24.04 24.04 24.04 10.82 14.06 14.06 90.20 90.20 31.82 3.89 3.89 3.89 3.89 3.89 3.89 3.89 3.89 12.89 12.89 12.89 60.46 60.46 3.80 4.64 4.64 13.21 13.21 13.21 35.06 35.06 8.88 32.08 Change (+/-) 0.77 1.19 5.61 6.18 2.69 3.46 4.37 6.53 12.63 3.49 0.62 0.68 (0.22) 0.42 0.91 0.52 0.51 0.42 3.12 1.76 2.88 8.25 (2.03) 0.11 0.37 0.26 1.24 1.55 0.33 4.49 0.74 (0.13) 0.48 pct ST 5.39 5.21 30.44 34.60 33.09 32.64 45.10 7.80 16.28 12.32 18.96 21.18 (5.35) 12.10 30.54 15.43 15.09 12.10 31.93 15.81 28.77 15.80 (3.25) 2.98 8.67 5.94 10.36 13.29 2.56 14.69 2.16 (1.44) 1.52 618,640 74,200 11.99% Upside Targets MT LT 15.57 16.66 17.74 25.17 27.79 32.04 25.17 27.79 32.04 25.17 27.79 32.04 11.00 11.71 12.16 15.42 16.23 16.88 15.42 16.23 16.88 93.46 97.59 100.95 93.46 97.59 100.95 33.61 37.25 40.88 4.22 4.69 4.98 4.22 4.69 4.98 4.22 4.69 4.98 4.22 4.69 4.98 4.22 4.69 4.98 4.22 4.69 4.98 4.22 4.69 4.98 4.22 4.69 4.98 13.63 15.00 16.36 13.63 15.00 16.36 13.63 15.00 16.36 63.50 69.80 77.65 63.50 69.80 77.65 4.09 4.47 4.95 4.78 5.11 5.44 4.78 5.11 5.44 14.57 15.62 16.28 14.57 15.62 16.28 14.57 15.62 16.28 36.98 39.85 42.70 36.98 39.85 42.70 9.33 9.68 10.02 33.84 36.94 40.03 ST 3.39 4.70 4.70 4.70 1.66 9.67 9.67 3.61 3.61 5.63 8.48 8.48 8.48 8.48 8.48 8.48 8.48 8.48 5.74 5.74 5.74 5.03 5.03 7.63 3.02 3.02 10.30 10.30 10.30 5.48 5.48 5.07 5.49 % Upside MT 10.62 15.60 15.60 15.60 8.23 15.43 15.43 8.19 8.19 17.06 20.57 20.57 20.57 20.57 20.57 20.57 20.57 20.57 16.37 16.37 16.37 15.45 15.45 17.63 10.13 10.13 18.24 18.24 18.24 13.66 13.66 9.01 15.15 LT 17.80 33.28 33.28 33.28 12.38 20.06 20.06 11.92 11.92 28.47 28.02 28.02 28.02 28.02 28.02 28.02 28.02 28.02 26.92 26.92 26.92 28.43 28.43 30.26 17.24 17.24 23.24 23.24 23.24 21.79 21.79 12.84 24.78 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
58. TA Securities T e c h n i c a l V i e w Monday , April 03, 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 90.20 86.20 82.20 SELL HKD85.05 SIMPLE MOVING AVERAGES HKD 87.49 HKD 86.22 HKD 86.78 DAILY MACD Recent Signal SELL 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 6.31 6.06 BUY www.taonline.com.my HKD6.25 SIMPLE MOVING AVERAGES HKD 6.38 HKD 6.32 HKD 6.16 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 1 of 7
59. LI & FUNG LTD BOLLINGER BANDS HKD HKD HKD DMI Upper Middle Lower Recent Signal Signal Change HKD3.37 3.91 3.67 3.42 SELL SIMPLE MOVING AVERAGES HKD 3.68 HKD 3.61 HKD 3.52 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day POWER ASSETS HLGS LTD Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS HKD HKD HKD DMI 68.77 67.63 66.48 SELL HKD67.00 SIMPLE MOVING AVERAGES HKD 67.28 HKD 68.26 HKD 68.79 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 7
60. CATHAY PACIFIC AIRWAYS LTD Upper Middle Lower BOLLINGER BANDS HKD HKD HKD DMI Recent Signal Signal Change 11 .89 11.38 10.87 SELL HKD11.28 SIMPLE MOVING AVERAGES HKD 11.21 HKD 11.37 HKD 11.12 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 HKD49.00 50.60 49.52 48.43 10-day 30-day 50-day BUY Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES HKD 49.73 HKD 49.40 HKD 48.69 DAILY MACD SELL
61. 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 31-Mar HANG SENG 24,111.59 (189.50) 24,329.98 24,105.38 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 63.30 85.05 6.25 5.08 9.28 23.85 3.86 114.20 5.69 222.80 195.60 95.60 43.50 6.30 18.04 81.25 3.37 31.75 157.60 15.54 77.60 20.20 66.70 22.20 67.00 5.05 48.15 6.04 3.92 10.40 32.15 6.51 43.65 13.62 17.68 9.56 21.00 22.75 14.02 3.80 11.28 11.08 8.58 3.03 2.36 49.00 36.00 42.55 (0.20) (0.65) (0.08) (0.04) (0.06) (0.10) (0.04) (0.80) (0.07) (2.40) 1.20 (1.15) (0.55) (0.06) (0.16) (0.70) (0.01) (0.35) (1.30) 0.00 (0.25) (0.50) (0.95) 0.00 0.10 (0.07) (0.20) (0.02) (0.05) (0.10) (0.25) (0.09) (0.35) (0.18) (0.32) (0.02) (0.20) (0.05) 0.00 0.00 0.04 (0.02) 0.00 0.03 (0.02) (0.60) (0.40) (0.55) 63.85 85.85 6.38 5.16 9.42 24.05 3.90 115.00 5.80 226.40 196.60 97.00 44.15 6.39 18.30 81.95 3.42 32.20 159.40 15.62 78.40 20.65 67.65 22.35 67.25 5.10 48.35 6.05 3.98 10.56 32.60 6.67 44.10 13.86 17.84 9.62 21.35 22.95 14.08 3.82 11.38 11.12 8.59 3.03 2.36 49.50 36.55 43.15 63.30 85.05 6.25 5.07 9.23 23.55 3.85 113.40 5.65 222.60 194.90 95.60 43.25 6.29 17.94 81.25 3.36 31.75 156.70 15.50 77.60 20.05 66.35 22.00 66.90 5.00 47.75 5.99 3.90 10.38 32.00 6.48 43.50 13.56 17.58 9.51 20.85 22.40 13.90 3.72 11.26 10.92 8.40 2.97 2.34 48.80 35.65 42.20 Change High RSI Bollinger Bands Low Lower 23,410.17 62.51 82.20 6.06 4.91 8.74 23.04 3.77 111.76 5.63 206.91 189.04 95.16 40.86 5.71 14.70 76.94 3.42 30.77 156.28 14.73 76.64 19.50 62.02 22.00 66.48 4.99 44.02 5.96 3.83 9.15 31.52 6.46 41.05 12.96 17.26 9.54 20.34 20.93 13.81 3.64 10.87 10.84 8.31 2.99 2.31 48.43 32.91 36.96 Mid Upper 14d 24,081.21 24,752.26 51.96 63.41 86.20 6.31 5.09 9.08 24.12 3.90 113.84 5.79 220.00 194.65 96.52 42.83 6.06 17.30 79.74 3.67 31.72 158.37 15.20 78.52 20.28 66.89 23.89 67.63 5.21 46.79 6.09 4.01 9.99 32.05 6.81 42.56 13.55 17.84 9.83 21.66 21.83 14.34 3.93 11.38 11.14 8.53 3.14 2.40 49.52 34.82 40.34 64.31 90.20 6.56 5.28 9.42 25.19 4.03 115.92 5.94 233.09 200.25 97.88 44.79 6.41 19.89 82.54 3.91 32.66 160.46 15.66 80.40 21.07 71.75 25.78 68.77 5.43 49.56 6.21 4.19 10.84 32.58 7.16 44.07 14.15 18.41 10.12 22.98 22.73 14.87 4.21 11.89 11.44 8.75 3.30 2.49 50.60 36.74 43.71 45.55 43.01 47.39 49.98 53.58 47.95 47.74 56.02 37.46 57.70 52.11 47.72 58.73 63.64 59.06 64.36 33.78 52.14 46.01 71.01 41.56 50.90 56.54 31.86 37.94 42.67 70.09 46.54 43.63 68.58 48.41 43.14 68.48 54.04 49.76 42.21 44.48 68.11 44.52 44.53 50.75 45.28 53.60 47.15 46.89 47.47 64.35 72.04 Moving Averages 10d 24,344.58 63.27 87.49 6.38 5.15 9.17 24.27 3.92 114.61 5.79 225.72 196.43 96.85 43.70 6.21 18.55 80.88 3.68 32.05 158.34 15.40 77.77 20.60 68.02 23.37 67.28 5.13 48.09 6.10 4.04 10.34 32.18 6.68 43.23 13.81 18.00 9.75 21.88 22.17 14.38 3.82 11.21 11.18 8.59 3.08 2.37 49.73 35.60 41.86 30d DMI 50d DI + DMI MACD DI - ADX Diff Line Signal Diff MACD Recent Signal DMI MACD Signal Change 24,024.65 23,775.11 29.03 23.83 27.66 5.20 167.70 189.26 (21.560) BUY SELL - - 63.70 86.22 6.32 5.09 9.16 24.09 3.91 113.65 5.86 216.79 195.20 95.89 42.50 6.07 16.96 79.32 3.61 31.55 159.36 15.13 79.18 20.09 65.19 23.88 68.26 5.26 46.22 6.13 4.06 9.80 32.25 6.84 42.13 13.46 17.83 9.87 21.51 21.76 14.31 3.98 11.37 11.19 8.52 3.10 2.38 49.40 34.04 39.27 64.75 86.78 6.16 4.99 9.36 23.53 3.81 111.16 5.97 211.68 193.71 94.36 41.85 6.10 16.67 78.23 3.52 31.31 159.30 14.96 79.08 19.75 62.39 23.67 68.79 5.14 45.01 6.02 4.06 9.57 32.55 6.52 41.17 13.19 17.18 9.56 20.92 21.53 14.03 4.00 11.12 11.33 8.34 2.93 2.36 48.69 33.80 37.87 23.62 24.29 20.65 22.74 21.52 24.81 23.82 16.76 25.12 20.05 18.34 18.40 11.65 14.40 21.62 9.53 29.41 18.91 19.53 7.28 14.14 27.74 17.04 33.92 19.08 27.30 12.89 23.98 27.85 10.70 17.07 22.11 7.11 14.98 16.54 25.05 26.11 10.38 20.14 22.29 19.66 23.59 18.18 18.81 23.85 23.29 14.10 5.48 10.01 21.44 20.46 23.21 22.70 21.32 22.82 29.54 17.35 26.68 15.63 23.69 39.52 23.23 31.44 40.82 22.85 18.72 13.51 35.70 11.10 27.95 40.84 28.56 19.75 22.87 39.90 11.37 11.17 43.71 13.29 24.71 56.94 33.68 20.20 23.94 22.01 17.09 21.36 14.68 18.32 19.19 20.07 31.86 32.02 24.42 31.96 47.82 2.64 (4.47) 2.00 4.45 6.23 (2.30) 2.56 5.62 (8.32) 12.18 3.35 (1.10) 16.03 17.18 13.92 21.86 (11.05) 2.58 (3.72) 22.34 2.19 (8.96) 11.37 (19.57) (6.24) (9.26) 13.02 (4.76) (5.05) 23.13 1.49 (1.62) 27.62 10.67 4.58 (10.35) (3.46) 12.64 (3.38) (1.93) (0.10) (7.21) 3.19 (3.79) 4.82 2.72 15.94 26.47 -0.33 0.01 0.05 0.04 -0.01 0.12 0.02 0.94 -0.06 4.46 0.46 0.60 0.61 0.08 0.59 0.96 0.01 0.27 -0.25 0.17 -0.45 0.28 1.60 -0.35 -0.50 -0.03 1.02 0.01 -0.02 0.28 -0.05 -0.01 0.72 0.19 0.16 -0.01 0.18 0.31 0.02 -0.06 0.00 -0.06 0.05 0.02 0.00 0.25 0.72 1.45 -0.39 0.18 0.07 0.05 -0.07 0.24 0.04 1.14 -0.06 4.63 0.64 0.85 0.57 0.04 0.53 0.82 0.05 0.30 -0.10 0.15 -0.37 0.32 2.00 -0.04 -0.45 0.01 0.96 0.02 -0.01 0.25 -0.10 0.05 0.66 0.20 0.24 0.06 0.35 0.22 0.11 -0.04 0.03 -0.05 0.06 0.05 0.01 0.37 0.60 1.29 0.064 (0.177) (0.020) (0.011) 0.059 (0.115) (0.014) (0.203) 0.000 (0.167) (0.184) (0.249) 0.039 0.040 0.059 0.138 (0.043) (0.029) (0.149) 0.029 (0.073) (0.038) (0.405) (0.308) (0.049) (0.033) 0.059 (0.015) (0.010) 0.033 0.055 (0.057) 0.057 (0.012) (0.076) (0.065) (0.168) 0.092 (0.088) (0.022) (0.026) (0.003) (0.018) (0.032) (0.008) (0.125) 0.126 0.158 BUY SELL BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL BUY BUY BUY BUY SELL BUY SELL BUY BUY SELL BUY SELL SELL SELL BUY SELL SELL BUY BUY SELL BUY BUY BUY SELL SELL BUY SELL SELL SELL SELL BUY SELL BUY BUY BUY BUY BUY SELL SELL SELL BUY SELL SELL SELL BUY SELL SELL SELL BUY BUY BUY BUY SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL BUY SELL SELL BUY BUY SELL BUY SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL SELL SELL BUY BUY SELL SELL SELL - SELL SELL SELL SELL - 26.26 19.82 22.65 27.19 27.75 22.52 26.38 22.38 16.80 32.23 21.69 17.30 27.68 31.58 35.54 31.40 18.36 21.49 15.81 29.63 16.32 18.77 28.40 14.35 12.85 18.04 25.91 19.22 22.80 33.83 18.57 20.49 34.74 25.65 21.12 14.70 22.65 23.02 16.76 20.36 19.56 16.38 21.37 15.02 28.67 26.01 30.04 31.95 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
62. 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 ($) PER(x) Div Yield(%) Stock Name Close Target Price 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 63.30 63.34 85.20 107.01 20% 6.26 7.50 17% 5.10 6.08 16% 0.8 0.8 9.31 11.10 16% 0.6 0.8 23.80 28.09 15% 0.9 1.1 22.7 18.7 3.86 4.46 13% 0.6 0.6 6.0 5.9 114.00 129.67 12% 8.8 9.5 13.0 12.0 5.68 7.13 20% 0.3 0.4 17.5 12.3 223.40 256.94 13% 6.2 7.8 32.1 25.4 % upside 0% 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 0.6 0.7 13.6 12.5 0.8 0.8 69.10 44.50 1.69 5.6 6.1 13.4 12.4 3.1 3.3 99.30 80.30 3.65 0.9 1.0 5.9 5.6 4.4 4.7 6.55 4.50 4.86 5.8 5.5 4.6 4.8 5.27 3.82 9.68 N/A 10.6 3.4 3.6 10.88 8.46 -4.02 1.4 1.5 25.50 16.00 17.82 4.4 4.5 4.08 2.90 12.21 3.5 3.6 123.30 85.40 16.33 2.3 3.1 6.38 4.76 -1.73 0.3 0.4 230.20 152.20 17.76 195.50 197.21 1% 5.7 6.3 34.5 31.0 2.6 2.9 213.20 175.00 6.71 95.80 113.73 16% 9.2 10.1 10.4 9.5 3.0 3.3 103.90 80.60 8.99 43.40 56.15 23% 3.6 4.0 10.6 9.6 1.6 1.7 44.95 32.50 11.86 6.30 7.30 14% 0.4 0.5 12.7 11.1 4.0 4.5 6.39 4.86 14.55 18.04 19.00 5% 1.5 1.5 10.5 10.8 3.1 3.2 19.78 11.40 23.56 81.50 79.08 -3% 5.0 5.2 16.2 15.7 3.5 3.6 84.35 68.75 14.39 3.39 3.17 -7% 0.0 0.0 13.2 12.5 0.8 0.8 5.15 3.24 -0.59 31.85 34.47 8% 2.2 2.5 14.4 12.6 5.6 4.0 32.55 21.01 14.77 158.20 154.98 -2% 9.3 10.2 17.1 15.6 4.0 4.2 164.40 127.60 9.63 15.62 12.85 -22% 0.6 0.6 26.2 25.1 2.4 2.6 15.62 12.75 13.68 77.90 78.15 0% 4.8 5.1 16.1 15.2 3.4 3.7 94.40 72.20 5.20 20.15 19.66 -3% 1.2 1.1 16.8 18.6 3.7 3.7 20.95 13.64 22.57 66.85 65.70 -2% 4.7 4.8 14.3 13.8 3.3 3.4 69.95 39.00 29.68 22.20 28.85 23% 3.2 3.6 6.9 6.1 3.8 4.4 27.85 20.15 8.03 66.95 74.22 10% 3.4 3.5 19.5 18.9 4.1 4.2 75.73 62.78 4.77 5.04 4.92 -2% 0.4 0.4 11.2 11.1 4.9 4.9 5.79 4.07 15.60 48.00 48.82 2% 3.3 3.2 14.6 14.9 3.2 3.3 49.30 39.64 16.36 6.04 6.00 -1% 0.9 0.9 6.0 5.7 4.4 4.6 6.44 4.46 7.66 3.92 4.52 13% 0.3 0.3 12.8 13.3 2.0 1.7 4.88 2.92 6.52 10.44 11.78 11% 0.2 0.4 39.6 22.5 0.8 1.4 10.76 7.70 15.61 32.15 25.72 -25% 2.1 1.8 15.5 18.2 2.9 2.6 34.75 26.35 8.25 6.52 5.89 -11% 0.0 0.2 N/A 40.5 0.0 1.1 7.62 5.34 7.06 43.75 39.12 -12% 1.6 1.6 27.7 27.0 7.5 2.6 44.50 35.35 16.05 13.62 13.64 0% 0.8 0.8 16.2 16.4 3.8 3.8 14.48 10.96 17.21 17.68 18.95 7% 0.6 0.7 27.9 24.1 1.1 1.2 18.90 13.11 14.81 9.57 11.22 15% 0.8 0.8 12.3 11.6 4.6 4.6 10.46 6.91 16.71 21.10 28.19 25% 2.8 3.2 7.6 6.6 3.8 4.3 23.85 16.50 20.99 22.70 24.32 7% 1.6 1.7 14.0 13.2 3.3 3.5 24.95 18.80 17.98 13.96 14.78 6% 1.4 1.5 9.9 9.3 5.9 6.1 15.50 10.70 13.31 3.80 4.43 14% 0.2 0.2 17.0 15.7 0.2 0.4 4.45 2.25 18.75 11.30 9.97 -13% -0.1 0.2 NA 45.4 0.5 0.7 13.50 10.00 10.78 11.04 12.35 11% 1.6 1.7 7.1 6.6 3.1 3.9 12.78 10.54 -0.54 8.56 9.10 6% 0.1 0.1 13.9 12.8 0.7 0.7 9.48 7.28 9.88 3.03 3.13 3% 0.0 0.0 19.5 16.3 0.4 0.4 3.38 2.31 23.67 2.36 2.45 4% 0.0 0.0 N/A NA 0.0 0.0 3.00 2.00 4.42 49.10 56.69 13% 0.4 0.4 17.1 15.5 0.3 0.3 54.15 42.30 12.23 36.10 38.07 5% 0.2 0.2 23.5 21.3 0.7 0.7 39.30 24.60 7.12 42.60 42.87 1% 1.6 1.8 26.2 24.2 1.2 1.3 43.35 21.73 26.83 Note : The above data based on Bloomberg consensus. Page 5 of 7
63. Daily Money Flow of Technical Stock Picks Hong Kong THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo Name No Tel: +603-2167 9607 Total Money Flow (HKD' mn) 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar Total 5D MF stsoo@ta.com.my (A) Prv. Chg (B) Cur. Chg www.taonline.com.my CLOSING PRICE 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar (A+B) DMF Chg HANG SENG 445.6 198.3 (2.6) 22.8 22.8 686.9 25.4 0.0 24,193.7 24,345.9 24,392.1 24,301.1 24,111.6 (189.50) 1 2 3 4 5 6 7 8 HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP 72.9 6.6 (7.8) 54.3 18.5 (11.4) (14.8) 18.7 51.7 7.4 (23.4) 4.2 9.4 8.4 (10.4) (10.9) (27.5) 103.9 (16.8) (4.1) 63.30 85.05 6.25 5.08 9.28 11.2 (5.3) 8.7 1.6 (1.6) (0.0) (9.0) 10.0 59.3 4.7 (7.7) (1.7) 0.8 0.6 (0.0) (28.9) (0.6) 13.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.15 14.14 3.78 11.20 11.10 8.33 3.08 2.38 49.30 36.25 42.65 22.30 14.10 3.77 11.30 11.08 8.43 3.08 2.37 49.80 36.15 42.75 22.75 14.02 3.80 11.28 11.08 8.58 3.03 2.36 49.00 36.00 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.9 (3.9) 0.7 0.8 (0.0) (0.0) (23.5) (1.1) 15.1 22.30 14.12 3.60 11.18 10.98 8.59 3.08 2.35 49.30 34.85 41.20 6.51 43.65 13.62 17.68 9.56 21.00 22.75 14.02 ALCORP CATHAY CITIC COSCO FIH MOBILE GENHK AIA SANDS CHINA LTD GALAXY ENTERTAIN 6.3 1.4 2.9 (3.9) 0.7 0.8 (0.0) (0.0) (23.5) (1.1) 15.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40 41 42 43 44 45 46 47 48 1.6 (1.3) (1.8) 3.8 2.4 (0.1) (0.6) (0.0) 5.4 (0.5) 1.8 (0.2) 1.8 0.6 0.1 (3.3) (0.3) 4.7 2.6 10.40 32.15 6.51 43.65 13.62 17.68 9.56 21.00 1.8 (0.1) 1.6 (5.9) 2.0 (0.2) 0.1 0.1 10.3 21.9 15.6 (0.9) 8.0 3.9 (0.8) (14.7) 31.9 17.3 (1.3) 10.50 32.35 6.74 43.55 13.86 17.68 9.66 21.55 1.2 (2.7) 5.5 4.7 2.8 0.3 (1.1) (0.1) 22.3 (9.4) 11.7 (0.4) 2.1 0.7 (0.3) (5.1) 9.8 6.3 1.4 10.48 32.35 6.69 43.35 13.82 17.80 9.66 21.90 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER 10.52 32.15 6.58 42.95 13.82 17.84 9.64 21.85 22.20 67.00 5.05 48.15 6.04 3.92 10.40 32.15 32 33 34 35 36 37 38 39 (6.1) (0.4) (0.4) 2.1 0.7 (0.3) (5.1) 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20.20 66.70 22.20 67.00 5.05 48.15 6.04 3.92 (1.1) (0.5) (0.1) 0.3 0.1 (0.5) (1.9) 10.1 5.4 13.2 1.2 (0.2) (4.6) 0.2 (5.1) 0.1 20.75 67.60 22.55 67.15 5.10 48.30 6.09 4.04 (0.7) (0.0) 0.4 2.7 0.0 0.0 (1.5) 3.0 79.7 4.7 (6.8) 7.8 14.2 (1.5) (1.4) (1.0) 20.60 67.25 22.65 67.20 5.09 48.20 6.09 3.98 12.6 0.2 (0.4) 0.7 2.4 0.3 (1.1) (0.8) 25.8 5.8 (0.4) (0.9) 0.4 0.2 (6.1) (0.4) 20.60 67.95 22.70 67.00 5.02 48.20 6.05 3.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA (1.6) (14.8) 25.8 5.8 (0.4) (0.9) 0.4 0.2 81.25 3.37 31.75 157.60 15.54 77.60 20.20 66.70 24 25 26 27 28 29 30 31 0.8 (0.5) 20.4 (7.5) (1.5) (0.8) 5.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.30 18.04 81.25 3.37 31.75 157.60 15.54 77.60 0.1 2.6 3.8 0.8 (2.1) 8.8 4.1 (0.7) (5.1) (8.2) 12.4 7.0 (2.6) 0.5 (2.4) (14.2) 6.35 18.52 81.35 3.74 32.20 158.00 15.50 78.10 4.4 (3.2) 4.0 (0.1) (2.5) 1.6 4.2 (1.3) (3.4) (14.8) 32.0 24.4 9.2 (0.9) 2.1 (30.6) 6.28 18.50 81.30 3.76 32.05 158.40 15.50 78.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (5.2) (6.5) 11.7 4.9 0.5 (0.5) (1.6) (14.8) 6.21 18.28 80.90 3.72 32.10 157.30 15.46 77.80 5.69 222.80 195.60 95.60 43.50 6.30 18.04 CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF 12.6 (8.4) (5.2) (6.5) 11.7 4.9 0.5 (0.5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16 17 18 19 20 21 22 23 6.2 13.2 (0.1) 1.7 (0.7) (2.1) 3.2 (1.1) (13.7) 74.2 35.9 (6.5) 14.5 6.4 (21.6) 23.85 3.86 114.20 5.69 222.80 195.60 95.60 43.50 (2.8) 14.0 1.2 (2.1) 2.5 4.3 1.3 1.0 42.5 20.7 59.3 (19.2) (10.3) 47.8 19.8 24.05 3.93 114.10 5.75 228.00 194.60 96.35 43.80 19.2 9.3 5.8 (1.4) 6.8 12.5 3.6 0.2 (6.4) 17.1 26.2 (10.5) (17.1) 12.6 (8.4) 24.05 3.91 114.40 5.77 226.00 195.40 96.90 43.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA 23.80 3.87 114.40 5.75 224.80 195.00 96.85 43.50 63.30 85.05 6.25 5.08 9.28 23.85 3.86 114.20 9 10 11 12 13 14 15 (2.5) (50.3) (1.1) (6.4) 17.1 26.2 (10.5) (17.1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 63.55 86.40 6.41 5.17 9.34 4.4 41.7 4.4 7.3 (57.1) (9.6) (4.0) (31.6) 12.5 (31.7) 94.5 (25.1) 6.3 (6.9) (92.0) (5.5) 63.30 86.80 6.38 5.15 9.31 (0.6) (7.8) 16.8 18.4 17.7 (0.6) 1.3 13.5 16.3 (59.0) 228.1 80.8 7.4 24.6 (25.5) 21.7 62.75 86.20 6.33 5.12 9.24 25.8 41.2 2.6 29.6 25.9 17.0 4.5 42.0 (10.9) (27.5) 103.9 (16.8) (4.1) (2.5) (50.3) (1.1) 3.80 11.28 11.08 8.58 3.03 2.36 49.00 36.00 42.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 IN IN OUT IN OUT IN OUT OUT OUT OUT IN IN OUT IN IN OUT OUT OUT IN IN OUT IN OUT OUT IN IN IN OUT OUT IN OUT IN OUT IN IN IN OUT OUT IN IN IN OUT OUT IN IN OUT OUT OUT 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
64. 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 PETROCHINA PING AN PING AN POWER ASSETS 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 25-Mar 14-Jul 14-Mar 28-Mar 11-Oct 19-Feb 22-Feb 31-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 5.14 34.95 41.75 67.00 34.80 27.60 31.75 49.10 49.10 49.10 49.10 49.10 3.86 3.86 5.04 23.80 23.80 6.30 17.68 17.68 10.44 10.44 9.31 9.31 8.56 3.03 3.03 42.60 42.60 42.60 63.30 5.10 5.10 5.10 5.68 43.40 43.40 66.95 36.10 36.10 36.10 Change (+/-) 0.60 4.50 7.15 2.65 (1.10) 0.40 0.36 (0.41) 4.48 2.45 0.88 2.14 3.16 0.90 0.84 (0.93) 0.42 0.61 0.18 (0.52) 15.15 9.10 4.75 4.30 0.20 1.27 0.41 0.54 8.45 1.65 (0.05) 1.30 8.50 4.35 787,090 88,680 11.27% pct ST 1.24 53.17 10.09 53.17 17.04 53.17 5.71 53.17 (2.19) 53.17 11.56 4.25 10.29 4.25 (7.52) 5.47 23.19 25.36 11.48 25.36 16.24 6.56 13.77 18.62 21.76 18.62 9.43 10.87 8.75 10.87 (9.08) 10.09 4.72 10.09 7.67 8.88 6.32 3.23 (14.65) 3.23 55.19 46.30 27.16 46.30 12.55 46.30 7.29 70.28 4.08 5.27 33.16 5.27 8.74 5.27 10.51 6.10 24.18 46.70 3.95 46.70 (0.07) 70.70 3.74 38.39 30.80 38.39 13.70 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 27.57 31.15 27.57 31.15 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 6.78 7.60 50.52 55.25 50.52 55.25 73.26 77.41 42.56 49.30 42.56 49.30 42.56 49.30 ST 8.29 8.29 8.29 8.29 8.29 10.10 10.10 8.53 6.55 6.55 4.13 5.32 5.32 4.12 4.12 8.38 8.38 3.74 6.60 6.60 8.69 8.69 8.69 11.03 3.33 3.33 3.33 7.39 7.60 7.60 5.60 6.34 6.34 6.34 % Upside MT 18.53 18.53 18.53 18.53 18.53 19.17 19.17 17.26 15.84 15.84 14.13 12.50 12.50 13.51 13.51 17.72 17.72 10.05 15.84 15.84 28.64 28.64 28.64 23.62 10.59 10.59 10.59 19.37 16.41 16.41 9.42 17.89 17.89 17.89 LT 28.78 28.78 28.78 28.78 28.78 29.53 29.53 39.88 30.88 30.88 30.63 18.83 18.83 22.89 22.89 29.32 29.32 16.47 25.08 25.08 48.59 48.59 48.59 36.05 19.41 19.41 19.41 33.80 27.30 27.30 15.62 36.57 36.57 36.57 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
65. TA Securities T e c h n i c a l V i e w Monday , April 03, 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 SGD3.92 4.00 3.93 3.87 SELL SELL SIMPLE MOVING AVERAGES SGD 3.92 SGD 3.94 SGD 3.92 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 3.66 3.57 BUY SGD3.63 SIMPLE MOVING AVERAGES SGD 3.67 SGD 3.64 SGD 3.53 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 1 of 7
66. S ’PORE EXCHANGE LTD BOLLINGER BANDS SGD SGD SGD DMI Upper Middle Lower Recent Signal Signal Change 7.77 7.58 7.39 BUY SGD7.70 SIMPLE MOVING AVERAGES SGD 7.63 SGD 7.57 SGD 7.56 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 10.81 10.21 9.61 BUY SGD10.20 SIMPLE MOVING AVERAGES SGD 10.32 SGD 9.96 SGD 9.70 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 7
67. CAPITALAND MALL TRUST Upper Middle 1 .9Lower BOLLINGER BANDS SGD SGD SGD DMI Recent Signal Signal Change 1.97 1.94 1.92 BUY SGD1.97 SIMPLE MOVING AVERAGES SGD 1.95 SGD 1.95 SGD 1.95 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 SGD0.52 0.54 0.52 0.51 10-day 30-day 50-day SELL Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES SGD 0.52 SGD 0.53 SGD 0.53 DAILY MACD SELL
68. 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 31-Mar Lower Mid Upper 14d 3,175.11 1.87 3,181.61 3,171.49 3,107.19 3,147.01 3,186.84 60.04 3.92 19.40 9.72 22.11 64.25 3.53 7.69 3.63 1.02 6.94 7.70 10.07 2.31 0.19 10.20 42.00 3.55 43.86 0.39 3.73 1.92 1.97 3.18 1.92 2.56 2.88 3.69 0.52 1.13 (0.01) 0.10 0.01 0.09 (0.15) (0.02) 0.06 0.00 0.00 0.05 (0.06) (0.10) (0.03) 0.00 (0.02) (0.47) (0.03) (0.53) 0.00 (0.03) 0.02 0.01 (0.01) 0.01 (0.03) (0.01) 0.01 0.00 0.00 3.92 19.40 9.75 22.12 64.90 3.57 7.78 3.68 1.03 6.97 7.77 10.17 2.34 0.20 10.23 42.30 3.60 44.58 0.39 3.78 1.92 1.98 3.21 1.94 2.59 2.89 3.70 0.53 1.15 3.90 19.30 9.65 22.05 64.19 3.53 7.57 3.62 1.01 6.92 7.68 10.04 2.31 0.19 10.12 41.59 3.54 43.86 0.39 3.73 1.91 1.96 3.16 1.91 2.56 2.86 3.67 0.52 1.13 3.87 18.63 9.43 21.29 64.23 3.49 6.75 3.57 0.97 6.59 7.39 9.86 1.96 0.18 9.61 37.85 3.44 43.18 0.37 3.60 1.84 1.92 3.08 1.80 2.46 2.82 3.65 0.51 1.09 3.93 19.04 9.59 21.71 65.68 3.57 7.20 3.66 1.00 6.85 7.58 10.01 2.18 0.20 10.21 40.35 3.53 44.42 0.38 3.68 1.92 1.94 3.19 1.90 2.53 2.87 3.68 0.52 1.12 4.00 19.46 9.75 22.13 67.14 3.65 7.65 3.76 1.02 7.11 7.77 10.17 2.39 0.23 10.81 42.85 3.62 45.65 0.39 3.76 2.00 1.97 3.30 2.00 2.59 2.92 3.72 0.54 1.16 48.90 63.46 61.16 66.25 45.59 40.78 77.42 51.06 60.96 57.40 58.76 54.67 67.75 44.68 54.80 61.24 53.18 49.46 47.48 59.35 45.20 59.01 50.00 62.86 57.65 51.32 55.35 44.81 61.99 Moving Averages 10d 30d 50d DI + 3,152.99 3,136.49 3,107.65 33.69 DI 20.96 ADX 22.29 3.92 18.98 9.61 21.83 65.83 3.54 7.37 3.67 1.00 6.84 7.63 10.07 2.26 0.19 10.32 41.18 3.57 44.57 0.38 3.69 1.89 1.95 3.16 1.88 2.53 2.88 3.68 0.52 1.12 18.34 24.09 18.58 13.51 26.32 24.13 8.02 20.47 11.43 20.97 15.99 16.56 12.38 24.53 19.54 14.13 15.11 22.70 16.89 13.82 21.53 9.93 19.85 16.94 16.25 20.13 9.96 20.99 12.53 13.12 15.47 12.63 27.39 22.42 25.30 39.41 26.67 20.55 23.91 17.18 13.29 33.17 22.09 38.94 34.50 31.95 10.34 22.64 25.12 32.71 14.72 17.52 35.35 14.09 9.62 25.15 10.87 42.43 3.94 18.96 9.57 21.66 65.00 3.62 7.08 3.64 0.99 6.87 7.57 9.98 2.15 0.21 9.96 39.72 3.51 43.69 0.38 3.68 1.97 1.95 3.21 1.85 2.50 2.86 3.69 0.53 1.07 3.92 18.86 9.54 21.33 63.98 3.74 6.97 3.53 0.98 6.65 7.56 9.95 2.14 0.20 9.70 39.01 3.50 42.98 0.40 3.55 1.99 1.95 3.19 1.71 2.48 2.88 3.64 0.53 0.98 17.55 33.92 26.02 29.92 18.40 18.29 40.01 21.45 22.85 33.84 30.64 19.60 42.30 17.22 29.84 33.81 24.09 24.02 15.53 30.24 14.97 16.32 25.38 37.51 24.30 18.06 12.59 17.65 29.50 DMI Diff 12.73 MACD Line Signal Diff 17.78 17.55 0.224 DMI MACD DMI MACD Recent Signal Signal Change BUY BUY - BUY (0.78) 9.84 7.44 16.41 (7.92) (5.83) 31.98 0.98 11.41 12.86 14.65 3.03 29.92 (7.31) 10.29 19.68 8.97 1.31 (1.36) 16.42 (6.56) 6.39 5.54 20.57 8.06 (2.07) 2.63 (3.34) 16.97 0.00 0.10 0.04 0.18 0.40 -0.05 0.18 0.03 0.01 0.06 0.05 0.05 0.06 -0.01 0.19 1.00 0.02 0.41 0.00 0.04 -0.03 0.00 -0.01 0.04 0.02 0.01 0.01 0.00 0.04 SELL BUY BUY BUY SELL SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY SELL BUY SELL BUY BUY BUY BUY SELL BUY SELL BUY 0.00 0.08 0.03 0.16 0.70 -0.05 0.13 0.05 0.01 0.06 0.03 0.04 0.04 0.00 0.24 0.78 0.02 0.57 -0.01 0.04 -0.04 0.00 -0.01 0.05 0.02 0.00 0.02 0.00 0.05 (0.005) 0.027 0.011 0.019 (0.302) 0.005 0.047 (0.017) 0.002 (0.005) 0.019 0.011 0.021 (0.001) (0.049) 0.220 0.004 (0.160) 0.002 (0.001) 0.004 0.004 (0.003) (0.012) 0.005 0.003 (0.005) (0.000) (0.008) SELL SELL BUY BUY BUY SELL BUY BUY SELL BUY SELL BUY BUY BUY SELL SELL BUY BUY SELL BUY SELL BUY BUY SELL SELL BUY BUY 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
69. 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 EPS ($) PER(x) Div Yield(%) 52week Price % Chg Stock Name Close Target % upside Price 2017 2018 2017 2018 2017 2018 High Low YTD 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 3.92 4.25 8% 0.2 0.3 16.1 15.2 4.5 4.7 4.36 3.59 7.40 19.40 19.44 0% 1.789 1.963 10.8 9.9 3.2 3.3 19.40 14.63 11.88 9.72 9.57 -2% 0.9 0.9 11.3 10.4 3.8 4.0 9.78 8.21 8.97 22.11 21.18 -4% 1.9 2.1 11.4 10.7 3.3 3.4 22.12 17.41 8.38 64.25 63.99 0.00 4.1 4.4 15.8 14.8 2.4 2.6 67.27 52.42 16.29 3.53 3.80 7% 0.2 0.2 12.8 12.0 2.0 2.2 4.00 2.96 -1.67 7.69 7.38 -4% 0.4 0.4 19.6 18.9 2.5 2.6 7.78 5.77 21.48 3.63 4.05 10% 0.2 0.2 17.6 18.0 2.8 2.9 3.79 2.85 20.20 1.02 1.06 4% 0.0 0.0 29.1 26.2 2.8 2.9 1.04 0.69 12.71 6.94 6.89 -1% 0.5 0.5 13.7 12.6 3.1 3.4 7.23 5.10 19.86 7.70 7.90 3% 0.3 0.4 23.1 21.3 3.8 4.1 8.05 6.96 7.54 10.07 9.71 -4% 0.4 0.4 22.6 23.1 3.5 2.7 11.67 9.60 4.14 2.31 2.19 -6% 0.1 0.1 30.0 30.4 1.9 1.9 2.41 1.92 10.53 0.19 0.22 0.12 0.0 0.0 9.3 6.3 0.0 0.0 0.36 0.11 14.12 10.20 10.78 5% 0.6 0.7 15.9 14.8 1.5 1.5 10.65 7.86 23.19 42.00 40.36 -4% 2.7 2.9 15.4 14.4 0.8 0.8 43.78 27.35 26.51 3.55 3.19 -11% 0.2 0.2 23.2 23.2 4.8 4.6 4.13 3.45 0.57 43.86 49.97 12% 2.1 2.3 14.7 13.4 1.8 2.0 46.23 31.60 6.38 0.39 0.38 0% 0.0 0.0 17.2 14.5 1.8 1.8 0.45 0.33 -10.47 3.73 3.62 -3% 0.2 0.2 21.6 20.6 4.1 4.3 3.78 3.01 15.48 1.92 1.99 4% 0.1 0.1 14.4 14.4 2.3 2.4 2.17 1.58 -2.54 1.97 2.13 7% 0.1 0.1 17.3 16.8 5.6 5.6 2.25 1.87 4.51 3.18 3.52 10% 0.2 0.3 13.2 11.0 2.9 3.3 3.38 2.44 11.58 1.92 1.65 -16% 0.1 0.1 36.8 27.4 1.4 1.7 2.09 1.22 38.77 2.56 2.94 13% 0.2 0.2 16.3 15.7 4.3 4.7 3.02 2.37 3.64 2.88 2.64 -9% 0.2 0.2 17.9 18.7 5.6 5.5 3.97 2.73 2.49 3.69 3.55 -4% 0.2 0.2 24.0 23.8 4.1 4.0 3.91 3.35 9.50 0.52 0.58 10% 436 583 11.4 8.5 12418 18132 0.62 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 YZJSGD SP YZJ Note : The above data based on Bloomberg consensus. Page 5 of 7
70. Daily Money Flow of Technical Stock Picks Singapore THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY * Chartist: Stephen Soo Tel: +603-2167 9607 27-Mar 28-Mar 29-Mar 30-Mar 31-Mar Total 5D MF (A) Prv. Chg (B) Cur. Chg FSSTI (5.9) (4.2) (8.5) (14.4) (14.4) (47.4) (5.9) 0.0 3,126.9 3,157.8 1 SINGTEL (1.2) 0.5 (0.1) (3.5) 2.0 1.2 (1.9) (0.7) (1.2) (0.3) (2.9) 0.4 (0.3) (7.2) 1.7 0.0 (0.4) 0.1 (0.8) 1.9 1.9 (2.3) (0.1) (0.0) (2.2) 1.5 2.2 0.0 0.0 0.0 3.92 19.02 9.62 (1.0) 0.9 (0.7) 0.6 (4.0) 0.7 0.1 3.88 18.70 9.57 (2.3) 0.1 (0.8) (0.1) (2.9) 0.4 1.9 0.5 0.1 (0.9) (0.1) 0.6 (1.7) (0.3) (0.4) (2.4) 0.7 (2.0) 0.1 0.0 0.0 0.0 0.0 21.87 66.45 3.52 7.28 (2.2) 0.2 (0.5) (0.2) (3.4) (2.5) 2.2 (0.5) 21.76 65.60 3.49 7.20 (0.1) (0.4) 0.4 (0.2) (2.3) (0.1) (0.0) 0.6 (0.0) 0.0 (0.7) (0.5) (0.4) (0.0) 0.4 (1.0) (1.8) 0.5 (0.3) (0.4) 0.0 0.0 0.0 0.0 3.66 1.01 6.86 7.71 0.1 (0.0) 0.1 (0.5) (3.5) (1.6) (1.3) (0.7) 3.64 1.00 6.78 7.56 0.1 0.1 (0.5) (0.4) (1.7) (0.3) (0.4) (0.4) 0.5 (1.0) 0.8 (1.2) (1.7) (1.7) (0.0) 1.1 (0.5) (1.7) 0.0 0.0 0.0 0.0 10.12 2.33 0.19 10.33 0.6 (0.9) (0.3) (0.0) (0.4) (3.3) (1.0) 10.01 2.35 0.19 10.28 0.4 (0.9) (0.3) (0.0) 0.4 (1.0) (1.2) (1.6) (0.4) 0.0 0.0 0.7 (1.2) (0.0) (0.3) (0.7) (2.5) 2.2 0.0 0.0 0.0 42.21 3.57 44.29 (0.6) 0.0 0.6 (0.6) (6.1) (3.2) (0.7) 40.50 3.54 44.12 0.2 0.1 (0.0) 0.4 (1.7) (1.7) 0.7 (0.7) (0.2) (0.1) (0.5) (0.4) (0.3) (1.0) 0.1 (0.8) (0.1) (0.4) 0.3 0.0 0.0 0.0 0.0 0.38 3.73 1.89 1.96 0.1 (0.0) (0.4) (0.0) (2.7) 0.5 (0.8) (1.5) 0.38 3.66 1.87 1.95 0.0 0.2 (0.3) (0.3) (1.2) (0.0) (0.3) (0.4) (0.0) (0.0) (0.8) 0.0 (0.0) (1.0) (0.0) (1.0) 0.6 0.1 0.0 0.0 0.0 0.0 3.15 1.87 2.56 2.90 0.0 (0.1) 0.7 (0.6) (2.9) (0.7) 0.0 3.13 1.85 2.49 2.86 0.0 0.0 (0.3) (0.3) (1.0) 0.1 0.0 (0.0) (1.0) (0.1) (2.3) (0.0) (0.2) 0.0 0.0 3.67 0.52 1.12 3.68 0.52 1.13 No Name 2 DBS 3 OCBC 4 UOB 5 6 7 8 JARDINE M. WILMAR HK LAND CAPLAND 9 10 11 12 GENSP KEPPEL SGX SIA 13 14 15 16 FNN NOBLE CITY DEV JARDINE S. 17 SG PRESS 18 JARDINE C&C 19 GOLDEN AGRI 20 21 22 23 SG TECH OLAM INT CAP TRUST SEMBCORP 24 25 26 27 SEMCORP M. CMFT DELGRO STARHUB SIA ENG 28 IFOOD AGRI 29 YZJ Total Money Flow (SGD' mn) stsoo@ta.com.my www.taonline.com.my CLOSING PRICE 27-Mar 28-Mar 29-Mar 3,184.6 30-Mar 3,173.2 31-Mar (A+B) DMF Chg 3,175.1 3.93 3.92 3.92 19.29 9.72 22.00 19.40 9.72 22.11 19.40 9.72 22.11 66.11 3.58 7.65 3.68 64.25 3.53 7.69 3.63 64.25 3.53 7.69 3.63 1.02 6.97 7.77 10.19 1.02 6.94 7.70 10.07 1.02 6.94 7.70 10.07 2.34 0.19 10.35 43.63 2.31 0.19 10.20 42.00 2.31 0.19 10.20 42.00 3.60 44.87 0.38 3.55 43.86 0.39 3.55 43.86 0.39 3.74 1.90 1.97 3.17 3.73 1.92 1.97 3.18 3.73 1.92 1.97 3.18 1.87 2.60 2.91 3.69 1.92 2.56 2.88 3.69 1.92 2.56 2.88 3.69 0.52 1.14 0.52 1.13 0.52 1.13 1.87 OUT 0.00 IN 0.00 OUT 0.00 IN 0.00 IN 0.00 OUT 0.00 IN 0.00 OUT 0.00 IN 0.00 OUT 0.00 IN 0.00 OUT 0.00 OUT 0.00 OUT 0.00 IN 0.00 OUT 0.00 OUT 0.00 OUT 0.00 OUT 0.00 IN 0.00 OUT 0.00 OUT 0.00 OUT 0.00 IN 0.00 OUT 0.00 OUT 0.00 IN 0.00 IN 0.00 OUT 0.00 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
71. 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 S'PORE EXCHANGE UOB WILMAR INT'L Total funds invested * Total unrealised profit Return REC BUY 31-Mar-17 Date Price Price 3.63 21-Apr 3.17 3.63 7-Oct 2.95 3.63 8-Jul 3.52 3.63 19-Jan 3.12 10.20 30-Aug 8.62 10.20 15-Dec 7.03 10.20 7-Mar 9.63 2.56 14-Jun 2.65 1.97 5-Jan 1.93 19.40 20-Oct 15.08 19.40 21-Jul 16.23 1.02 25-Feb 0.74 0.39 1-Mar 0.38 7.69 17-Mar 6.10 7.69 22-Sep 6.82 7.69 8-Dec 6.47 42.00 27-Oct 34.55 0.19 14-Feb 0.20 9.72 12-Oct 8.66 9.72 15-Nov 8.72 3.18 24-Feb 3.36 3.69 28-Jun 3.66 3.92 9-Sep 4.06 3.92 9-Sep 3.65 3.92 12-Jan 3.79 10.07 4-Feb 10.92 10.07 27-Aug 9.85 10.07 2-Jul 10.75 10.07 10-Nov 9.82 7.70 4-Nov 7.04 7.70 29-Mar 7.71 22.11 13-May 17.64 3.53 28-Jul 3.08 Change (+/-) 0.46 0.68 0.11 0.51 1.58 3.17 0.57 (0.09) 0.04 4.32 3.17 0.29 0.01 1.59 0.87 1.22 7.45 (0.00) 1.06 1.00 (0.18) 0.03 (0.14) 0.27 0.13 (0.85) 0.22 (0.68) 0.25 0.66 (0.01) 4.47 0.45 241,892 32,617 13.48% Upside Targets pct ST MT LT 14.51 3.80 4.05 4.21 23.05 3.80 4.05 4.21 3.13 3.80 4.05 4.21 16.35 3.80 4.05 4.21 18.33 10.75 11.75 12.36 45.09 10.75 11.75 12.36 5.92 10.75 11.75 12.36 (3.40) 2.64 2.97 3.27 2.07 2.10 2.17 2.28 28.65 20.37 22.09 23.16 19.53 20.37 22.09 23.16 38.78 1.04 1.12 1.18 1.32 0.40 0.47 0.53 26.07 8.03 8.80 9.56 12.76 8.03 8.80 9.56 18.86 8.03 8.80 9.56 21.56 44.06 45.67 47.27 (1.52) 0.20 0.24 0.27 12.24 10.09 10.92 11.74 11.47 10.09 10.92 11.74 (5.36) 3.32 3.52 3.84 0.82 3.81 4.00 4.18 (3.45) 4.11 4.28 4.57 7.40 4.11 4.28 4.57 3.43 4.11 4.28 4.57 (7.78) 10.35 10.84 11.23 2.23 10.35 10.84 11.23 (6.33) 10.35 10.84 11.23 2.55 10.35 10.84 11.23 9.38 7.94 8.23 8.80 (0.13) 7.94 8.23 8.80 25.34 22.87 24.75 26.62 14.61 3.70 4.00 4.36 ST 4.68 4.68 4.68 4.68 5.39 5.39 5.39 3.13 6.60 5.00 5.00 1.96 3.90 4.42 4.42 4.42 4.90 3.09 3.81 3.81 4.40 3.25 4.85 4.85 4.85 2.78 2.78 2.78 2.78 3.12 3.12 3.44 4.82 % Upside MT 11.57 11.57 11.57 11.57 15.20 15.20 15.20 16.02 10.15 13.87 13.87 9.80 22.08 14.43 14.43 14.43 8.74 23.71 12.35 12.35 10.69 8.40 9.18 9.18 9.18 7.65 7.65 7.65 7.65 6.88 6.88 11.94 13.31 LT 15.98 15.98 15.98 15.98 21.18 21.18 21.18 27.73 15.74 19.38 19.38 15.69 37.66 24.32 24.32 24.32 12.55 39.18 20.78 20.78 20.75 13.28 16.58 16.58 16.58 11.52 11.52 11.52 11.52 14.29 14.29 20.40 23.51 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
72. TA Securities T e c h n i c a l V i e w Monday , April 03, 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 USD176.86 182.12 178.50 174.89 SELL SELL SIMPLE MOVING AVERAGES USD 177.13 USD 178.56 USD 173.16 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day JPMORGAN CHASE ZZXX Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS USD USD USD DMI www.taonline.com.my 93.37 89.75 86.13 SELL USD87.84 SIMPLE MOVING AVERAGES USD 88.07 USD 90.28 USD 88.80 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 1 of 7
73. PFIZER INC Upper Middle Lower BOLLINGER BANDS USD USD USD DMI Recent Signal Signal Change USD34 .21 34.59 34.24 33.89 BUY SIMPLE MOVING AVERAGES USD 34.26 USD 34.19 USD 33.33 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 USD34.52 34.67 34.00 33.33 BUY SIMPLE MOVING AVERAGES USD 34.14 USD 33.94 USD 34.58 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 7
74. CITIGROUP INC Upper Middle Lower BOLLINGER BANDS USD USD USD DMI Recent Signal Signal Change USD59 .82 62.53 59.96 57.39 SELL SIMPLE MOVING AVERAGES USD 58.90 USD 60.13 USD 59.05 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 USD107.83 110.24 105.80 101.36 BUY 10-day 30-day 50-day Recent Signal Signal Change Page 3 of 7 SIMPLE MOVING AVERAGES USD 107.86 USD 104.84 USD 103.46 DAILY MACD BUY
75. 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 31-Mar 20,663.22 -65.27 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 174.14 191.33 107.37 92.76 129.61 112.21 176.86 82.01 124.55 89.85 42.44 72.08 120.54 80.33 229.72 87.84 79.11 63.54 113.39 48.75 146.83 164.01 41.55 65.86 33.80 36.07 34.21 29.80 55.73 88.87 62.43 23.59 34.52 59.82 57.07 42.84 55.66 142.05 143.66 107.83 0.28 0.05 -0.41 -0.46 0.29 -0.24 -1.12 -1.69 -0.11 -0.35 -0.16 0.49 -0.49 -1.31 -1.50 -1.19 -0.10 0.09 0.21 -0.31 -0.12 -0.98 -0.21 0.15 0.06 0.32 -0.14 -0.07 -0.31 -0.14 -0.14 -0.28 0.00 -0.69 0.04 -0.59 -0.58 -0.36 -0.27 -1.02 High Low Mid 20,790.30 RSI Moving Averages Upper 14d 10d 21,051.64 48.14 20679.20 30d 20,811.82 DMI 50d DI + DI - ADX 20,532.55 26.99 25.08 23.61 Diff 1.91 MACD Line Signal 12.38 52.72 DMI Diff Recent Signal (40.338) BUY MACD 20,722.59 Bollinger Bands Lower 20,660.68 20,528.96 174.95 192.40 108.14 93.24 130.19 112.62 178.02 83.25 124.82 90.33 42.65 72.56 120.99 81.48 230.80 88.73 79.42 63.63 113.71 49.10 147.18 165.10 41.89 66.19 33.88 36.25 34.38 30.04 56.03 89.35 62.84 23.97 34.53 60.51 57.22 43.25 56.18 142.63 144.27 109.12 173.71 190.99 107.05 92.18 129.30 111.86 176.83 81.86 124.05 89.84 42.43 71.23 120.17 80.32 228.73 87.75 78.80 63.26 112.97 48.75 146.65 163.75 41.55 65.46 33.66 35.75 34.17 29.74 55.65 88.87 62.25 23.59 34.33 59.79 56.59 42.67 55.62 141.89 143.01 107.78 175.97 191.00 108.65 93.00 128.58 112.26 178.50 81.88 126.07 90.75 42.22 70.25 121.86 80.61 239.86 89.75 78.84 64.30 111.95 49.57 147.34 167.52 41.96 64.91 34.06 35.46 34.24 29.74 56.65 89.23 62.44 24.31 34.00 59.96 55.82 44.49 57.28 139.75 140.78 105.80 180.20 193.17 111.93 95.47 129.86 113.32 182.12 83.10 129.08 91.65 42.60 71.50 123.45 82.24 258.68 93.37 80.27 66.36 113.53 50.47 148.90 172.33 42.71 65.76 34.39 36.05 34.59 30.13 58.68 90.30 64.17 26.26 34.67 62.53 58.15 48.15 60.26 142.79 144.27 110.24 177.54 189.64 109.72 94.28 128.40 112.37 178.56 81.89 124.66 90.88 42.10 70.51 122.17 80.10 243.46 90.28 79.28 64.82 111.41 49.67 146.78 166.30 41.94 64.74 34.10 35.72 34.19 29.88 56.93 88.89 62.89 24.48 33.94 60.13 54.82 45.08 57.66 138.42 139.70 104.84 177.24 184.82 111.15 94.92 126.55 111.62 173.16 82.62 120.43 89.69 41.81 69.21 120.67 78.62 241.57 88.80 78.62 64.22 110.63 49.46 143.45 164.39 41.73 64.44 32.98 36.08 33.33 29.91 55.78 87.17 63.71 23.98 34.58 59.05 54.17 44.66 57.19 135.85 134.87 103.46 (6.85) 8.88 (8.64) (5.30) 13.95 2.05 (0.38) 10.65 1.72 1.10 12.16 16.89 (3.92) 5.05 (16.71) (7.63) 1.06 (5.01) 16.71 (13.74) 10.00 (2.48) (4.92) 11.28 (0.24) 5.96 0.07 2.59 (1.77) 10.94 (3.02) (7.31) 7.38 (0.84) 11.44 (14.19) (7.37) 22.80 17.10 15.88 -1.03 1.63 -1.17 -0.66 0.76 0.12 0.80 -0.13 1.10 0.16 0.19 0.39 -0.12 0.68 -4.72 -0.47 -0.08 -0.36 0.76 -0.17 0.93 -0.17 -0.06 0.35 0.18 -0.09 0.19 -0.10 -0.01 0.47 -0.55 -0.26 -0.04 -0.10 0.83 -0.77 -0.56 1.88 2.37 1.71 (0.271) (0.489) 0.059 0.085 (0.054) (0.074) (0.646) 0.185 (0.674) (0.234) 0.004 0.131 (0.296) (0.095) (1.375) (0.294) (0.021) (0.128) 0.050 (0.105) (0.428) (0.755) (0.089) 0.082 (0.140) 0.109 (0.069) 0.033 (0.202) (0.224) 0.094 (0.124) 0.119 (0.031) 0.077 (0.210) (0.238) 0.017 (0.056) 0.126 SELL SELL BUY BUY SELL SELL SELL BUY SELL SELL BUY BUY SELL SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL BUY SELL BUY SELL BUY SELL SELL BUY SELL BUY SELL BUY SELL SELL BUY SELL BUY 171.74 188.83 105.37 90.54 127.31 111.21 174.89 80.66 123.07 89.85 41.85 69.01 120.26 78.98 221.04 86.13 77.41 62.23 110.37 48.68 145.78 162.71 41.22 64.05 33.73 34.87 33.89 29.35 54.61 88.16 60.70 22.36 33.33 57.39 53.49 40.82 54.31 136.71 137.30 101.36 41.25 61.34 40.81 46.47 65.62 50.58 51.00 48.68 51.80 43.23 57.27 67.44 44.14 51.58 35.24 42.24 52.90 42.39 65.68 37.76 54.14 43.43 45.04 64.33 51.70 57.65 54.44 49.39 46.24 53.86 47.55 44.08 55.15 51.50 63.86 40.87 40.56 70.72 71.44 59.76 174.32 191.57 107.66 92.79 129.15 112.25 177.13 81.95 125.85 90.66 42.36 70.40 121.31 80.69 231.07 88.07 78.29 63.51 112.54 49.48 147.24 165.54 41.73 65.15 33.96 35.47 34.26 29.64 56.33 88.89 61.72 23.39 34.14 58.90 56.53 42.76 55.88 140.71 142.07 107.68 19.52 25.33 18.68 20.53 21.84 19.95 23.38 27.40 20.04 18.79 26.42 28.63 14.76 24.63 18.02 21.23 22.03 16.83 27.72 15.01 21.78 19.71 15.58 24.07 19.11 24.18 17.91 22.75 25.08 24.79 22.80 23.47 34.30 23.92 29.97 20.49 20.73 32.23 30.89 30.72 26.37 16.45 27.32 25.82 7.89 17.90 23.76 16.75 18.32 17.69 14.26 11.74 18.68 19.58 34.73 28.86 20.97 21.84 11.01 28.75 11.78 22.18 20.50 12.79 19.35 18.22 17.84 20.15 26.85 13.86 25.82 30.78 26.93 24.76 18.54 34.68 28.10 9.42 13.80 14.84 22.26 32.02 21.33 16.55 40.45 8.43 22.33 14.42 38.86 23.41 21.79 16.71 12.14 28.40 27.96 24.24 18.40 20.01 30.91 17.36 45.24 15.37 16.85 23.60 27.38 16.04 16.36 13.54 17.51 36.31 21.12 28.24 12.30 19.17 23.83 24.79 23.81 55.94 53.91 35.91 -0.76 2.12 -1.23 -0.74 0.82 0.19 1.45 -0.31 1.77 0.39 0.18 0.26 0.18 0.78 -3.34 -0.17 -0.06 -0.23 0.71 -0.07 1.36 0.59 0.03 0.27 0.32 -0.20 0.26 -0.13 0.19 0.69 -0.65 -0.13 -0.15 -0.07 0.75 -0.55 -0.32 1.87 2.43 1.58 SELL BUY SELL SELL BUY BUY SELL BUY BUY BUY BUY BUY SELL BUY SELL SELL BUY SELL BUY SELL BUY SELL SELL BUY SELL BUY BUY BUY SELL BUY SELL SELL BUY SELL BUY SELL SELL BUY BUY BUY DMI MACD Signal Change 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
76. 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 EPS ($) PER(x) Close Target Price % upside 174.14 172.89 191.33 192.20 107.37 127.08 16% 4.55 5.98 23.6 17.9 92.76 98.50 6% 3.12 4.36 29.7 21.3 129.61 133.50 3% 6.15 6.63 21.1 19.6 112.21 118.85 6% 6.55 7.00 17.1 16.0 176.86 178.27 1% 9.31 10.15 19.0 17.4 82.01 88.20 7% 4.01 4.71 20.4 17.4 124.55 128.00 3% 7.03 7.39 17.7 16.8 89.85 91.79 2% 3.85 4.12 23.3 42.44 43.56 3% 1.87 1.95 22.7 72.08 75.25 4% 4.32 4.54 120.54 122.06 1% 9.51 10.03 2017 2018 Div Yield(%) 2017 2018 52week Price High Low % Chg YTD 2017 2018 -1% 13.78 14.13 12.6 12.3 3.3 3.5 182.78 142.50 4.91 0% 8.62 9.39 22.2 20.4 2.5 2.7 193.49 163.17 7.15 4.0 4.2 119.00 92.44 -8.78 3.3 3.4 99.45 69.04 0.02 2.9 3.1 131.96 110.33 6.48 2.5 2.6 114.41 96.90 2.36 3.2 3.5 185.67 122.35 13.60 3.8 3.9 95.52 80.31 -9.14 2.7 2.9 129.00 107.70 8.11 21.8 3.0 3.2 92.00 79.10 6.86 21.8 3.5 3.7 47.12 39.88 2.36 16.7 15.9 2.9 3.0 75.01 62.72 4.28 12.7 12.0 2.3 2.5 125.49 103.89 -1.54 80.33 86.57 7% 3.68 4.02 21.8 20.0 2.0 2.1 82.37 61.12 9.44 229.72 251.74 9% 19.18 21.66 12.0 10.6 1.2 1.3 255.10 138.20 -4.06 87.84 91.79 4% 6.57 7.55 13.4 11.6 2.3 2.6 93.98 57.05 1.80 79.11 80.83 2% 5.66 6.27 14.0 12.6 1.7 1.8 82.00 57.16 6.79 63.54 69.41 8% 3.80 4.19 16.7 15.2 3.0 3.0 66.80 52.46 7.93 113.39 118.37 4% 5.95 6.73 19.1 16.8 1.4 1.5 113.71 90.32 8.80 48.75 53.37 9% 3.85 3.98 12.7 12.3 4.8 4.9 56.94 46.01 -8.67 146.83 156.42 6% 7.19 8.14 20.4 18.0 2.4 2.7 150.15 119.20 9.51 164.01 185.72 12% 9.51 10.59 17.3 15.5 1.5 1.6 172.14 125.26 2.48 41.55 43.68 5% 2.95 3.08 14.1 13.5 4.7 4.8 43.89 36.10 -2.30 65.86 68.83 4% 2.96 3.26 22.3 20.2 2.3 2.5 66.19 48.04 5.99 33.80 35.54 5% 2.38 2.50 14.2 13.5 3.2 3.5 34.53 25.81 11.85 36.07 40.10 10% 2.80 2.95 12.9 12.2 3.0 3.1 38.45 29.51 -0.55 34.21 37.68 9% 2.56 2.79 13.4 12.3 3.7 4.3 37.39 29.41 5.33 29.80 33.53 11% 1.62 1.89 18.3 15.8 3.2 3.3 33.00 28.19 -5.70 55.73 62.71 11% 2.41 2.59 23.1 21.6 1.3 1.4 61.85 49.01 9.64 88.87 97.93 9% 3.31 3.87 26.8 23.0 0.7 1.0 92.05 73.25 13.91 62.43 69.38 10% 4.86 5.96 12.8 10.5 2.2 2.4 67.47 48.41 -4.41 23.59 25.36 7% 1.74 2.10 13.6 11.2 1.6 2.3 25.80 12.05 6.74 34.52 38.08 9% 2.20 2.73 15.7 12.6 6.8 7.0 38.68 28.67 -7.65 59.82 64.29 7% 5.19 5.88 11.5 10.2 1.3 1.9 62.53 38.31 0.66 57.07 62.46 9% 2.55 2.74 22.4 20.8 5.1 5.3 63.38 41.45 6.85 42.84 48.00 11% 3.40 3.87 12.6 11.1 2.1 2.5 47.33 23.11 1.40 55.66 59.27 6% 4.19 4.59 13.3 12.1 2.8 3.0 59.99 43.55 1.00 142.05 158.55 10% 5.43 6.75 26.2 21.1 0.0 0.0 142.95 106.31 23.47 143.66 151.58 5% 8.96 10.15 16.0 14.2 1.6 1.8 144.50 89.47 24.04 107.83 127.01 15% 23.88 29.77 31.1 24.9 0.0 0.0 110.45 73.30 22.80 Note : The above data is based on Bloomberg consensus. Page 5 of 7
77. 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 27-Mar Total Money Flow (USD' mn) 28-Mar 29-Mar 30-Mar DOW JONES (593.1) (714.7) (958.8) 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 (121.3) (75.0) (30.3) (11.8) 38.2 32.3 146.6 73.5 106.7 (289.1) 43.7 26.5 (16.5) (31.4) (11.0) (101.5) (1.0) (82.9) 70.6 46.8 (47.5) 3.3 (4.9) 14.7 (82.8) (7.8) (60.5) 72.5 23.8 59.0 (40.8) (79.7) 1.0 (56.3) 3.2 13.2 (78.2) 10.0 (27.2) (121.2) (94.9) (77.8) 59.4 12.3 (0.2) 22.4 55.8 (101.5) 78.9 (108.5) (12.3) (3.8) 24.6 4.6 101.5 155.4 (27.1) (43.4) (48.4) (54.5) 59.3 (258.4) 30.2 35.8 11.9 5.1 (98.3) 92.4 3.3 116.6 (34.5) (57.5) 0.0 (86.5) 5.2 18.0 (77.4) (2.3) (440.4) 20.2 (93.0) (38.0) 0.0 (19.9) 0.0 (19.5) 0.0 (48.7) (48.7) 0.0 57.3 (5.3) (19.6) (29.6) (30.2) 63.0 (12.5) 42.3 0.0 (111.0) (66.4) (44.7) (35.9) (84.0) (34.1) 12.6 (23.2) 28.4 0.0 (38.2) 4.2 (7.1) (2.7) 0.0 (5.2) 16.0 (80.3) (37.6) (211.4) (35.8) Name stsoo@ta.com.my 2208.0 31-Mar 2208.0 Total 5D MF 2149.4 (A) Prv. Chg 3166.8 (B) Cur. Chg 0.0 (199.4) (15.7) 211.5 39.0 (10.4) 58.0 92.7 1135.9 180.9 (2.3) 108.0 24.8 41.8 (25.8) 92.8 (276.3) 134.2 53.5 106.9 (53.8) 114.8 (50.7) 49.9 195.3 (19.9) (43.0) 164.9 472.7 28.2 (74.7) (11.6) (89.3) (0.8) 109.5 2.9 20.7 79.5 (119.4) (302.6) (14.9) (199.4) (15.7) 211.5 39.0 (10.4) 58.0 92.7 1135.9 180.9 (2.3) 108.0 24.8 41.8 (25.8) 92.8 (276.3) 134.2 53.5 106.9 (53.8) 114.8 (50.7) 49.9 195.3 (19.9) (43.0) 164.9 472.7 28.2 (74.7) (11.6) (89.3) (0.8) 109.5 2.9 20.7 79.5 (119.4) (302.6) (14.9) (707.9) (222.1) 452.1 58.5 17.1 151.2 387.9 2195.1 498.7 (402.1) 304.8 67.0 72.2 (107.9) 245.9 (435.7) 227.7 23.0 236.0 (226.4) 175.0 (401.3) 89.1 357.2 (144.8) (76.1) 147.7 1138.8 83.5 (11.9) (94.2) (322.9) (3.2) 76.2 8.9 88.7 (76.9) (268.7) (1284.1) (166.7) (106.4) 22.3 211.5 58.9 (10.4) 77.5 92.7 1184.6 229.6 (2.3) 50.7 30.1 61.4 3.8 123.0 (339.3) 146.7 11.1 106.9 57.2 181.3 (6.0) 85.8 279.3 14.2 (55.7) 188.1 444.3 28.2 (36.5) (15.8) (82.1) 2.0 109.5 8.1 4.7 159.8 (81.8) (91.2) 20.9 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 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27-Mar 28-Mar www.taonline.com.my CLOSING PRICE 29-Mar 30-Mar 20,551.0 20,701.5 20,659.3 20,728.5 31-Mar 20,663.2 173.77 190.43 106.28 91.51 129.49 111.83 176.10 81.25 125.80 90.49 42.32 69.66 121.01 80.58 225.48 87.24 77.60 63.19 112.38 49.14 146.87 164.60 41.49 65.10 33.99 35.39 34.18 29.44 55.93 88.95 60.93 23.03 33.75 58.33 56.63 41.58 55.39 140.32 140.88 108.08 174.51 190.99 107.17 92.95 129.45 112.74 177.36 81.84 125.66 90.76 42.43 70.32 121.80 81.84 229.33 88.60 78.64 63.34 113.05 49.30 147.20 165.35 41.56 65.29 34.02 35.60 34.16 29.62 56.62 89.12 61.86 23.48 33.92 59.42 56.93 42.49 55.96 141.76 143.80 107.80 173.94 190.68 108.07 92.86 128.84 112.06 177.63 82.02 124.92 90.60 42.42 70.74 120.53 81.87 228.45 88.27 78.25 63.64 112.53 49.13 147.04 163.44 41.45 65.47 33.74 35.57 34.33 29.68 56.68 89.18 61.77 23.35 34.43 59.39 57.25 42.80 55.67 142.65 144.12 109.51 174.14 191.33 107.37 92.76 129.61 112.21 176.86 82.01 124.55 89.85 42.44 72.08 120.54 80.33 229.72 87.84 79.11 63.54 113.39 48.75 146.83 164.01 41.55 65.86 33.80 36.07 34.21 29.80 55.73 88.87 62.43 23.59 34.52 59.82 57.07 42.84 55.66 142.05 143.66 107.83 174.14 191.33 107.37 92.76 129.61 112.21 176.86 82.01 124.55 89.85 42.44 72.08 120.54 80.33 229.72 87.84 79.11 63.54 113.39 48.75 146.83 164.01 41.55 65.86 33.80 36.07 34.21 29.80 55.73 88.87 62.43 23.59 34.52 59.82 57.07 42.84 55.66 142.05 143.66 107.83 (A+B) Chg DMF (65.27) IN 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 OUT IN IN IN OUT IN IN IN IN OUT IN IN IN IN IN OUT IN IN IN IN IN OUT IN IN IN OUT IN IN IN OUT OUT OUT IN IN IN IN IN OUT OUT 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
78. 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 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 28-Mar 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 34.18 75.13 47.65 49.49 48.55 67.20 68.87 60.03 94.38 92.91 45.40 1-Apr-17 Price 107.83 107.83 107.83 107.83 107.83 79.11 143.66 143.66 143.66 23.59 176.86 34.52 34.52 34.52 107.37 107.37 59.82 59.82 59.82 59.82 59.82 42.44 42.44 80.33 82.01 142.05 142.05 142.05 142.05 29.80 29.80 146.83 124.55 124.55 87.84 57.07 57.07 57.07 63.54 63.54 63.54 63.54 63.54 65.86 55.73 55.73 34.21 34.21 34.21 34.21 89.85 48.75 48.75 48.75 88.87 72.08 72.08 113.39 113.39 55.66 Change (+/-) 9.32 39.02 46.92 17.43 0.58 12.33 27.36 45.84 37.95 0.64 55.30 4.57 1.00 1.21 8.26 18.55 10.27 13.23 16.66 19.32 2.43 (2.88) 0.69 26.94 (0.76) 22.68 48.04 51.95 18.87 (0.49) 5.03 35.86 5.42 12.79 18.71 12.12 2.81 5.09 11.06 12.56 4.82 4.11 0.04 1.63 3.84 2.08 0.57 2.03 1.78 0.03 14.72 1.10 (0.74) 0.20 21.67 3.21 12.05 19.01 20.48 10.26 pct ST 9.46 56.71 77.03 19.28 0.54 18.46 23.53 46.86 35.90 2.79 45.49 15.26 2.98 3.63 8.33 20.88 20.73 28.40 38.60 47.70 4.23 (6.35) 1.65 50.46 (0.92) 19.00 51.10 57.66 15.32 (1.62) 20.31 32.32 4.55 11.44 27.06 26.96 5.18 9.79 21.07 24.64 8.21 6.92 0.06 2.54 7.40 3.88 1.69 6.31 5.49 0.09 19.59 2.31 (1.50) 0.41 32.25 4.66 20.07 20.14 22.04 22.60 110.45 110.45 110.45 110.45 110.45 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 88.70 155.59 155.59 155.59 155.59 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 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 119.21 119.21 119.21 119.21 119.21 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 95.55 163.41 163.41 163.41 163.41 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 37.39 100.70 56.95 56.95 56.95 95.94 79.64 79.64 135.35 135.35 64.52 124.64 124.64 124.64 124.64 124.64 105.09 165.68 165.68 165.68 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 91.34 102.39 169.74 169.74 169.74 169.74 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 39.54 104.91 61.40 61.40 61.40 98.77 82.40 82.40 138.71 138.71 66.31 ST 2.43 2.43 2.43 2.43 2.43 6.37 5.99 5.99 5.99 4.96 5.18 2.52 2.52 2.52 11.42 11.42 5.12 5.12 5.12 5.12 5.12 1.53 1.53 4.02 8.16 9.53 9.53 9.53 9.53 10.74 10.74 2.19 8.07 8.07 6.99 5.13 5.13 5.13 10.36 10.36 10.36 10.36 10.36 0.08 8.00 8.00 2.98 2.98 2.98 2.98 4.50 7.67 7.67 7.67 4.77 4.31 4.31 7.66 7.66 11.95 % Upside MT 10.55 10.55 10.55 10.55 10.55 19.61 11.15 11.15 11.15 9.37 10.78 8.26 8.26 8.26 25.83 25.83 12.86 12.86 12.86 12.86 12.86 5.16 5.16 9.37 16.51 15.04 15.04 15.04 15.04 21.51 21.51 6.85 12.31 12.31 18.12 11.58 11.58 11.58 14.90 14.90 14.90 14.90 14.90 9.46 13.49 13.49 9.30 9.30 9.30 9.30 12.08 16.82 16.82 16.82 7.96 10.49 10.49 19.37 19.37 15.92 LT 15.59 15.59 15.59 15.59 15.59 32.84 15.33 15.33 15.33 24.16 15.32 15.35 15.35 15.35 40.23 40.23 18.62 18.62 18.62 18.62 18.62 11.05 11.05 13.71 24.85 19.49 19.49 19.49 19.49 28.19 28.19 10.61 15.74 15.74 25.02 22.83 22.83 22.83 18.57 18.57 18.57 18.57 18.57 15.26 22.38 22.38 15.58 15.58 15.58 15.58 16.76 25.95 25.95 25.95 11.14 14.32 14.32 22.33 22.33 19.13 VISA INC* = Share price adjusted for 1-to-4 stock split on 19/03/2015. Total funds invested * Total unrealised profit Return 3,982,950 797,570 20.02% 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 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