Muhibbah Engineering (MUHI MK) Technical BUY with +18.0% potential return Last price : RM2.58 Target Price: RM2.72, RM3.05 Support : RM2.48 Stop-loss: RM2.39 BUY with a target price of RM3.05 with a stop loss placed below RM2.39. MUHI’s share price has consolidated and moved within the RM2.23 to RM2.48 region in the last 4 months before recording a significant breakout on last Friday’s 8-sen surge on top of a higher trading volume of 8.5m shares (vs 20-day average of 1.0m). Following the closing of RM2.58, MUHI has been trading in the new territory, which was last seen on 29 Jul 13. We note the breakout was in tandem with a steady growth in momentum as the share price rose above 38.2% of Fibonacci fan line. Given the bullish development in MACD, we expect MUHI to retest the previous high of RM2.72 in the near term which, if breached, could see the stock nudge higher towards our 1.38x Fibonacci extension of RM3.05 in the medium term.
Need to monitor this share for next few days to see whether it can digest the large transaction volume from last week.. if it can digest it, up trend could be continue with support at RM 2.48
The problem is when we say the selling TP is 2.70, fund managers read this and they purposely push the price down, so that you will get caught. Thats the reason why i do not like to expose the selling target price here in the forum.
Wow...selling pressure not over yet and waiting to stable and create support before rebound again...i have closed the position at RM 2.58 as per advise from my remiser and he ask me to monitor for a while before enter the position again..
JPMorgan Chase & Co has disposed of a total of 1.976 million shares or 0.46% stake in Muhibbah Engineering (M) Bhd from Jan 16 to 28.
Filings to Bursa Malaysia on Tuesday, showed the US bank had started disposing of Muhibbah shares since Jan 16 when the share price was at a five-month high on Jan 16.
It sold 1.056 million shares on Jan 16 and 125,300 shares on Jan 20 and 131,800 units the next day. Over the next three days from Jan 22 to 24, it sold a total of 750,000 shares.
oh it rise back a little now. Now i hv to wait again for the timing to sell it ...US tapering and the figures fm US is not good...we can see money leaving the SEA countries , anyway once it has stabilise mkt will be stable back ...
So long as investors continue buying (probably due to the better than expected earnings to be released soon) and without Morgan &/or Lembaga Tabung Uji dumping their portion, crossing RM2.63 and RM2.72 is still possible.
Muhibbah Infra order book should recover in FY14. Muhibbah's outstanding order book stood at RM1.8bn at end-FY13, comprising RM719m for infra, RM1.1bn for cranes (all-time high) and RM47m for shipyard. We expect Muhibbah's shipyard orders to rise in line with the pick-up in domestic chartering contracts for O&G. We gather that the continuous construction of offshore O&G structures, particularly rigs and platforms, has created pent-up demand for vessel orders. We also expect an uptick in orders from the civil/infra segment in 2014 to comprise the bulk of the group's estimated RM4bn-5bn tender book. Our base case assumption of RM1bn new job wins in 2014 remains intact
strongly buy recommendation........my visit to the relevant sites projects of muhibah is magnificient.....the current competent management and boards are indeed good.....the prospects of future revenue is very significant.......the company could control the operating costs quite briliiantly thus improve the margin and net profit of each project.....i therefore recommend strong buy for muhibah with revised tp of rm3.74.......2014 and onwards the company will definitely captured vital contracts and projects.....accumulate and keep.....accumulate muhibah....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
robot99
243 posts
Posted by robot99 > 2014-01-17 15:50 | Report Abuse
Next week will break 2.80