MKH Oil Palm (East Kalimantan) – Technical Buy

MKH Oil Palm (East Kalimantan) Berhad operates as a holding company, owning and operating palm oil estates. The company processes and produces crude palm oil products and kernels, serving customers in Malaysia and Indonesia.

Stock Performance: The stock rose and formed its fourth consecutive white candle, closing at its all-time high due to follow-through buying after a bullish flag breakout. With improving EMAs, further upside is expected.

Technical Indicators:

• Entry Price: RM0.62-0.64
• Support Levels: RM0.595, RM0.535
• Stop Loss: RM0.59
• Resistance Levels: RM0.675, RM0.700
• Target: RM0.675, RM0.70

The MACD has confirmed its golden cross, indicating that buyers are gaining momentum. The RSI has strengthened, suggesting rising buying momentum. Aggressive traders may consider going long here or on weakness, with a stop-loss set at RM0.59. Prices may push on to retest Fibonacci targets at RM0.675 and RM0.70.

Solarvest Holdings – Technical Buy

Solarvest Holdings Berhad operates as a holding company, providing engineering, procurement, construction, commissioning, management, and operation and maintenance services for solar projects in Malaysia.

Stock Performance: The stock closed firmly at its 2.5-month high, indicating that bulls are ready to lift prices in the short term. The higher high and higher low structure from RM1.44 suggests a new uptrend has begun.

Technical Indicators:

• Entry Price: RM1.63-1.67
• Support Levels: RM1.52, RM1.44
• Stop Loss: RM1.51
• Resistance Levels: RM1.75, RM1.83
• Target: RM1.75, RM1.83

MACD continued to climb while the RSI strengthened, indicating rising buying momentum. Aggressive traders may consider going long here or on weakness, with a stop-loss set at RM1.51. Prices may test historical resistances at RM1.75 and RM1.83 next.

Dayang Enterprise – Maintain Add with a TP of RM4.00

Dayang Enterprise Holdings Berhad (DEHB) has secured Sarawak Shell’s package for the Pan-Malaysia MCM and HUC tender, estimated to be worth around RM1bn. This win strengthens its orderbook and enhances earnings visibility, with expectations for more contract wins.

Recommendation: Reiterate Add with a GGM-based TP of RM4.00.

Unisem – Maintain Reduce with a Lower TP of RM1.60

Unisem’s earnings trend remains patchy, leading to a maintained Reduce recommendation with a lower TP of RM1.60.

Indonesia Strategy – 3Q24 Results: Slowing Growth Momentum

The 3Q24 results show a slowing growth momentum in Indonesia, impacting various sectors and companies.

Astra International – Maintain Add with a Higher TP of Rp6000

Astra International reported strong 3Q24 results across multiple segments, leading to a maintained Add recommendation with a higher TP of Rp6000.

Actively Managed Portfolio

The Actively Managed Portfolio is a medium-term investment product that recommends stocks based on technical analysis. The portfolio follows a trend-following methodology, with a maximum trading period of 1 to 6 months.

Current Portfolio:

• Karex: Entry Price: RM0.865, Current Price: RM0.855, Stop Loss: RM0.775, Target: RM0.895/0.96
• ITMAX System: Entry Price: RM3.570, Current Price: RM3.460, Stop Loss: RM3.320, Target: RM3.86/4.00
• Ta Ann Holdings: Entry Price: RM4.180, Current Price: RM4.360, Stop Loss: RM3.790, Target: RM4.38/4.51/4.73
• Binastra Corp: Entry Price: RM1.480, Current Price: RM1.470, Stop Loss: RM1.340, Target: RM1.61/1.65
• Top Glove Corp: Entry Price: RM1.050, Current Price: RM1.080, Stop Loss: RM0.960, Target: RM1.14/1.21
• PGF Capital: Entry Price: RM2.110, Current Price: RM2.220, Stop Loss: RM1.970, Target: RM2.25/2.40
• Optimax Holdings: Entry Price: RM0.695, Current Price: RM0.640, Stop Loss: RM0.630, Target: RM0.77/0.795
• Innoprise Plantations: Entry Price: RM1.570, Current Price: RM1.640, Stop Loss: RM1.480, Target: RM1.69/1.76
• AirAsia X: Entry Price: RM1.990, Current Price: RM1.910, Stop Loss: RM1.790, Target: RM2.06/2.20
• MKH Oil Palm: Entry Price: RM0.640, Current Price: RM0.640, Stop Loss: RM0.590, Target: RM0.675/0.70

Share Sales:

Profits were taken on Gamuda after the stock gapped up and surpassed the second target.

• Gamuda: Entry Price: RM8.150, Current Price: RM9.000, Stop Loss: RM7.400, Target: RM8.74/9.00

Portfolio Value: RM1,250,803.58, with a 25.1% profit/loss.

FBMKLCI Index – Technical View

The local benchmark FBMKLCI (KLCI) edged up by 4.27 points or 0.26% to end the day at 1,620.70. The broader market was mostly positive, with healthcare, financial services, and plantation sectors leading the gainers.

Technical Indicators:

• Support Levels: 1,614, 1,598
• Resistance Levels: 1,649, 1,675

Trading volume increased to 2.59 billion, while trading value rose to RM2.47 billion. Market breadth stayed positive with 512 gainers outperforming 476 decliners. The benchmark gapped up again, but a possible hanging-man candle formation may warn of slowing buying momentum.