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PatrickTheBull

Author: Patrick TheBull   |   Latest post: Mon, 25 Nov 2019, 10:32 AM

 

Construction Sectors - Big project going to announce soon?

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Its been quite a long time i didn't put my eyes on the construction sectors due to many reasons. First, infrastructure project was either cut or downsize by the government. Second, construction profit margin was super thin. Third, uncollectable in account receivable. If you have any friends or family members are into construction related business, they should be aware of this issue and they are getting even harder to collect back their money this year. In fact, there are still many fundamental reasons that made me refuse to invest or trade construction stocks.


Today, I think I detect the "goreng" smell from Ekovest and Iwcity (probably not me only, Hahaha). Not sure whether is it because of Bandar Malaysia project to be announced soon. Hopefully, it is, by this week. Just to share my views on construction sectors after checking its chart just now. The weekly construction indices had formed a triple white soldiers with a recovered RSI and MACD golden crossover. With current construction sentiments, I am recommending some of the stocks which I think can perform well in these few weeks. By the way, do note that, this weeks and following weeks will have more companies release their quarterly results and I believe most of the construction counters will release a "boom" result. Hence, trade wisely if the companies i mentioned haven't release their QR.


* All figures are referring to weekly chart, but commentary will be based on daily chart

1. Ekovest

- breakout from 7-months downtrend

- today volume was 4x of 50-days average volume

- BB at upper band (2days), OBV is at uptrend, RSI at 72.61 and MACD shown lower golder cross (11 days)

- QR have not yet release

2. Iwcity

- Testing to breakout soon

- volume was weak

- BB at upperband (2 days), OBV at uptrend, RSI at 66.20 and MACD shown lower golden cross (1 days)

- QR have not yet release

3. JAKS

- Strong bull

- The resistance at 1.43, support at 1.28-1.29 and 1.16-1.17.

- i believe the price will rest awhile before shoot up to 1.67 (261.8% extension)

- QR have not yet release (but expect to be better than preceding quarter of Q3 FY18)

4. Hohup

- Inverted head and shoulder

- price is resting between 48-53sen, once break 53sen will test 60sen and 69sen

- OBV is at uptrend, BB at upper band (2 days), RSI at 58.86, MACD shown upper dead cross (6 days)

- QR have not yet release

5. Mudajaya

- Bear to Bull, Flag breakout?

- Recently,  Taiwanese businessman Jerry Kuo Jen Hao had emerged as new major shareholder

- BB at upper band (17 days), OBV at uptrend, MACD shown upper dead cross (1 days)

- QR have not yet release

6. KSSC

- breakout from 4-months downtrend

- QR had released just now, and personally i think its a good result. Finally after 2 previous losses, they manage to record profit again. Currently, they are trading at a big discount to its NTA and the recent pullback made this stock very attractive in pricing for buyers. 

- waiting for more momentum kick in, and i believe the price will test 59sen again.

- BB at upperband (2 days), OBV at uptrend, RSI at 81.45 and MACD shown upper golden cross (23 days).


Disclaimers: This is not a buy call or sell call, please do your own due diligence before performing any decision. Feel free to drop me a message at patrick.thebull6@gmail.com.

I will start a non-paid telegram channel very soon. I will update every few days or weeks here and there. I emphasis on quality rather than quantity. Thanks for all the support from you guys! 

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