Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (June 29): Hong Leong IB Research said Malaysia Building Society Bhd (MBSB) is ripe for a technical rebound and said MBSB’s robust volume of 15.26 million shares yesterday and steep valuation of 0.64xP/B (68% below its nearest peer, RCECAP’s P/B of 2x and 34% discount against its historical 10-year trough of 0.98x) have priced in most of the negatives and provided sufficient margin of safety to cushion further sharp share price retracement.

In a trading idea note today, the research house said a decisive breakout above immediate resistance of 75.5 sen could take the next leg up towards 79.5 sen – 85 sen zones.

“Key supports are 68.5 sen- 70 sen. Cut loss at 66 sen,” it said.

      Print
      Text Size
      Share