TDM Berhad (TDM) trades palm oil and related products and operates fast-food restaurants and also provides consultancy and management services to specialist medical centres, operates in property development and develops computer systems. It trades machinery, equipment and manufactures fibreboard.
TDM made a major daily Wave 4 low of RM2.60 in October 2011, with oversold and bullish signals. Furthermore, the positive indicators of the CCI, DMI, MACD, Stochastic and Oscillator indicators are supportive of further upside. We feel that TDM will trend higher in the period mentioned above.
ACCUMULATE (TECHNICAL) on dips for TDM with its firm support areas of RM3.19 and RM3.62. The potential upside target areas are RM4.06, RM4.31 and RM5.38. Stop-loss is at RM3.17.
FBM KLCI: Key Points
- TDM – On a strong Wave 5 rise
- FBMKLCI – Mind that “gap-up”
- Obvious supports of 1,452 & 1,480
- 1,485 & 1,511 will cap the rebounds
Some trading stocks that we like are: AEONCR, AFG,
CARLSBG, HLBANK, LATEXX, MBFHLDG, MPHB,
SUPERMX, TAANN, TDM, TOPGLOV, TWS and TWSPLNT.
(Information from MBB)
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