Magna Prima (RM0.965; Not Rated; MAGNA MK)
Next leg up
• Niche property developer with RM1b worth of launches in Klang Valley over next two years
• Strong earnings growth, but cash flow management and cost control will be crucial
• RM1.30 TP based on small-cap 40% discount to RNAV of RM2.17 (RM1.52 excl. Lai Meng high-end condos)
source: HwangDBS Vicker Research
Chart wise : Volume expanded …………… 
above: magna chart (click to enlarge)
Magna (7617) had on 24/3/2010 traded higher with a day high of RM1.04 before settled at RM1.02.
Next Potential Upside Target : An upside violation of RM1.05 would likely see Magna to trade upward with next upside target at RM1.20.
Entry Level : Risk taking traders may establish buying position at RM0.99.
Stop Loss Level : Once a buying position is being established, a stop loss level at RM0.93 level must be placed for risk capital protection purpose followed by trailing stop loss strategy.
source: Mercury Securities Research
