Sep 27, 2013

Trading Buy on Benalec

Benalec Holdings Bhd (stock code 5190) RM1.26 Construction Sector.

below: Benalec daily chart (click to enlarge)benalec analysis

The share price is recovering after a prolonged consolidation and it had also broken through the previous overhead resistance line. At the same time, the share price had also penetrated the key moving averages, but currently undergoing amild pullback. Current resistance is at RM1.30 and if this level is broken, the next targetis RM1.40. Its  technical  indicators  are  also  rising  in  tandem  with  the  short-term  moving  averages. Overall, the technical outlook is positive for Benalec to test higher levels over the mediumterm. A Trading Buy on Benalec is recommended as it is embarking on an uptrend.

by Mercury Securities

Benalec Holdings Berhad is principally involved in providing marine construction services and vessel chartering, marine transportation and related services.