Malton- poised for its next upleg

Last Thursday, Malton broke above its recent high of RM0.96 & hit a high of RM1.00 before retreating. Today, it is attempting the RM1.00 again. If it can surpass this mark, this stock can continue with its cautious uptrend.


 
Chart: Malton's weekly chart as at Oct 21, 2013_3.15pm (Source: Quickcharts)

The current rise in the stock coincided with a research report from RHB Investment Bank which valued the stock at RM1.80. The report highlighted an active pipeline of launches such as the Pavillion 2 project with GDV of RM3.88 billion in Bukit Jalil; RM3.88-billion joint venture in Batu Kawan, Penang for a 300-acre leasehold development; a RM480 million project on 200 acres of land in Pengerang, Johor; and a commercial redevelopment worth RM2-3 billion in Pusat Bandar Damansara. Other smaller projects are located in Pantai Dalam, Jalan Ipoh, Ukay Spring and Seri Kembangan. For more, go here & here.

Based on technical consideration, Malton could be a good stock for a trading BUY.

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Malton.