ZLBT Chats

Wednesday, April 4, 2012

ZLBT Random Stock Pick >>> PERISAI 0047

The price of PERISAI (0047) has increased by more than 4% while trading volume of the last trading day is higher than the average volume over the past 50 days. It is also observed that the MACD line is below the signal line indicating some short-term price weakness. Technical rebounds can lead to further uptrend possibilities.

Perisai need to overcome 90sen (76.4%FR) to enhance upside to the upper Bollinger band (96sen) where profit-taking resistance should be strong. Retracement support is at 82sen (61.8%FR).

We like Perisai as a small cap exposure as net profit is expected to almost triple in this FY before normalising in FY13. As it has long-term contracts for its pipe lay vessel, MOPU and about 50% its marine vessels, earnings visibility is good and stable. Besides, we do not discount the possibility of it acquiring more strategic assets to venture into marginal field activities in the near-term. 

Perisai Petroleum
Recommended BUY on weakness 
Midterm Target >>> RM1.30 

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