BDB (BINA DARULAMAN BHD)

Periodically,  TCB will pick a stock we may like to trade short term.  So, this week, TCB have selected the stock, BDB as our *Stock In Focus (SIF)*.  Please do not take this as a buy signal as our TA reading for these stocks are for sharing purpose only.  Do calculate your own risk/reward ratio if you decided to trade this counter. 

--Weekly Chart of BDB--

In recent weeks, BDB attracted much interest that resulted in increased trading volume. Currently, it is retesting it's resistance level at 0.96 and should enjoy immediate support at 0.82 and 0.71 respectively. It needs to take out the Gap resistance at 0.96 and 0.995/1.00, where 1.00 is also the psychological resistance price. It's current trading volume is at a good level that primes it for a rounding bottom breakout if it closes above 0.96. The mid-term target prices (TP) are 1.21 and 1.28. Stop-loss if 0.71 is violated. 

--Daily Chart of BDB--

After a drastic fall in late 2014, it hits a bottom at 0.71.  BDB is now ready to enter stage 2 when the gap of 0.96 and 0.995/1.00 is closed. It has a good support level at 0.885/0.88 and also at the next support level of 0.845. Gap resistance is at 0.96 and 0.995/1.00. If the support level at 0.885/0.88 managed to hold, it will close the gap and surge further up north in the near future. TPs are estimated to be 1.10 and 1.14. Stop-loss if 0.845 is violated. 

Key Notes

1.   BDB's latest quarterly report registered an improved financial performance. (Ref: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1885581)

2.   BDB is strengthening its property activities in Kedah via the proposed acquisition of several parcels of land to increase its land bank for property development. (http://www.bursamalaysia.com/market/listed-companies/company-announcements/1862337)