Highlights / Stock Picks of the Day - TH Heavy Engineering Berhad ("TH Hea

In the past year, TH Heavy had been among the favourite trading stocks from a fundamental as well as a technical standpoint. The muchanticipated upliftment of the PN17 status came through just two weeks ago, and to top it off, the group announced that it had an order book of RM170m as at 1 October. Much of the hype has since tapered off, what with the share price 21% off its recent high to end at 50 sen on Monday. The share price has now come close to the upwards sloping trend line at 48 sen, and we reckon the recent move is merely a pullback correction in an overall uptrend. Having said that, the indicators have yet to show signs of a bullish reversal, though traders should keep a keen eye on this stock should the situation change.

Source: Kenanga