Currently stock is trading just above its pivot region. Can expect a little downside correction to the 1.40 level due to some profit booking scenario, After which an bounce back can be expected. So going forward can be a good stock to have if sustains above its pivot region , as can expect it to test its immediate resistance in near term.
In spite of some changes in country’s taxation policy regulations and recovery of debt to its associate company, MYEG provided satisfactory results in the FY2018. On exclusion of this one-off factor, company would have recorded profit of RM277.77 million in FY2018. Company’s last quarterly result have also improved; still Profit after tax has remained at slow pace with the potential to increase going ahead. Technical indicators are currently signaling a consolidation with a uptrend nearby; So keeping a mid to Long term view in prospect, stock have the potential to grow in near future.