Yongnam has been trading below the 0.33 level since NOV 2007. It has broken out of this 5 years consolidation phase today. As long as 0.32 and 0.30 stays as the new support level, it is possible to head higher target to 0.38 near term. Volume at Top 4 currently on this critical breakout which signal more interest.
Stop loss at 0.29.
UOBKH: Yongnam Holdings Ltd (YNH SP, Y02) - Technical BUY with +26.9% potential return Last price: S$0.315 Resistance: S$0.40 Support: S$0.29 BUY with a target price of S$0.40 with tight stops placed below S$0.295. The stock has been trading sideways for more than three years and has been trending above its 50day moving average after having formed a golden cross earlier. Its Stochastics indicator has hooked up and its MACD indicator looks poised to form a bullish crossover. Our retail research has a fundamental BUY with a target price of S$0.40.
ร Maybank KE: Yongnam Holdings: Positive NDR affirms our conviction BUY, TP $0.45 Our recently concluded non-deal roadshow in Singapore drew high levels of interest from institutional fund managers, with the Asian infrastructure theme of particular relevance.ร Management expects the resumption of major contract wins in the 2nd half of this year, which we think will be positive stock catalysts.ร Yongnamโs consortium is amongst the front-runners for the Myanmar airport projects. We reiterate BUY ahead of 2H13, which is shaping up to be an interesting period with major catalysts in store.
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