**** Broke Temp Support: Yongnam. Share price 0.335. (Short term downside possible before rebound)

Yongnam has broken down immediate support level at 0.34 which was holding for more than 2 weeks. Can head lower to 0.32 then 0.300 level on further market weakness. Accumulate on dips near 0.30 to 0.32 for longer term investors who believe in the Myanmar growth story. Short term traders can consider riding the short term down tick USING CFD and cover near lower support levels.

 

DBSV – 17^TH JUNE 2013

Go for high conviction growth and value stocks. As
macro recovery remains modest, pick stocks where
earnings growth is highly visible and sustainable:Ezion
(TP S$3.00) will continue to outperform on secured
contracts and its unique market positioning; Tat Hong
(TP: S$1.80) is positioned to benefit from the regional
infrastructure boom; Del Monte (TP: S$0.97) is a proxy
to Philippines, SEA’s 2nd largest consumer market.
Kreuz (TP: S$0.78) is our top pick in the O&G services
sector for its proven execution track record while Midas
(TP: S$0.60) is poised for earnings recovery backed by its
growing order book. For value, Vard (TP: S$1.46) is a
bargain at 6.3x FY14PE vs normalized 10x PE.

Situational plays. Myanmar is a unique theme which
has been running independent of world economics for
some time now. We believe the Myanmar theme will
continue as reforms continue to attract FDIs. Results of
telecom license and Yangon Airport development
contracts are imminent events. Picks are Yoma (TP:
S$1.08) and Yongnam (TP: S$0.41).