Likely to test immediate resistance at 0.575 first. If manage to cross above this possible to head to 0.600 critically. A break above 0.600 will be a confirmation for more upside to the 0.65 level. Top 10 Volume seen currently. Has cross above the 20 DAY MA line last week and also just broke above the 200 DAY MA line yesterday, a potential reversal play back up as long as support at 0.55 holds now.
Stop loss at 0.545
CIMB � 29 AUGUST 2013
Changes in excise tax law
|
�We understand that there will be changes to the alcoholic excise tax policy motivated by the government's desire to prevent importers from understating cost. There is little clarity at this stage but we do not think that Spirits margins will be adversely affected. In fact, Spirits volume may benefit. There has been no official statement yet but we do not think that these changes will be detrimental to spirits margin. There are no changes to our FY13-15 EPS estimates and SOP-based target price for now. We keep our Outperform call and expect re-rating catalysts from further corporate restructuring.
|
No comments:
Post a Comment