Based on the adjusted price because of its recent Rights issue, StarHill had retreated to a low of around $0.45 from the recent high of $0.60 before edging up to current price of $0.545. On the chart, this looks like a Wave 3 in the making so we are of the view that StarHill could trend higher especially if the general markets continue their upswing.
1st level target can be set at $0.60.
2nd level target can be set at $0.70.
Cut Loss: if it drops below 0.49
Risk Profile: Medium
52wk Range : 0.38 - 1.11
Fundamentally, it is trading at fair valuation based on our opinion. NAV is around 0.64. Yield is around 6% at current valuations.
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