Jun[8] - Rebounding Counters

In tandem with overall market sell down, the following counters have been falling in price heavily but somehow they showed sign of hitting support or rebounding on last trading days.

<Capitaland> A hammer was seen when the counter down > 10% from its peak on last May. Current price represent >20% discount from its net tangible asset value. Further sell down shall be interpreted as more value to be hunted.

<M1> Significant buying volume on M1 could signal its downfall hitting some support for now. Market has been worrying over earning prospect of three local Telcos. During latest investor day Q&A, Singtel actually mentioned local market couldn't accommodate four telcos, so potential consolidation might take place.

<QAF> The producer of famous brand "Gardenia" has been facing severe challenge on its major business segment, primary production. Rivalea (its subsidiary, running pork production in Australia) is badly hit by oversupply in pork industry. Incidents like calling off of IPO plan, ammonia leakage in warehouse added more pressure to it. Looking at chart, price rebounded twice from 0.95 which is its net assets value. Considering its strong balance sheet, and potential business yet to announce, it deserve a place in watch-list for current price.