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Chin Teck Plantations Berhad shows strong short-term bullish momentum, trading near its 52-week high. Technical indicators support further gains, though the overbought RSI suggests a possible short-term pullback. Fundamentally, the stock is undervalued with strong cash reserves and steady dividends. Overall, the short-term outlook is positive, with potential upside ahead.
Chin Teck Plantations Bhd 2QFY24 net profit surged seven-fold to RM20.8mn thanks to higher palm oil production as well as lower operating and administrative expenses
Pla take note that, Chintek is a Net Cash company. Cash per share (included investment securities) is ~ RM 5.90 per share. Compared with the current price 7.7, I do think that this is good opportunity to become shareholder of this company at discount.
