Serba Dinamik Holdings Bhd ("Serbadk") is involved in integrated engineering, contracting and maintenance services. It has wide exposure in the O&G sector. Last week, it announced that it has secured a RM1 billion job in Uzbekistan to build a chlorine processing facility and a 26-MW steam turbine power plant (here). It is valued at an average target price of RM5.65 by Public, Affin, Kenanga & AMInvest.
Yesterday, Serbadk broke above the line connecting its recent highs at RM4.30. This upside breakout signaled the continuation of its prior uptrend. Based on projection, Serbadk may rise to RM5.00.
Chart: Serbadk's daily chart as at August 22, 2019_9.25am (Source: Malaysiastock.biz)