KUALA LUMPUR: CIMB Equities Research has a Buy call on KUB Malaysia at 78 sen as the share price is in a recovery mode.

In its technical outlook on Thursday, March 24 it said KUB reached a low of 60.5 sen on March 15 and the bulls have since made a comeback.

'Currently, prices are in recovery mode. Yesterday, the candles also swung past all its key moving averages. This would likely push prices towards 82.5 sen and 88.5 sen next.

'MACD histogram bars are gaining strength while RSI is also rising. Risk takers may start to accumulate now. Only a fall below 72 sen would trigger our stop,' it said.