CIMB Research sees KUB Malaysia shares in recovery mode
Date:
2011-03-24
Firm:
CIMB
Stock:
Price Target:
0.885
Price Call:
BUY
Last Price:
0.72
Upside/Downside:
+0.165 (22.92%)
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.
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.
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Michael Liang
If you all think KUB belong to umno then don't buy.The share is in uptrend.Buy now at low and sell at 0.70 sen
2018-06-06 13:14