NOL: CIMB has Outperform rating with $2.25 TP. Expects grp to benefit from high locked-in transpacific contract rates until next yr May/June, despite the currently falling spot rates to the US, which should underpin its strong performance…..
Technically stock appears to be reaching the tail end of its consolidation and a breakout could happen soon. Prices are testing the triangle resistance at $2.07, where a breakout could see prices test $2.16 followed by $2.35. MACD & RSI appears fairly positive, hooking upwards from a neutral standpt. Any pull back would represent a good chance to accumulate. Stop loss at $1.94 (200 Day MA)
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