CWT

CWT: CIMB maintains Outperform recommendation with TP of $1.12. Note that formation of new futures and derivatives co. Straits Financial LLC could provide an entry point for grp’s foray into the global futures marketplace and is a logical extension of its commodity logistics business...

Highlights that there could be potential upstream acquisitions targets in West Africa and Indonesia, and grp appears to be actively boosting its commodities logistics services business. Cite that near term acquisitions announcements are highly likely as the freight forwarding network expansion regions coincides with potential target acquisitions areas….

Technically, price appears to be finding some support ard the 200day SMA, and a triangle pattern is forming. As long as prices stay above the $0.90, the triangle pattern is intact. A breakout above $0.98 could see prices test the $1.04 levels and $1.10. A close below $0.90 would mean that a correction is taking place.