Penguin International

Penguin International: CIMB has Technical Buy call. Note that stock appears to have formed a bullish wedge pattern and it broke out above this consolidation pattern in Sept. Prices are not retesting theresistance turned support level of $0.115. MACD and RSI are still showing positive divergence. Recommends accumulating now with Stop Loss at $0.11, the wedge support. Tip resistance at $0.165-0.17 if the 200 day SMA at $0.135 is broken up.