Cosco

Cosco: CIMB have technical Buy Call. Note that the stock appears to have formed a bullish flag pattern and yesterday breakout on strong volume, suggesting that the next leg up is taking place, which will take prices to new highs, to the $2.25-2.30 levels. MACD abt to confirm its golden cross and the breakout run should continue from here, while RSI is also starting to nudge up again…

Yesterday’s gap of $2.06-2.10 is likely to provide some support for the stock. Stop loss at recent swing low of $1.97. For those who are willing to risk less, then place a stop below $2.01, the 30-day SMA.