Eratat Lifestyles: CIMB has Technical Buy Call. Note that stock has been trading in a sideways manner for the past 2 mths.This sideways movement shows that the bulls were building a base for the next leg higher, appearing to be a symmetrical triangle….
Highlight that yesterday’s push on strong vol suggests that the consolidation is over and a new short term rally is taking place. Technical indicators are also showing positive signals, supporting the bullish view….
Recommend investors buy now, but keep a stop below the recent swing low of $0.20, at $0.195. Near term, price could race towards the targeted levels of $0.24-0.25 next with a small chance of reaching the $0.285 levels.