Tiger Airways: CIMB has Technical Buy Call. House note that Prices formed a bullish flag pattern and prices broke out of this flag on rising volume yesterday. The stock remains a technical buy despite the recent retracement towards its MA. Continue to believe that the $.625 low will be a significant trough.
MACD is starting to turn up again and the quadruple bullish divergence is still in play, coupled with a hook up on its RSI, expect to see a big run from here. Stock is still a buy with a stop placed below the recent low of $0.65. Expect prices to take out the $0.79 in the near term but it is more likely to continue on towards the $0.83-0.89 resistance levels. In a couple of mths, think that it could even reach as high as $0.95, the downtrend channel resistance as long as the $0.625 low stays intact.
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