Tiger Air: CIMB has Technical Buy Call. House note that Prices formed a bullish flag pattern and prices broke out of this flag on rising volume last week. The stock remains a technical buy as house reckon that the $0.625 low is a significant trough.
MACD has turned up again but its RSI is still flat. However, the quadruple bullish divergence would keep the selling momentum in check. A breakout above $0.68 would suggest that the
strong rebound rally is underway. Stock is still a buy with a stop placed below the $0.625 low. Expect prices to take out the S$0.79 in the near term but it is more likely to continue on towards the $0.83-0.89 resistance levels as long as the $0.625 low stays intact.
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