Thursday, January 12, 2012


Ezion: CIMB has Technical Buy Call. Note that prices broke out of its bullish flag pattern on strong volume yesterday. This indicates that buying interest has emerged. If right, the next upswing is going to lift prices towards $0.76 and $0.81 next.

Technical landscape remains positive. MACD histogram bars have returned to the black while RSI is also rising. With the candles also trading above all its key moving averages, think the stock could still push on higher from here. Risk takers may start to nibble now but be quick to cut loss if the $0.685 support is breached. A break below the S$0.63 low would suggest that the uptrend from its Oct11 low is likely over.

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