Tiger: Technical Buy Call by CIMB. House note that Prices have formed a rounded bottom and have moved above its long term resistance trend line yesterday on strong volume. Still see a lot of positive at current levels. The stock remains a buy (see 4th Jan issue for our previous buy call) and those who bought earlier should up their stop from below $0.60 to below S$0.70.
The technical landscape continues to look good with its MACD just completed its rollover while its RSI is now back on an uptrend. The pick up in trading volume is also supportive of further rallies. Aggressive buyers should get in to buy now with a stop placed below $0.70. Expect prices to rally towards its 200-day SMA at $0.88 levels next. There is also a huge gap at $0.955-1.04, which would likely be the next target should prices take out $0.88.
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