Thursday, April 19, 2012

City Dev

City Dev: Technical Sell Call by UOB Kay Hian with a 5.2% potential return and $9.90 TP. Note that the stock is also trading below its 50-day EMA and has closed a tad below the 200-day EMA. The MACD indicator has turned down and is hovering below its centreline, and could support the above view.
The alternative exit for this long position will be if the stock rises above $10.65. House institutional research has a fundamental SELL with TP of $9.20.

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