Gallant

Gallant: CIMB has Technical Buy Call. Note that Gallant continued to hold above its support trend line and 200-day SMA. See a triangle pattern forming here, and as long stock remains above $0.365, house bullish stock.

Stock also formed a bullish engulfing pattern, which could be a reversal sign. MACD is marginally below zero line while RSI is marginally above the 40-pts mark. Both indicators are neutral suggesting that prices could move sideways before attempting to push higher. Believe stock is a buy now with a stop loss at $0.365. Look for a test of $0.405 in the immediate term. A breakout above $0.44 would confirm that prices are headed to new highs above the $0.515 resistance, likely around $0.55 next.