CMA

CMA: UOB Kay Hian has Technical Buy Call with a potential 8.6% potential return and resistance target of $1.52 TP. House note that prices have retraced towards the 200-day SMA and have closed the breakaway gap created on 8 February. The stock may rebound at this juncture, as there could be a bullish divergence formed at the MACD indicator and expect a bullish crossover at the Stochastics indicator to form. Shorts positions initiated on 3May could be taken off the table for now, returning +7.6% based on closing prices. The alternative exit for this long position will be if the stock falls below $1.35.