CIMB Research has Buy on Sapura Resources at RM1.18
Page 1 of 1
CIMB Research has Buy on Sapura Resources at RM1.18
KUALA LUMPUR: CIMB Equities Research has a technical Buy on Sapura Resources at RM1.18 at which it is trading at a price-to-book value of 0.5 times.
It said on Friday, July 8 that Sapura Resources after breaking out of its triangle pattern, the share price is building a base above its 200-day SMA.
“We see this as a prelude to more upside ahead. The next upswing to test the RM1.25 and RM1.38 resistances,” it added.
CIMB Research said the MACD histogram bars continue to gain strength, suggesting that there is more room to the upside. RSI too is rising.
“As long as prices stay above the 200-day SMA (now at RM1.08), we would continue to stick with the bull’s camp. Only a fall below RM1.06 would trigger our stop,” it said.
It said on Friday, July 8 that Sapura Resources after breaking out of its triangle pattern, the share price is building a base above its 200-day SMA.
“We see this as a prelude to more upside ahead. The next upswing to test the RM1.25 and RM1.38 resistances,” it added.
CIMB Research said the MACD histogram bars continue to gain strength, suggesting that there is more room to the upside. RSI too is rising.
“As long as prices stay above the 200-day SMA (now at RM1.08), we would continue to stick with the bull’s camp. Only a fall below RM1.06 would trigger our stop,” it said.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics
» CIMB Research has Sell on Jaks Resources
» Stocks With Momentum Borneo Oil, DPS Resources, Sapura Resources, XOX, Ajiya, Quality Concrete
» Stocks With Momentum DPS Resources, Seacera, Can-One, Sapura Resources, Instacom
» CIMB Research maintains Add on QL Resources, raises target price to RM3.72
» Jan20-Companies in the news Guinness Anchor, Favelle Favco, Yong Tai, Sapura Resources, BTM Resources, Lay Hong, MQ Tech, Cybertowers and Scan
» Stocks With Momentum Borneo Oil, DPS Resources, Sapura Resources, XOX, Ajiya, Quality Concrete
» Stocks With Momentum DPS Resources, Seacera, Can-One, Sapura Resources, Instacom
» CIMB Research maintains Add on QL Resources, raises target price to RM3.72
» Jan20-Companies in the news Guinness Anchor, Favelle Favco, Yong Tai, Sapura Resources, BTM Resources, Lay Hong, MQ Tech, Cybertowers and Scan
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum