Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


CIMB Research has technical buy on Proton at RM3.61

Bursa Community :: Community News

Go down

CIMB Research has technical buy on Proton at RM3.61 Empty CIMB Research has technical buy on Proton at RM3.61

Post by hlk Mon 05 Dec 2011, 18:57

KUALA LUMPUR (Dec 5): CIMB Equities Research has a technical buy on Proton Holdings at RM3.61 at which it is trading at a FY13 price-to-earnings of 16.4 times and price-to-book value of 0.4 times.

The research house said on Monday Proton broke out of its triangle resistance on Friday.

“The rally also lifted prices above its 200-day SMA. Looking at the chart, we think this uptrend still has legs. The next upswing is likely to push prices towards RM3.86 and RM4.00 next,” it said.

CIMB Research said the technical landscape remains compelling. MACD is hovering in the positive territory while RSI is also above the 50pts mark.

“Risk takers may take some position here. However, always put a stop at between RM3.36-RM3.23 in case this is a bull’s trap,” it said.
hlk
hlk
Moderator
Moderator

Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum