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NewsCIMB Research has Buy on Infortech Alliance at 22 sen
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CIMB Research has Buy on Infortech Alliance at 22 sen
by hlk Tue 12 Jul 2011, 10:20
KUALA LUMPUR: CIMB Equities Research has a technical Buy call on Infortech Alliance at 22 sen at it is trading at a price-to-book value of 6.0 times.
It said on Tuesday, July 12 Infortech Alliance looks set to break above the ascending triangle pattern.
Prices manage to build a base around its key moving averages and this should provide the platform for the next upleg.
“Once the RM0.23 level is taken out, the next resistance levels are RM0.245 and RM0.26. Aggressive traders may start to nibble now ahead of the breakout. However, always place a stop at below RM0.205,” it said.
CIMB Equities Research said the technical landscape is improving. MACD is poised for a positive crossover while RSI has also hooked upwards.
Infortech Alliance provides software customisation, maintenance, and training. It also sells software hardware and accessories
It said on Tuesday, July 12 Infortech Alliance looks set to break above the ascending triangle pattern.
Prices manage to build a base around its key moving averages and this should provide the platform for the next upleg.
“Once the RM0.23 level is taken out, the next resistance levels are RM0.245 and RM0.26. Aggressive traders may start to nibble now ahead of the breakout. However, always place a stop at below RM0.205,” it said.
CIMB Equities Research said the technical landscape is improving. MACD is poised for a positive crossover while RSI has also hooked upwards.
Infortech Alliance provides software customisation, maintenance, and training. It also sells software hardware and accessories
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