CIMB Research has technical sell on DRB-Hicom

KUALA LUMPUR (Nov 22): CIMB Equities Research has a technical sell on DRB-Hicom at RM2.12 at which it is trading at a FY12 price-to-earnings of 10.6 times and price-to-book value of 0.8 times.

It said on Tuesday that DRB-Hicom could potentially be forming a head & shoulders (H&S) pattern with the current rally being the right shoulder.

“It is now testing its strong support turned resistance levels of RM2.19-RM2.28. The recent reversal after touching this resistance band does not augur well for the bulls,” it said.

CIMB Research said the MACD has just issued a sell signal while its RSI has turned down after failure to breakout into overbought levels.

The research house said any more rallies into the said resistance band is a chance to sell.

“Aggressive traders should take profits now with a buy stop placed above RM2.30. Any closing below the 50-day SMA would mean that prices are likely to head back to retest the H&S neckline at RM1.70,” it said.

hmmm

HNS at 170? betul ke? dun belip

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another mulut busuk. drb launch ckd today still want sell a

betul tu ESH ; what CKD they launch today?

they must be empty on drb lol

they launch passat

fortunately didnt hold any drb bb.else kena,...