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CIMB Research has technical buy on TH Plantations at RM2.19

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CIMB Research has technical buy on TH Plantations at RM2.19 Empty CIMB Research has technical buy on TH Plantations at RM2.19

Post by hlk Wed 04 Jan 2012, 19:36

KUALA LUMPUR (Jan 4): CIMB Equities Research has a technical buy on TH
PLANTATION []s at RM2.19, at which it is trading at a price-to-book
value of 1.9 times.

It said on Wednesday TH Plantations broke out of its triangle resistance on Tuesday.

'If prices can continue to hold above this level (now at RM2.17), there
is a good chance that prices may push for one more upleg, possibly
towards the RM2.28 high again. The following resistance levels are
RM2.40 and RM2.55,' it said.

CIMB Research said the MACD signal
line is poised for a positive crossover while RSI has also hooked
upward. Hence, we think the bulls have the upper hand here.

It said aggressive traders may start to nibble now. However, always put a stop at below RM2.08 to keep loss tight.
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