KUALA LUMPUR: CIMB Equities Research has a technical buy on Latexx Partners at RM1.80 at which it is trading at a FY12 price-to-earnings of 5.8 times and price-to-book value of 1.5 times.
It said on Friday, Oct 28 that Latexx Partners swung above its triangle resistance on Thursday.
“We think that there is still room to the upside. If prices can continue to stay above this resistance-turned-support trend line, there is a good chance that the stock will edge closer towards RM1.90 and RM2.02,” it said.
CIMB Research said the MACD signal line has returned to the black while RSI is rising towards the upper band of the neutral zone.
“Any pullback is an opportunity to accumulate. However, always but a stop at below RM1.66-RM1.61 to limit downside risk,” it said.
It said on Friday, Oct 28 that Latexx Partners swung above its triangle resistance on Thursday.
“We think that there is still room to the upside. If prices can continue to stay above this resistance-turned-support trend line, there is a good chance that the stock will edge closer towards RM1.90 and RM2.02,” it said.
CIMB Research said the MACD signal line has returned to the black while RSI is rising towards the upper band of the neutral zone.
“Any pullback is an opportunity to accumulate. However, always but a stop at below RM1.66-RM1.61 to limit downside risk,” it said.
