KUALA LUMPUR (Nov 29): CIMB Equities Research has a technical buy on Latexx Partners at RM1.97 at which it is trading at a FY13 price-to-earnings of 6.0 times and price-to-book value of 1.1 times.
The research house said on Tuesday the rebound from its September’s low does not look complete as prices are still holding steadily above its 30-day and 50-day SMAs.
“Looking at the chart, we think the candles are likely to edge towards the 200-day SMA soon. Once the RM2.16 level is taken out, the following resistances levels are RM2.31 and RM2.42,” it said.
CIMB Research said the indicators remain compelling. MACD signal line is hovering in the positive territory while RSI is also above the 50pts mark.
“Aggressive traders may start to nibble now. However, it is important to place a stop at below the RM1.87-RM1.80 levels, depending on one’s risk appetite,” it said.
The research house said on Tuesday the rebound from its September’s low does not look complete as prices are still holding steadily above its 30-day and 50-day SMAs.
“Looking at the chart, we think the candles are likely to edge towards the 200-day SMA soon. Once the RM2.16 level is taken out, the following resistances levels are RM2.31 and RM2.42,” it said.
CIMB Research said the indicators remain compelling. MACD signal line is hovering in the positive territory while RSI is also above the 50pts mark.
“Aggressive traders may start to nibble now. However, it is important to place a stop at below the RM1.87-RM1.80 levels, depending on one’s risk appetite,” it said.
