KUALA LUMPUR (Nov 30): CIMB Equities Research has a technical buy on Digistar Corporation at 46.5 sen at which it is trading at a price-to-book value of 1.1 times.
It said on Wednesday Digistar is still consolidating in a huge triangle pattern but it thinks the stock is ripe for a stronger rebound.
“If we are right, prices should take out the 50 sen level soon. Once this level is taken out, the following resistance targets are 53.5 sen and 56.5 sen,” it said.
CIMB Research said the technical landscape remains compelling. MACD signal line is hovering in the positive territory while RSI is above the 50pts mark.
“As long as prices stay above the 45.5 sen level, we will continue to stick with the bull’s camp. Always put a stop at below 50 sen to limit downside risk,” it said.
It said on Wednesday Digistar is still consolidating in a huge triangle pattern but it thinks the stock is ripe for a stronger rebound.
“If we are right, prices should take out the 50 sen level soon. Once this level is taken out, the following resistance targets are 53.5 sen and 56.5 sen,” it said.
CIMB Research said the technical landscape remains compelling. MACD signal line is hovering in the positive territory while RSI is above the 50pts mark.
“As long as prices stay above the 45.5 sen level, we will continue to stick with the bull’s camp. Always put a stop at below 50 sen to limit downside risk,” it said.
