KUALA LUMPUR (Dec 1): CIMB Equities Research has a technical buy on LBS Bina Group at 81.5 sen, at which it is trading at a price-to-book value of 0.7 times.
It said on Thursday that LBS Bina Group is challenging the downward slopping resistance channel.
“If prices can swing above the 83 sen level, there is a good chance that the stock may re-rate towards the next resistance at 87 sen. Thereafter, prices should edge closer towards the July’s high of 955 sen,” it said.
CIMB Research said the technical indicators remain compelling. MACD is hovering in the positive territory while RSI is above the 50 pts mark.
“Only risk takers should look at this stock as prices could still trend sideways. Be quick to cut loss if the 77 sen level is breached,” it said.
It said on Thursday that LBS Bina Group is challenging the downward slopping resistance channel.
“If prices can swing above the 83 sen level, there is a good chance that the stock may re-rate towards the next resistance at 87 sen. Thereafter, prices should edge closer towards the July’s high of 955 sen,” it said.
CIMB Research said the technical indicators remain compelling. MACD is hovering in the positive territory while RSI is above the 50 pts mark.
“Only risk takers should look at this stock as prices could still trend sideways. Be quick to cut loss if the 77 sen level is breached,” it said.
