KUALA LUMPUR (Dec 5): CIMB Equities Research has a technical buy on My EG Services at 66.5 sen at which it is trading at a price-to-book value of 3.8 times.
It said on Monday that My EG Services has been trading sideways for the past few weeks but we think it is ripe for a stronger rebound.
“If the candles can continue to hold above the 30-day and 50-day SMAs, there is a good chance that prices may re-rate towards 70.5 sen and 73 sen,” it said.
CIMB Research said the improving technical landscape further reinforces our positive stance on the stock. MACD signal line has staged a positive crossover while RSI has also hooked upward.
“Aggressive traders may start to nibble now. Always put a stop at below 62.5 sen 60 sen,” it said.
It said on Monday that My EG Services has been trading sideways for the past few weeks but we think it is ripe for a stronger rebound.
“If the candles can continue to hold above the 30-day and 50-day SMAs, there is a good chance that prices may re-rate towards 70.5 sen and 73 sen,” it said.
CIMB Research said the improving technical landscape further reinforces our positive stance on the stock. MACD signal line has staged a positive crossover while RSI has also hooked upward.
“Aggressive traders may start to nibble now. Always put a stop at below 62.5 sen 60 sen,” it said.
