KUALA LUMPUR (Dec 13): CIMB Equities Research has a technical buy on Landmarks at RM1.06 at which it is trading at a price-to-book value of 0.3 times.
It said on Tuesday that Landmarks' share price was still consolidating in a wedge pattern but it thinks the share price is due for a rebound soon.
“If prices can continue to hold on steady above the RM1.02 level, there is a good chance that the stock may re-rate towards RM1.12 and RM1.20 next,” it said.
CIMB Research said the technical landscape was improving. MACD signal line was poised for a positive crossover while RSI had hooked upward.
“Traders with higher risk appetite may start to nibble now while others should wait for a push above RM1.12 before going long. However, always put a stop at below RM1.00,” it said.
It said on Tuesday that Landmarks' share price was still consolidating in a wedge pattern but it thinks the share price is due for a rebound soon.
“If prices can continue to hold on steady above the RM1.02 level, there is a good chance that the stock may re-rate towards RM1.12 and RM1.20 next,” it said.
CIMB Research said the technical landscape was improving. MACD signal line was poised for a positive crossover while RSI had hooked upward.
“Traders with higher risk appetite may start to nibble now while others should wait for a push above RM1.12 before going long. However, always put a stop at below RM1.00,” it said.
