KUALA LUMPUR (Dec 15): CIMB Equities Research has a technical sell on TSH Resources at RM1.84 at which it is trading at a price-to-book value of 1.8 times.
The research house said on Thursday since it featured TSH Resources as a technical sell stock on 1st December, prices have fallen a tad lower. “Nevertheless, we believe this downleg is not over yet. If the previously swing low of RM1.82 is violated, there is a high possibility that prices may slip towards RM1.73 and RM1.65 next,” it said.
CIMB Research said the deteriorating technical landscape supports our short term bearish view. MACD has staged a negative crossover while RSI has hooked downward.
It said aggressive traders may start to lock in profits now. Others should wait for a fall below RM1.82 before selling. Put a buy stop at RM1.93.
The research house said on Thursday since it featured TSH Resources as a technical sell stock on 1st December, prices have fallen a tad lower. “Nevertheless, we believe this downleg is not over yet. If the previously swing low of RM1.82 is violated, there is a high possibility that prices may slip towards RM1.73 and RM1.65 next,” it said.
CIMB Research said the deteriorating technical landscape supports our short term bearish view. MACD has staged a negative crossover while RSI has hooked downward.
It said aggressive traders may start to lock in profits now. Others should wait for a fall below RM1.82 before selling. Put a buy stop at RM1.93.
