KUALA LUMPUR (Jan 5): CIMB Equities Research has a technical buy on SBC Corporation at 90.5 sen at which it is trading at a price-to-book value of 1.9 times.
It said on Thursday that SBC was trying to push above its triangle resistance. If it succeeds, there is a good chance that prices may re-rate towards 95 sen and 99.5 sen in the medium term.
“MACD signal line is slowly picking up, suggesting that buyers are slowly making a comeback. RSI too is above the 50pts mark.
“Traders should only get in when prices swing above its key moving averages at 90.5 sen to 91 sen. Be quick to cut loss if 85 sen is breached,” it said.
It said on Thursday that SBC was trying to push above its triangle resistance. If it succeeds, there is a good chance that prices may re-rate towards 95 sen and 99.5 sen in the medium term.
“MACD signal line is slowly picking up, suggesting that buyers are slowly making a comeback. RSI too is above the 50pts mark.
“Traders should only get in when prices swing above its key moving averages at 90.5 sen to 91 sen. Be quick to cut loss if 85 sen is breached,” it said.
