KUALA LUMPUR (Jan 13): CIMB Equities Research has a technical buy on Digistar Corporation at 45.5 sen at which it is trading at a price-to-book value of 1.8 times.
It said on Friday that Digistar is still consolidating in a huge triangle pattern but it thinks the stock is ripe for a breakout soon.
“If we are right, prices should take out the 50 sen level soon. Once this level is taken out, we think prices could move to new highs above the 53.5 sen high set in June 2011,” it said.
CIMB Research said the technical landscape remains compelling. MACD signal line is hovering just above its zero line while its RSI has hooked upwards from the neutral levels.
“As long as prices stay above the 42 sen levels, we will continue to stick with the bull’s camp. Keep a stop below 42 sen just in case,” it said.
It said on Friday that Digistar is still consolidating in a huge triangle pattern but it thinks the stock is ripe for a breakout soon.
“If we are right, prices should take out the 50 sen level soon. Once this level is taken out, we think prices could move to new highs above the 53.5 sen high set in June 2011,” it said.
CIMB Research said the technical landscape remains compelling. MACD signal line is hovering just above its zero line while its RSI has hooked upwards from the neutral levels.
“As long as prices stay above the 42 sen levels, we will continue to stick with the bull’s camp. Keep a stop below 42 sen just in case,” it said.
