KUALA LUMPUR (Jan 26): CIMB Research has technical buy on Ramunia Holdings at 38.5 sen at which it is trading at a price-to-book value of 1.5 times.
It said on Thursday that Ramunia broke out of its consolidation triangle pattern recently.
“It appears that the stock is ripe for a stronger rebound. If the candles can continue to hold above its 50-day SMA, the next upswing is likely to push prices towards 42 sen and 45 sen,” it said.
CIMB Research said the 200-day SMA is also a magnet for prices. It added the technical landscape is improving. MACD signal line has returned to the black while RSI is also above the 50pts mark.
“Aggressive traders may start to nibble now before the next upleg kicks in. Always place a stop at below 36 sen to limit downside risk,” it said.
It said on Thursday that Ramunia broke out of its consolidation triangle pattern recently.
“It appears that the stock is ripe for a stronger rebound. If the candles can continue to hold above its 50-day SMA, the next upswing is likely to push prices towards 42 sen and 45 sen,” it said.
CIMB Research said the 200-day SMA is also a magnet for prices. It added the technical landscape is improving. MACD signal line has returned to the black while RSI is also above the 50pts mark.
“Aggressive traders may start to nibble now before the next upleg kicks in. Always place a stop at below 36 sen to limit downside risk,” it said.
