KUALA LUMPUR (Jan 12): CIMB Equities Research has a technical buy on Sealink International at 45 sen at which it is trading at a price-to-book value of 0.5 times.
It said on Thursday that Sealink looks set to break out of its long term downtrend channel.
“If the candles can swing above 46.5 sen and sustain above this level, we believe the bulls are ready to make a comeback. Prices would then charge towards 49 sen and 53.5 sen next,” it said.
CIMB Research said that the MACD histogram bars have returned to the black while RSI has also hooked upward.
“The improving technical landscape bodes well with our bullish stance on the stock. Risk takers may start to nibble now while other should join the bandwagon
when prices swing above the 46.5 sen level. Be quick to cut loss if the 44 sen level is breached,” it said.
It said on Thursday that Sealink looks set to break out of its long term downtrend channel.
“If the candles can swing above 46.5 sen and sustain above this level, we believe the bulls are ready to make a comeback. Prices would then charge towards 49 sen and 53.5 sen next,” it said.
CIMB Research said that the MACD histogram bars have returned to the black while RSI has also hooked upward.
“The improving technical landscape bodes well with our bullish stance on the stock. Risk takers may start to nibble now while other should join the bandwagon
when prices swing above the 46.5 sen level. Be quick to cut loss if the 44 sen level is breached,” it said.
