KUALA LUMPUR (Jan 25): OSK Retail Research is eyeing 31 sen as the initial upside target for iDimension, a break above which might see the price testing the 34.5 sen level.
It said on Wednesday that its cut-loss level was pegged at below 28 sen.
OSK Research said prior to last Friday, iDimension was consolidating the strong rebound recorded on Jan 5, 2012.
After consolidating its gains for 10 trading days, the stock finally cracked above the 26 sen to 28 sen consolidation phase last Friday in a breakout that was accompanied by strong volume.
“The price action basically suggests that iDimension’s consolidation phase has come to an end and that its share price should resume on the rebound that started since December last year.
“Hence, we advise traders to accumulate the shares at the current level. We are eyeing 31 sen as the initial upside target, a break above which might see the price testing the 34.5 sen level. Our cut-loss level is pegged at below 28 sen,” it said.
It said on Wednesday that its cut-loss level was pegged at below 28 sen.
OSK Research said prior to last Friday, iDimension was consolidating the strong rebound recorded on Jan 5, 2012.
After consolidating its gains for 10 trading days, the stock finally cracked above the 26 sen to 28 sen consolidation phase last Friday in a breakout that was accompanied by strong volume.
“The price action basically suggests that iDimension’s consolidation phase has come to an end and that its share price should resume on the rebound that started since December last year.
“Hence, we advise traders to accumulate the shares at the current level. We are eyeing 31 sen as the initial upside target, a break above which might see the price testing the 34.5 sen level. Our cut-loss level is pegged at below 28 sen,” it said.
