KUALA LUMPUR (Feb 13): CIMB Equities Research has a technical buy on EA Holdings at 22.5 sen at which it is trading at a price-to-book value of 2.2 times.
The research house said on Monday EA Holdings broke out of its wedge pattern last week.
“We think it is poised for a stronger rebound. If we are right, the next upleg is going to push prices towards 24 sen and 26 sen,” it said.
CIMB Research said the MACD signal line has staged a positive crossover while its RSI has also hooked upward. The improving technical landscape bodes well for EA.
“Risk takers may start to nibble now while other should wait for a breakout above 23 sen (200-day SMA) before going long. Put a stop at below 21 sen,” it said.
The research house said on Monday EA Holdings broke out of its wedge pattern last week.
“We think it is poised for a stronger rebound. If we are right, the next upleg is going to push prices towards 24 sen and 26 sen,” it said.
CIMB Research said the MACD signal line has staged a positive crossover while its RSI has also hooked upward. The improving technical landscape bodes well for EA.
“Risk takers may start to nibble now while other should wait for a breakout above 23 sen (200-day SMA) before going long. Put a stop at below 21 sen,” it said.
