KUALA LUMPUR (Feb 8): CIMB Equities Research has a technical buy on Digistar Corporation at 52 sen at which it is trading at a price-to-book value of 2.1 times.
It said on Wednesday that Digistar broke out of its consolidation triangle pattern few days ago and the stock looks set to charge towards its previous high of 53.5 sen again.
“If this level is also taken out, the following targets to beat are 56 sen and 60 sen,” it said.
CIMB Research said the MACD signal line has staged a positive crossover while RSI is also rising. Hence, the bulls seem to have the upper hand here.
“Any pullback towards 49.5 senis an opportunity to accumulate. Always put a stop at below the resistance-turned-support channel (now at 48.5 sen),” said the research house.
It said on Wednesday that Digistar broke out of its consolidation triangle pattern few days ago and the stock looks set to charge towards its previous high of 53.5 sen again.
“If this level is also taken out, the following targets to beat are 56 sen and 60 sen,” it said.
CIMB Research said the MACD signal line has staged a positive crossover while RSI is also rising. Hence, the bulls seem to have the upper hand here.
“Any pullback towards 49.5 senis an opportunity to accumulate. Always put a stop at below the resistance-turned-support channel (now at 48.5 sen),” said the research house.
