KUALA LUMPUR (Feb 22): CIMB Equities Research has a technical buy on Keywest Global Telecommunicatons at 15.5 sen at which it is trading at a price-to-book value of 6.6 times.
It said on Wednesday that prices broke out of its consolidation triangle on Tuesday on rising volume.
“Prices appear to have built a base above its moving averages and the thrust from the ‘base’ means that the run is likely on firm footing,” it said.
CIMB Research said both MACD and RSI have hooked upward sharply, suggesting a pick up in momentum.
“Risk takers may choose to buy now with a stop placed below 13.5 sen. Resistance is seen around the 19 sen and 21.5 sen levels,” it said.
It said on Wednesday that prices broke out of its consolidation triangle on Tuesday on rising volume.
“Prices appear to have built a base above its moving averages and the thrust from the ‘base’ means that the run is likely on firm footing,” it said.
CIMB Research said both MACD and RSI have hooked upward sharply, suggesting a pick up in momentum.
“Risk takers may choose to buy now with a stop placed below 13.5 sen. Resistance is seen around the 19 sen and 21.5 sen levels,” it said.
