KUALA LUMPUR (Feb 10): CIMB Equities Research has a technical sell on Masterskill Education Group at RM1.22, at which it is trading at a FY13 price-to-earnings of 8.1 times and price-to-book value of 1.0 times.
It said on Friday Masterskill is consolidating in a triangle pattern, which is usually seen a continuation pattern.
“As the previous trend was down, we expect one more push towards RM1.15 and RM1.08 supports in the near term.
“Unless prices swing back above the RM1.26 level, we would rather stick with the bear’s camp. Hence, unload on strength looks like a good option here,” it said.
CIMB Research said the technical landscape remains lethargic. MACD signal line is flat, hovering near the zero level while RSI is slightly above the 50pts mark.
It said on Friday Masterskill is consolidating in a triangle pattern, which is usually seen a continuation pattern.
“As the previous trend was down, we expect one more push towards RM1.15 and RM1.08 supports in the near term.
“Unless prices swing back above the RM1.26 level, we would rather stick with the bear’s camp. Hence, unload on strength looks like a good option here,” it said.
CIMB Research said the technical landscape remains lethargic. MACD signal line is flat, hovering near the zero level while RSI is slightly above the 50pts mark.
