KUALA LUMPUR (Feb 10): OSK Retail Research said it sees more upside for METRONIC GLOBAL BHD [] ‘s share price and it eyeing the 10 sen psychological mark as the first upside target, followed by the 11.5 sen level as the next target
“We could detect a clearer buy signal from Metronic’s weekly chart. The stock has violated the 200-week MAV line marginally yesterday, which could end the consolidation phase at below the long-term moving average line,” it said.
OSK Research said prior to Thursday’s price action, it was actually consolidating the 3.0 sen to 6.0 sen rally since mid-Nov last year.
The research house said traders could take advantage of the current situation and accumulate the shares at above the 200-week MAV line, which now lies at the 6.0 sen level.
“We are eyeing the 10 sen psychological mark as the first upside target, followed by the 11.5 sen level as the next target. Our cut-loss level is pegged at below the 200-week MAV line,” it said.
“We could detect a clearer buy signal from Metronic’s weekly chart. The stock has violated the 200-week MAV line marginally yesterday, which could end the consolidation phase at below the long-term moving average line,” it said.
OSK Research said prior to Thursday’s price action, it was actually consolidating the 3.0 sen to 6.0 sen rally since mid-Nov last year.
The research house said traders could take advantage of the current situation and accumulate the shares at above the 200-week MAV line, which now lies at the 6.0 sen level.
“We are eyeing the 10 sen psychological mark as the first upside target, followed by the 11.5 sen level as the next target. Our cut-loss level is pegged at below the 200-week MAV line,” it said.
