KUALA LUMPUR: CIMB Equities Research sees an opportunity to go for a quick trading buy on Land & General Bhd.
It said on Monday, March 8 the stock rallied to a new 52-week high of 64 sen before selling pressure set in and dragged prices lower. The correction phase was a painful event as the consolidation took weeks before stabilising at around the 50% Fibonacci Retracement level.
"We think there is an opportunity to go for a quick trading buy. If prices hold above the recent low of 44 sen, there is a chance for it to test the 50-day SMA at 48.5 sen. Thereafter, it should swing towards 50 sen to 52 sen next," it said.
CIMB Research said indicators are showing signs of recovering. MACD, though still in the red, is falling at a slower pace, while its RSI has hooked upward again. Always put a stop near 44 sen in case this is a bull trap.
Land & General manages and develops PROPERTIES [] and provides education services
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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