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UOB Kay Hian Research Articles

Author: UOBKayHian   |   Latest post: Thu, 18 Oct 2018, 1:08 PM

 

Traders' Corner - Pestech International (PEST MK)

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  • Technical BUY with +17.6% potential return
  • Last price: RM1.59
  • Target price: RM1.78, RM1.87
  • Support: RM1.50
  • Stop-loss: RM1.49

BUY with a target price of RM1.87 and stoploss at RM1.49. Currently, share price is consolidating within the immediate support of RM1.50 before yesterday’s positive closing above the BBI sets a new tone for the short-term outlook. We expect PEST to continue to make higher highs and higher lows towards our target. A bullish bias has been established following an uptick in the DMI and MACD.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 3 Aug 2018

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Labels: PESTECH

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