UOB Kay Hian Research Articles
Traders' Corner - Choo Bee Metal Industries (CBEE MK)
UOBKayHian
Publish date: Thu, 17 Aug 2017, 09:38 AM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
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All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY on breakout with +17.6% potential return
- Last price: RM2.15
- Target price: RM2.46, RM2.54
- Support: RM2.00
- Stop-loss: RM1.99
BUY on breakout with a target price of RM2.54 and stop-loss at RM1.99. Yesterday, the stock closed above the BBI line, indicating upward potential in the near term. This is consistent with the uptick in the RSI and a bullish crossover in the DMI, which suggest stronger buying momentum ahead. Moving forward, we expect CBEE will continue the bullish movement towards our targets once it penetrates the breakout level of RM2.16.
Expected Timeframe: 2 weeks to 2 months.
Source: UOB Kay Hian Research - 17 Aug 2017
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