• Pasukhas Group Berhad is engaged in provision of engineering solutions. The Group serves the water treatment and sewage industries, palm oil and sugar mills and refineries, and factories in the oil and gas and chemical industries.
• After tumbling from peak of RM0.285 on 22 Jan 2015 to the recent low of RM0.19, the stock is extremely oversold and likely to bottom up in immediate term. “Tweezers Bottom” candles tick pattern in the o vers old territory s ugges ted imminent technical rebound.
• Oscillator-wise, reading from daily and weekly RSI, MACD and Slow Stochastics showed that buying momentum is picking up pace in immediate term. Hence, we are looking at target prices of RM0.215 (gap between 13 & 14 Apr 2015), RM0.23 (38.2% FR) and RM0.24 (50% FR).
• However, always prepared to set cut loss if situation changes. Support at RM0.195 with cut loss below RM0.19.

Source: Hong Leong Investment Bank Research - 24 Apr 2015