FABER: Technical rebound from grossly oversold position • At RM1.33, Faber is trading at 7.1x FY13 earnings and offers an attractive dividend yield of 6%, supported by netcash per share of RM0.69. Technically, Faber is grossly oversold and indicators are bottoming up, suggesting near term technical rebound. • Immediate upside target is RM1.40 (mid Bollinger band) and RM1.45 (30-d SMA). A breakout above RM1.45 will spur prices higher to RM1.51 and significant resistance of RM1.59 (200-d SMA). Supports are RM1.25-1.28. Cut loss below RM1.23.
Source: Hong Leong Investment Bank Research - 14 August 2012
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Posted by ngohieng > 2012-08-10 09:28 | Report Abuse
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