KUALA LUMPUR: CIMB Retail Research said a recent rally pushed Berjaya Assets to a new 52-week high of 78 sen. ''However, buying momentum failed to follow through and there seems to be rising concern about its sustainability.
'Yesterday's pullback suggests that the uptrend is probably at its tail end. Indicators are showing some easing trends. MACD histogram bars are losing some pace here while its RSI has also hooked downward,' it said on Tuesday, Aug 17.
The research house said once the 70 sen level is breached, expect prices to fall towards 66 sen next. As long as prices stay below the 78 sen high, any rebound is an opportunity to unload on strength. Nevertheless, always put a buy stop at 80 sen, just in case.
Berjaya Assets's core activities include property management, investment and development, general trading, and providing lottery consulting services.
'Yesterday's pullback suggests that the uptrend is probably at its tail end. Indicators are showing some easing trends. MACD histogram bars are losing some pace here while its RSI has also hooked downward,' it said on Tuesday, Aug 17.
The research house said once the 70 sen level is breached, expect prices to fall towards 66 sen next. As long as prices stay below the 78 sen high, any rebound is an opportunity to unload on strength. Nevertheless, always put a buy stop at 80 sen, just in case.
Berjaya Assets's core activities include property management, investment and development, general trading, and providing lottery consulting services.
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