KUALA LUMPUR: CIMB Retail Research has a Buy on TANCO HOLDINGS BHD [] at 32 sen, where it is trading a price to book value of 0.6 times.
It said on Tuesday, April 26 that Tanco appears to be forming a triangle, which means that prices could continue sideways for a while longer. The stock is now holding just above this triangle support at RM0.315.
'Its MACD is flat, marginally below the zero line while its RSI also held above the 40-pts mark. The base building for its indicators bode well for the stock,' it said.
CIMB Research said the stock is a buy now with a stop placed below 29 sen. A breakout above 35 sen would lift prices towards 45 sen to 46.5 sen and 50 sen to 52 sen next.
Tanco operates in property development and investment, hotel, vacation ownership interval and schemes, golf club, marina club, travel and tour agent, and resort. Tanco also provides CONSTRUCTION [] and money lending services.
It said on Tuesday, April 26 that Tanco appears to be forming a triangle, which means that prices could continue sideways for a while longer. The stock is now holding just above this triangle support at RM0.315.
'Its MACD is flat, marginally below the zero line while its RSI also held above the 40-pts mark. The base building for its indicators bode well for the stock,' it said.
CIMB Research said the stock is a buy now with a stop placed below 29 sen. A breakout above 35 sen would lift prices towards 45 sen to 46.5 sen and 50 sen to 52 sen next.
Tanco operates in property development and investment, hotel, vacation ownership interval and schemes, golf club, marina club, travel and tour agent, and resort. Tanco also provides CONSTRUCTION [] and money lending services.
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