KUALA LUMPUR: CIMB Equities Research has a BUY on UEM LAND HOLDINGS BHD [] at RM2.78 where it is trading at FY12P/E of 34.8 times and price-to-book value of 3.8 times.
It said on Tuesday, April 26 that UEM Land continued on its triangle consolidation pattern on Monday. Prices are still holding above its key support trend line at RM2.55.
'Technical landscape remains compelling for the launch of its next run with its MACD and RSI turning upwards again.
'We reckon that the stock is a good buy here with a stop placed below RM2.58. One can also place a stop below RM2.62, depending on one's risk tolerance. A breakout above RM2.95 could see prices rally towards RM3.40 again.
It said on Tuesday, April 26 that UEM Land continued on its triangle consolidation pattern on Monday. Prices are still holding above its key support trend line at RM2.55.
'Technical landscape remains compelling for the launch of its next run with its MACD and RSI turning upwards again.
'We reckon that the stock is a good buy here with a stop placed below RM2.58. One can also place a stop below RM2.62, depending on one's risk tolerance. A breakout above RM2.95 could see prices rally towards RM3.40 again.
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