KUALA LUMPUR: CIMB Retail Research has a Buy on PERISAI PETROLEUM TEKNOLOGI [] at 83 sen, which means it is trading at FY12P/E of 8.6 times, P/BV: 2.4 times.
It said on Thursday, April 14 that despite its technical buy rating on April 7, Perisai continued to consolidate sideways.
'At this juncture, we are still keeping to our short term bullish stance on the stock unless prices breached its recent low of 80 sen,' it said.
CIMB Research said the MACD has turned negative but RSI is above the 50pts mark. Its is not overly concerned about its recent pullback as this is likely to be short term.
'Once the candles swing above its downward slopping resistance trend line (now at 86.5 sen), the next upside targets are 89.5 sen and 93 sen. Be quick to cut loss once 80 sen is violated,' it said.
It said on Thursday, April 14 that despite its technical buy rating on April 7, Perisai continued to consolidate sideways.
'At this juncture, we are still keeping to our short term bullish stance on the stock unless prices breached its recent low of 80 sen,' it said.
CIMB Research said the MACD has turned negative but RSI is above the 50pts mark. Its is not overly concerned about its recent pullback as this is likely to be short term.
'Once the candles swing above its downward slopping resistance trend line (now at 86.5 sen), the next upside targets are 89.5 sen and 93 sen. Be quick to cut loss once 80 sen is violated,' it said.
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