KUALA LUMPUR: CIMB Equities Research has a Buy on Brem Holdings at RM1.59 at which it is trading at a price-to-book value of 0.5 times.
It said on Monday, May 9 that Brem broke out of its consolidation triangle recently. Prices should continue its ascending trend in the near term. The next resistance targets are RM1.67, RM1.75 and RM1.83.
'As long as price stay above its 30-day SMA, we think the odds continue to favour the bulls. Hence, any pullback is an opportunity to accumulate. However, always place a stop at below RM1.50,' it said.
CIMB Research said the technical landscape is improving. MACD is poised for a positive crossover while its RSI is also rising.
It said on Monday, May 9 that Brem broke out of its consolidation triangle recently. Prices should continue its ascending trend in the near term. The next resistance targets are RM1.67, RM1.75 and RM1.83.
'As long as price stay above its 30-day SMA, we think the odds continue to favour the bulls. Hence, any pullback is an opportunity to accumulate. However, always place a stop at below RM1.50,' it said.
CIMB Research said the technical landscape is improving. MACD is poised for a positive crossover while its RSI is also rising.
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