KUALA LUMPUR: CIMB Equities Research has a technical Buy call on Digistar Corp at 35 sen, at which it is trading at a price-to-earnings of 1.9 times.
It said on Wednesday, May 4 the recent pullback dragged Digistar to the 38.2% FR level. Since then, the bulls have come to the rescue.
'We think that a base is formed at the 38.2% FR level and there is potential of stronger rebounds ahead,' it said.
CIMB Research said the technical landscape is improving. MACD histogram bars are falling at a slower pace, suggesting that momentum is slowly picking up. RSI too has move above the 50pts mark.
'Any pullback is an opportunity to accumulate. The next upleg should lift prices towards RM0.375 and possibly even RM0.425 next. On the downside, a fall below RM0.31 would trigger our stop,' it said.
Digistar integrates IT infrastructure, teleconferencing, LANs, interactive media management systems, radio and television news automation, telecommunication systems and other related electronic systems.
It said on Wednesday, May 4 the recent pullback dragged Digistar to the 38.2% FR level. Since then, the bulls have come to the rescue.
'We think that a base is formed at the 38.2% FR level and there is potential of stronger rebounds ahead,' it said.
CIMB Research said the technical landscape is improving. MACD histogram bars are falling at a slower pace, suggesting that momentum is slowly picking up. RSI too has move above the 50pts mark.
'Any pullback is an opportunity to accumulate. The next upleg should lift prices towards RM0.375 and possibly even RM0.425 next. On the downside, a fall below RM0.31 would trigger our stop,' it said.
Digistar integrates IT infrastructure, teleconferencing, LANs, interactive media management systems, radio and television news automation, telecommunication systems and other related electronic systems.
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