KUALA LUMPUR: CIMB Equities Research has a technical Buy on KUMPULAN FIMA BHD [] at RM1.74 at which it is trading at a price-to-book value of 1.0 times.
It said on Tuesday, July 5 that Kumpulan Fima broke out of its consolidation triangle pattern on Monday.
'We see this as a prelude to more upside ahead. Although prices could still retrace a tad lower to close the RM1.66-RM1.71 gap, we think that the longer term trend is now up,' it said.
CIMB Research said the MACD has staged a golden cross. RSI too has hooked upward. Once the consolidation is over, prices should charge towards RM1.85 and RM2.04.
'Any pullback is an opportunity to accumulate. However, always placed a stop at below RM1.62-RM1.51 depending on one's risk appetite,' it said.
Kumpulan Fima operates pineapple estate, processes and cans pineapple, and cultivates tropical fruits.
It said on Tuesday, July 5 that Kumpulan Fima broke out of its consolidation triangle pattern on Monday.
'We see this as a prelude to more upside ahead. Although prices could still retrace a tad lower to close the RM1.66-RM1.71 gap, we think that the longer term trend is now up,' it said.
CIMB Research said the MACD has staged a golden cross. RSI too has hooked upward. Once the consolidation is over, prices should charge towards RM1.85 and RM2.04.
'Any pullback is an opportunity to accumulate. However, always placed a stop at below RM1.62-RM1.51 depending on one's risk appetite,' it said.
Kumpulan Fima operates pineapple estate, processes and cans pineapple, and cultivates tropical fruits.
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