KUALA LUMPUR: CIMB Equities Research has a technical sell on DIALOG GROUP BHD [] at RM2.39 at which it is trading at a FY 12 price-to-earnings of 15.9 times and price-to-book value of 8.0 times.
It said on Friday, Oct 14 the stock was now very close to its targeted RM2.42 levels and it believes that it is a good time to lock in profits.
'This strong resistance would likely be tough for the bulls to break without any pullback,' it said.
CIMB Research said the MACD and RSI are both testing their respective resistances, making a reversal around current levels more probable.
'Take profits now as the 50-day SMA would also keep the bulls at bay. Expect a pullback towards RM2.17 again while a fall beneath RM2.00 would mean that prices are heading back towards RM1.79 again,' it said.
It said on Friday, Oct 14 the stock was now very close to its targeted RM2.42 levels and it believes that it is a good time to lock in profits.
'This strong resistance would likely be tough for the bulls to break without any pullback,' it said.
CIMB Research said the MACD and RSI are both testing their respective resistances, making a reversal around current levels more probable.
'Take profits now as the 50-day SMA would also keep the bulls at bay. Expect a pullback towards RM2.17 again while a fall beneath RM2.00 would mean that prices are heading back towards RM1.79 again,' it said.
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