F&N should continue to climb after closing at its highest in 3 months. A purchase can be made if the stock stays above RM18.30, with a close below RM17.90 as stop-loss. The price targets are the prior highs of RM18.90 and RM19.80. The stock may drift sideways if it fails to stay above RM19.80, and its downside bias will increase if the stop loss is triggered.
CBIP may decline further if the stock closes below the psychological RM2.50 level. Liquidation can be made if it happens and supports are anticipated at the prior lows of RM2.30 and RM2.20. Failure to force a close below RM2.50 may see a return in buying but expect strong resistance at RM2.60 and RM2.65.
Source: RHB
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