CMSB (2852) CAHYA MATA SARAWAK BHD set to jump to multi-month highs, says RHB Retail Research

CMSB (2852) CAHYA MATA SARAWAK BHD  set to jump to multi-month highs, says RHB Retail Research

KUALA LUMPUR (Oct 20): RHB Retail Research said Cahya Mata Sarawak Bhd is set to jump to multi-month highs, as it broke off its RM1.44 consolidation level with increasing trading volume – printing a “higher high” bullish structure with a “White Marubozu” candlestick.

In a trading stocks note today, the research house said bullish momentum above this level may propel the stock towards its multi-month high of RM1.56, and then the RM1.67 resistance level.

“That said, this expectation will be nullified if it falls below the support level of RM1.39,” it said.

http://www.theedgemarkets.com/article/cahya-mata-sarawak-set-jump-multimonth-highs-says-rhb-retail-research