FY09P/E: N/A, P/BV: 1.0x
• Time dotcom is still gyrating in a sideways trend. It tested the support trend line lately and bounced off strongly to above its key MAs. However, the formation of a black candlestick yesterday made things complicated, as it shows diversion between the bulls and the bears.
• Expect trading to be volatile over the next few days. Our longer term view however stays. Any pullback towards the RM0.355 support trend line is a chance to accumulate.
• Indicators remain conducive. MACD has staged a positive crossover while its RSI is neutral at 52. If it manages to hold on above the key MAs, expect it to test the RM0.44 and RM0.46 resistances soon.
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