FY10P/E: N/A, P/BV: 1.2x
• The stock stopped bleeding after it hit a recent low of RM0.32. Since then, prices have started to gain strength. Yesterday, it went close to surpass the 30-day SMA and we think buyers are slowly coming back.
• The improving technical landscape suggests that momentum is picking up. MACD has staged a positive crossover and is about the turn positive while RSI is also rising.
• Risk takers may buy now but we prefer to wait for it to cross above its 30- day SMA at RM0.365. Once this level is taken out, next resistance is seen at RM0.375, RM0.39 and RM0.41. Keep a stop near RM0.34.
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