Tiger’ share price may climb after closing the highest in 9 months. The stock was featured in our Hot Stock report early this month and it has moved favourably since. Again, it is on a longer-term downtrend after peaking in late 2007. However, the trend may change, at least in the short term, after the stock closed at the highest level in nine months which is marginally above the November-high of RM0.14. The stock has been closing above its 200-day MAV line for more than a week, which it has not managed to violate in November. The firmer move yesterday occurred on high volume, suggesting firm buying interest, and this came after the positive “Long White” of Wednesday. Thus, purchases can be made at the current level, or on a pull-back towards the stop-loss level of RM0.12, the low of Wednesday. The price target is at the next resistance of RM0.18, and followed by the psychological RM0.20 – the low of July 2010. A break of both levels could even see a test of its 2010-high of RM0.27. A close below RM0.12 will invalidate the trade and hence, lead to the stock trading sideways at best.
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