Jun 22, 2010

TSM Global - Accumulate On Dip

TSM – RM3.23 Stock Code 8842

TSM Global Berhad (TSM) through its subsidiaries, manufactures and supplies wiring harnesses for vehicles and automotive accessories as well as imports, wholesales, designs, installs, and supplies electrical products and accessories.


TSM made a daily Wave C low of RM2.44 in May 2010 with grossly oversold signals. The recent steady price action above the 19 and 50-day moving averages indicates firm upside bias movement. Positive crossovers from its daily CCI, DMI, MACD, Oscillator and Stochastic are deemed as very bullish, indicating further upside potential for TSM.

ACCUMULATE (TECHNICAL)  on dips for  TSM  with its support areas of RM2.68 and RM3.23 and firm upside target areas of RM3.64 and RM3.84. Stop-loss is at RM2.66.

By Maybank IB