ZHULIAN – MYR2.50 SHORT-TERM BUY (TECHNICAL)
(Stock Code: 5131) (Bloomberg Code: ZHCB MK Equity)
Recommendation
ZHULIAN made a major daily Wave 4 low at MYR2.30 (on 6 Sep 2012) with grossly oversold and bullish signals. Due to its mostly positive chart signals, the indicators are pointing firmly to a move towards its resistance and upside Wave 5 target areas in the short to medium term.
SHORT-TERM BUY (TECHNICAL) on dips for ZHULIAN, with very firm support areas at MYR2.30 and MYR2.50. The upside target areas are at MYR2.73 and MYR2.89, with stop-loss at MYR2.28.
Zhulian Corporation Berhad (ZHULIAN) is an investment holding company. The company, through its subsidiaries, manufactures custom and fine jewellery, consumer products, bedroom apparel and therapeutic products, and water treatment systems.
by MIB
