Faber: Short-term Technical Buy

FABER– MYR2.50    (Stock Code: 1368)

FABER made a major Wave 4 low of MYR2.25 (28 Aug 2013) with grossly oversold and bullish signals. Most of its positive chart signals above suggest a Wave 5 uptrend. It is likely to break into higher territory in a potential Symmetrical Triangle breakout, as it breached its key resistance areas in an upward Wave 5 move. SHORT-TERM BUY (TECHNICAL) on dips for FABER, with firmer support and clear upward target areas of MYR2.63 and MYR3.02. Stop-loss is MYR2.23.

Faber  Group  Berhad  (FABER),  through  its  subsidiaries,  provides  hospital  support  services,  hotel management  services,  develops  hotels,  and  operates  as  a  hotel  proprietor.  It  also  develops  and  manages other properties.

by Mayban IB