May 1, 2010

CIHLDG - Short Term Technical Buy

(Stock Code: 2828)

CI Holdings Berhad (CIHLDG) is engaged in investment holding, and the provision of management services to its subsidiaries. It operates in three segments: beverages, building and construction-related products, and investment holdings.

above: click to enlarge

CIHLDG  reached its Wave 4 low of RM2.00 in April 2010 and has since risen above its 19-day and 50-day simple moving averages. With the positive  indicators above supporting our bullish view, CIHLDG has excellent potential to trend higher and test our resistance areas of RM2.43 and RM2.77.

SHORT-TERM BUY (TECHNICAL)  on dips for CIHLDG with firmer support areas at RM2.12 and RM2.35 and potential upside target areas of RM2.63 and RM2.72. Stop-loss is at RM2.10.

by Maybank Investment Bank