Sep 23, 2010

CIHLDG - Technical Buy On Dip

(Stock Code: 2828)

CI Holdings Berhad (CIHLDG) is engaged in investment holding, and the provision of management services to its subsidiaries. It operates in beverages and investment.


CIHLDG made a daily major Wave 4 low of RM2.77 in Sept 2010, with grossly oversold signals. We believe the stock is in a strong Wave 5 uptrend. With the positive crossovers from the CCI, DMI, MACD, Stochastic and Oscillator indicators, we feel that CIHLDG has the potential to test our upside targets in the near term.

SHORT-TERM BUY (TECHNICAL) on dips for CIHLDG with its firmer support areas of RM3.18 and RM3.40 and upside target areas of RM3.43, RM3.60 and RM4.03. Stop-loss is at RM3.16.

by Maybank IB