Dec 17, 2013

Short-term Buy: Latitud

LATITUD – MYR1.92   (Stock Code: 7006)  (Bloomberg Code: LATI MK Equity

below: Latitud Daily Chart (click to enlarge):latitudeLATITUD made a major Wave 2 low of MYR0.74 (Mar 2013) with grossly oversold and bullish signals. All the positive chart signals above suggest an imminent upward move. It is likely to  break into higher territory, as it breached its key resistance areas in a bullish upward Wave 3 and 5 move.

SHORT-TERM BUY (TECHNICAL) on dips for LATITUD, with firmer support and clear upward target areas of MYR2.03, MYR2.50, MYR3.56 and MYR3.88. Stop-loss is at MYR1.55.

latitude-dataLatitude  Tree  Holdings  Berhad  (LATITUD)  is  an  investment holding company. The  company,  through  its subsidiaries, manufactures and sells wooden furniture and parts.

by Maybank IB