| CIMB Research has Buy on Masterskill at RM2.23 |  |  |
| Written by theedgemalaysia.com |
| Thursday, 19 May 2011 08:43 |
KUALA LUMPUR: CIMB Research has a Buy on Masterskill Education Group at RM2.23 at which it is trading at a FY12 price-to-earnings of 6.9 times and price-to-book value of 1.8 times. It said on Thursday, May 19 that prices appear to be forming a small bullish flag pattern and may have completed the pattern when prices fell to a low of RM2.16 last week. Prices are now testing the flag resistance as well as its key resistance trend line at RM2.27. CIMB Research said the technical landscape is neutral with a slight upward bias. Its RSI has hooked up but has yet to reach a level that would excite it. “Traders may start to accumulate now with a stop placed below the RM2.16 low. Aggressive traders should add to their position if prices breakout above the RM2.27 resistance on volume as RM2.47 beckons. The next resistance level is seen around the RM2.66-2.70 levels,” it said. |
