SHARES OF DRB-HICOM NOW RIPE FOR BOTTOM FISHING

KUALA LUMPUR: Shares of DRB-Hicom  Bhd rose marginally in early trade following a technical buy call by PublicInvest Research.

DRB gained five sen to RM2.06.DRB-HicomC47 rose 8.33%, or 0.5 sen to 6.5 sen.

PublicInvest said DRB-Hicom’s share price was breaking out of descending triangle chart pattern.

“Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term,” it said.

However, failure to hold on to support level of RM1.94 may indicate weakness in the share price and hence, a cut-loss signal.

PublicInvest said the stop loss level was at RM1.80.

– ANN

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