Highlights / Stock Picks of the Day - Sasbadi Holdings Berhad (SASBADI) – Trading Buy

Defensive stock SASBADI has rebounded from the -2SD regression line support of RM2.10 despite the poor market sentiment. It is also trading above all key moving averages, lending an additional positive support to the share price. Indicator-wise, Stochastic is reversing from oversold territory, while RSI is trending upwards, suggesting bullish momentum. In anticipation that the share price will continue on its rebound rally, we are issuing a “Trading Buy” on the stock, with a Target Price of RM2.60 (coincides with the +2SD regression line and 123.6% Fibonacci Retracement level). Meanwhile, a strict "stopped-loss" level of RM2.25 should be placed.

Source: Kenanga Research - 27 May 2015

Author: kiasutrader   |   Publish date: Wed, 27 May 2015, 09:38 AM 

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