Stock Name: D&O
Company Name: D&O GREEN TECHNOLOGIES BERHAD
Research House: CIMB
KUALA LUMPUR: CIMB Retail Research has a Buy on D&O Green Technologies at 71 sen as the technical landscape is improving. It is trading at a price-to-book value of 2.7 times.
It said on Tuesday, June 29 D&O is hovering near the 38.2% FR level from its RM0.975 high. It added a base pattern seems to have formed in the process and this should provide a platform for the next up leg.
'If prices can swing above the 50-day SMA (at RM0.74), RM0.78 (also its 23.6% FR) and RM0.865 will be its next targets,' it said.
CIMB Research said the technical landscape is improving. MACD has staged a positive crossover and is now rising towards the zero level. Meanwhile, its RSI is also rising towards the upper band of the neutral zone.
'As long as prices hold on steady above its recent low of RM0.655, we believe this uptrend still has legs. Traders may start to nibble now to ride this recovery. A fall below RM0.655 would trigger our stop,' it said.
D&O Green Technologies, through its subsidiary, manufactures semiconductor components. The company manufactures and assembles semiconductor components under original equipment manufacturer contract manufacturing.
Company Name: D&O GREEN TECHNOLOGIES BERHAD
Research House: CIMB
KUALA LUMPUR: CIMB Retail Research has a Buy on D&O Green Technologies at 71 sen as the technical landscape is improving. It is trading at a price-to-book value of 2.7 times.
It said on Tuesday, June 29 D&O is hovering near the 38.2% FR level from its RM0.975 high. It added a base pattern seems to have formed in the process and this should provide a platform for the next up leg.
'If prices can swing above the 50-day SMA (at RM0.74), RM0.78 (also its 23.6% FR) and RM0.865 will be its next targets,' it said.
CIMB Research said the technical landscape is improving. MACD has staged a positive crossover and is now rising towards the zero level. Meanwhile, its RSI is also rising towards the upper band of the neutral zone.
'As long as prices hold on steady above its recent low of RM0.655, we believe this uptrend still has legs. Traders may start to nibble now to ride this recovery. A fall below RM0.655 would trigger our stop,' it said.
D&O Green Technologies, through its subsidiary, manufactures semiconductor components. The company manufactures and assembles semiconductor components under original equipment manufacturer contract manufacturing.
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