Stock Name: SEAL
Company Name: SEAL INCORPORATED BHD
Research House: CIMB
KUALA LUMPUR: CIMB Equities Research has a technical Sell on Seal Incorporated at 51.5 sen at which it is trading at a price-to-book value of 0.9 times.
It said on Friday, May 27 that Seal violated the flag support early this week. The pullback also dragged prices below its 50-day SMA.
'We think that the stock is due for deeper correction and the 200-day SMA is also a magnet for prices,' it said.
CIMB Research said the MACD has slipped into the red while RSI is slowly losing pace. The deteriorating technical landscape suggests that the trend is now down.
'Use any rebound towards the RM0.525-0.535 levels to sell into strength. On the downside, support is seen at RM0.495, RM0.475 and RM0.445. Always put a buy stop at RM0.565, just in case,' it said.
Company Name: SEAL INCORPORATED BHD
Research House: CIMB
KUALA LUMPUR: CIMB Equities Research has a technical Sell on Seal Incorporated at 51.5 sen at which it is trading at a price-to-book value of 0.9 times.
It said on Friday, May 27 that Seal violated the flag support early this week. The pullback also dragged prices below its 50-day SMA.
'We think that the stock is due for deeper correction and the 200-day SMA is also a magnet for prices,' it said.
CIMB Research said the MACD has slipped into the red while RSI is slowly losing pace. The deteriorating technical landscape suggests that the trend is now down.
'Use any rebound towards the RM0.525-0.535 levels to sell into strength. On the downside, support is seen at RM0.495, RM0.475 and RM0.445. Always put a buy stop at RM0.565, just in case,' it said.
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