Stock Name: THETA
Company Name: THETA EDGE BERHAD
Research House: CIMB
KUALA LUMPUR: CIMB Equities Research has a technical Buy on Theta Edge Bhd at RM1.06 at which it is trading at a price-to-book value of 1.3 times.
It said on Monday, May 23 the stock is consolidating in a triangle pattern and a base could have been formed at the RM1.04 level.
'We think a breakout is imminent and this should lift prices above its 200-day SMA,' it said.
CIMB Research said while technical landscape appears subdued but it is not overly concerned. The odds continue to favour the bulls as long as prices stay above the 1.04 level. Only a break below this level would cause it to review its call.
'Only risk takers should look at this stock while others should wait for a push above the RM1.14 level (its 200-day SMA) before taking any position. The next upleg should lift prices towards RM1.18 and RM1.25 next,' it said.
Theta Edge offers information and communications TECHNOLOGY [] services. The company sets up and runs wireless networks for telemetry, remote meter reading, and telecommunications; and offers systems integration and managed telecommunications services.
Company Name: THETA EDGE BERHAD
Research House: CIMB
KUALA LUMPUR: CIMB Equities Research has a technical Buy on Theta Edge Bhd at RM1.06 at which it is trading at a price-to-book value of 1.3 times.
It said on Monday, May 23 the stock is consolidating in a triangle pattern and a base could have been formed at the RM1.04 level.
'We think a breakout is imminent and this should lift prices above its 200-day SMA,' it said.
CIMB Research said while technical landscape appears subdued but it is not overly concerned. The odds continue to favour the bulls as long as prices stay above the 1.04 level. Only a break below this level would cause it to review its call.
'Only risk takers should look at this stock while others should wait for a push above the RM1.14 level (its 200-day SMA) before taking any position. The next upleg should lift prices towards RM1.18 and RM1.25 next,' it said.
Theta Edge offers information and communications TECHNOLOGY [] services. The company sets up and runs wireless networks for telemetry, remote meter reading, and telecommunications; and offers systems integration and managed telecommunications services.
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