February 28, 2012

BIMB Holdings (BIMB MK; RM2.16) - BUY

Stock Name: BIMB
Company Name: BIMB HOLDINGS BHD
Research House: CIMBPrice Call: BUYTarget Price: 2.16




FY13P/E: N/A, P/BV: 1.3x
  • Prices have broken out of its long term triangle pattern in January and have stayed above the triangle support. It appears to be forming a bullish flag pattern just above its moving averages.
  • With its indicators in consolidation mode, the bullish flag pattern could continue for a while longer. Nevertheless, it provides traders time to get in.
  • The stock is a buy with a stop loss placed below RM2.07. A breakout above the RM2.22 flag resistance would mean that prices are headed back to retest RM2.43 high.
BIMB Holdings Berhad provides all aspects of Islamic banking services. Through its subsidiaries, the Company underwrites family and general takaful (Islamic insurance) and provides stock broking and other related services. BIMB Holdings also has operation in unit trust management, provides training and consultancy services, and leases fixed assets to related companies


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