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Friday, March 26, 2010

DJ MARKET TALK: Charts Tip Cahya Mata May Rise To MYR3.10-Maybank

0505 GMT [Dow Jones] STOCK CALL: Maybank Investment rates Cahya Mata Sarawak Bhd (2852.KU) at Short Term Buy based on charts with upside targets at MYR2.82, then MYR3.10. "CMSB is in a very firm major Wave 3 uptrend, confirmed by the positive crossovers on its technical indicators," says chartist Lee Cheng Hooi. Adds, resistance eyed at MYR2.79, then MYR3.08. Stock last flat at MYR2.59. On downside, next support at MYR2.15; stop loss at MYR2.13


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