Maybank Rates Titan As Accumulate Based On Charts

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STOCK CALL: Maybank Research tips Titan Chemicals Corp (5103.KU) as Accumulate based on charts. "Titan ended a minor weekly Wave 4 low at MYR1.10 in May 2009," says chartist Lee Cheng Hooi. Adds, positive weekly crossovers from the CCI, DMI, MACD, Stochastic and Oscillator indicators support house view of a very firm potential uptrend for Titan. "With its price bars firmly above the 18- and 40-day moving average, we are positive that Titan will trend towards the target areas of MYR1.89 and MYR2.80," says Lee; tips support at MYR1.70, then MYR1.43. Stock last +3.5% at MYR1.76.

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