MYEG (0138) - Hot Stock - My E.G. gains 1.9% after HLIB Research says stock was oversold
April 16, 2015 : 9:21 AM MYT
KUALA LUMPUR (April 16): The shares of My E.G. Services Bhd rose in early trade today after Hong Leong IB Research said the stock had been grossly oversold.
At 9.08am, My E.G. rose 1.98% or five sen to RM2.58 with 393,100 shares done.
In a note today, the research house said the stock was grossly oversold as substantiated by daily oscillators.
“Moreover, “Bullish Harami Cross” candlestick pattern on daily chart suggests potential reversal trajectory.
“Hence, we opine that share price is about to reverse the recent retracement.
“Upside target prices are located at RM2.70 and RM2.87, with a long-term price objective of RM3.07.
“Supports at RM2.47, RM2.43 and RM2.40,” it said. - The Edge Markets
April 16, 2015 : 9:21 AM MYT
KUALA LUMPUR (April 16): The shares of My E.G. Services Bhd rose in early trade today after Hong Leong IB Research said the stock had been grossly oversold.
At 9.08am, My E.G. rose 1.98% or five sen to RM2.58 with 393,100 shares done.
In a note today, the research house said the stock was grossly oversold as substantiated by daily oscillators.
“Moreover, “Bullish Harami Cross” candlestick pattern on daily chart suggests potential reversal trajectory.
“Hence, we opine that share price is about to reverse the recent retracement.
“Upside target prices are located at RM2.70 and RM2.87, with a long-term price objective of RM3.07.
“Supports at RM2.47, RM2.43 and RM2.40,” it said. - The Edge Markets
