CI Holdings closed at its 4-year high today at RM1.12. This suggest that the stock's buying momentum is strong. I expect more upside from the stock tomorrow. Technically, the stock broke out of its reverse Head & Shoulder neckline resistance yesterday. The reverse H&S has a target of RM1.92. This is a long term target.
CIMB wrote about the stock today - called "Expect a Bubbly start." CIMB expects the stock to post a 67% rise in 1Q earnings year-on-year. If they do that, it would be their 5th consecutive quarterly profits after years of losses. This could be a turnaround story. CIMB has a BUY call with a target of RM1.42 based on a PE of 15x.
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