CGS Places Buy Calls On YBS International, TT Vision Holdings

YBS International (0025) – Technical Buy

CGS International (CGS) reiterated their Technical Buy on the stock after prices reached their first target yesterday on a formation of long white bullish candle which also sent prices up to close at a new all-time historical high.

Coupled with a higher trading volume, the rising EMAs keep the current bullish run intact in the near term.

Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) have been rising steadily, showing that the bulls have the wind behind their back.

CGS thinks that aggressive traders may want to go long now with a stop-loss set at RM0.775 (a tick below the 20-day EMA). Their Fibonacci targets remains unchanged at RM0.86 (1.000) and RM0.93 (1.236) next if follow-through buying interest continues.

YBS International Berhad operates as an investment holding company. The Company, through its subsidiaries, designs and manufactures high precision moulds, tools, and dies. YBS International also focuses in property investments.

TT Vision Holdings (0272) – Technical Buy

The stock was well supported above the 20-day EMA following its year-long triangle breakout that happened last month. Yesterday’s white candle sent prices to close at its 5-month high (on a close basis) on the back of higher trading volume.

The higher highs and higher lows structure from the RM0.735 low paves the way for the bulls to run further in the coming days.

The Moving Average Convergence Divergence (MACD) just confirmed its golden cross while the Relative Strength Index (RSI) has continued on its uptrend. Both indicators suggest that the buying momentum is slowly picking up.

CGS thinks that aggressive traders may want to go long here or on weakness with a stop-loss set at RM0.975.

On the upside, prices have the potential to push on from here and test the historical resistance at RM1.10 and RM1.16 next.

TT Vision Holdings Berhad manufactures automated machinery equipment. The Company produces inspection modules includes orientation, mark, lead, surface, die alignment, solder paste, and plating alignment inspection. TT Vision Holdings serves customers worldwide.

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