0150 GMT [Dow Jones] STOCK CALL: Buy Scomi Engineering (7366.KU) on weakness, says MIMB technical analyst Mohd Nazri Khan; notes stock has been building a strong bullish base after breaking 16-month downtrend line in early April. Adds, small bozu candle completed at MYR1.70. "The whole bottom (of the chart) also looks like a (bullish) Cup and Handle formation with target toward next resistance of MYR1.80," he says in report. Says both RSI and MACD also at encouraging bull territories, while all crucial moving averages have been penetrated. "Conservative traders should hold for at least a year with a potential long-term target pegged at MYR2.50," he says. Shares down 0.7% at MYR1.46. (VGB)
(END) Dow Jones Newswires
August 18, 2009 21:50 ET (01:50 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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