Weekly Trading Idea - Cahya Mata Sarawak Berhad : An Opportunity To Bargain Buy Near RM2.10... - 15/03/2010

CMSB closed at RM2.14, after testing a more than 2-yr high of RM2.16. After flooring at around the RM1.10 support level from Nov 2008 to Mar 2009, the share price of CMSB rebounded and traded within a range of RM1.33 to RM1.60 in Apr to Oct 2009. Despite some volatility in late 2009, the stock has consistently chalked up higher highs. In recent trading, thanks to the supportive 10-day SMA, it has convincingly neutralised the tough technical hurdle at RM1.87. It hit a more than two-year high of RM2.16 on Thursday, before closing at RM2.14 on Friday, above another resistance level at RM2.10.