Hijrah Dinar - Rahsia Kekuatan Ekonomi Islam

KUALA LUMPUR: CIMB Equities Research has a technical Sell on Silver Ridge Holdings Bhd at 20 sen, at which it is trading at a price-to-book value of 1.0 times.

It said on Wednesday, June 15 the rally in June may have exhausted. Sellers began to set in after prices hit a new 52-week high of RM0.25. The break below the triangle support suggests that there is still room to the downside. If the RM0.20 level gives way, the next support levels are RM0.175 and RM0.155.
“Indicators are showing signs of exhaustion. MACD histogram bars are losing pace while RSI has also slipped below the 70pts mark. Sell into strength looks like a good option here, especially near the RM0.215-0.235 resistances,” it said.
Silver Ridge provides telecommunication system architecture and design, network solutions, as well as telecommunication related software solutions.