Pasukhas up 5% after HLIB Research says stock oversold

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KUALA LUMPUR (April 24): Shares of Pasukhas Group Bhd jumped 5% in early trade today after Hong Leong IB Research said  that Pasukhas had been extremely oversold and likely to bottom up in immediate term as “Tweezers Bottom” candlestick pattern in the oversold territory suggested imminent technical rebound.

At 9.05am, Pasukhas gained one sen to 21 sen with 2.02 million shares done.

In a note today, the research house said it was looking at target prices of 21,5 sen, 23 sen and 24 sen.

“However, always prepared to set cut loss if situation changes. Support at 19.5 sen with cut loss below 19 sen,” it said.