Technical Buy: Catcha May See Trend Reversal

The Malaysian Reserve ·  Mar 15 19:57

Penny-stock Catcha Digital Bhd might see a trend reversal, says PublicInvest Research in a technical report on the stock released today.

It said Catcha was potentially staging a breakaway from its downtrend, with anticipation of continuous improvement in both momentum and trend in the near term.

Should the immediate resistance level of 31.5 sen be broken with renewed buying interest, it said the counter might continue to lift price higher to subsequent resistance level of 34.0 sen.

However, failure to hold on to support level of 27.5 sen might indicate weakness in the share price and hence, a cut-loss signal, it added.

Catcha is focussed on digital media, advertising and software industries. Its wholly-owned subsidiary, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to brands in the fast-moving consumer goods, retail, property and entertainment industries.

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