Kenanga Research & Investment
Highlights / Stock Picks of the Day - Mah Sing Group ("MAHSING") – Trading Sell
Post elections, MAHSING’s share price registered seven consecutive bullish sessions with a collective 21.74% upside gain. However, we believe that the rally may have been overdone, and MAHSING’s share price is starting to show early signs of profit taking. Of particular concern, a bearish “Doji Star” candlestick pattern has taken shape amid high trading volume. This potentially signals that MAHSING may be toppish at these levels. In fact, we would not rule out the possibility of a near-term trend reversal from here. Indicator-wise, both the 14-day Stochastic and the RSI are heavily overbought. As such, we recommend that traders lock in prior gains at these levels, and perhaps revisit the stock should the share price return to the RM2.40-RM2.50 support levels.
Source: Kenanga
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CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
