We like CENSOF as it has just rebounded from the long-term channel support and surpassed the previous high @RM0.540 (intra-high @RM0.545) yesterday. After successfully staging a breakout above its 6-month downwards slopping triangle overhead resistance last week, we feel the bulls are probably just around the corner waiting to pound on CENSOF. Furthermore, as the group’s GST-ready accounting software is likely to benefit should the federal government outline the details of GST roadmap in the 

upcoming budget 2014, we feel the stock may attract more buying interest in the coming days. We are calling a BUY on the stock with RM0.620 (previous high) as our short-term target. Meanwhile our protective stop-loss is pegged at RM0.510. That implies a potential upside of 14.8% against a downside risk of 5.6%.

 

Source: Kenanga