CENSOF’s uptrend has been unrelentingly strong as the share price rose 10 sen to RM0.640 (+18.5%) since we initiated a buy call on 17-October 2013 as investors were generally positive on CENSOF’s GST-ready accounting software, which will enhance its outlook after the government revealed the GST roadmap in the Budget 2014. Technically speaking, key indicators are generally bullish with particularly RSI and Stochastic at overbought condition in the short-term period, as the share price has spiked up over 28.0% since the last four weeks and close above our technical target price @RM0.620. We believe short-term traders may likely take some profit off the table as the share price is close to the previous high @RM0.645. As a result, we feel it is the time to lock-in some profits. Nonetheless, should the uptrend remains intact, trader may re-enter position at RM0.570 (Fibonacci) to bet for an upside breakout above RM0.645.

Source: Kenanga