In our report dated 7th Feb 2014, we recommended a technical buy on MMSV at 20.5 sen. Since then, the share price has rallied towards a high of 29.0 sen (providing a decent 41.5% upside) on 27th March 2014 . While the share price falls short of our 33.5 sen target price, we reckon that its time to take profit on the stock as the current technical picture no longer reflects our earlier bullish view. MMSV is facing strong resistance at 29.0 sen, and selling pressure is seen piling up at the current level. All 3 key indicators (MACD, Stochastic, and RSI) are also painting a bearish picture. For these reasons, we suggest that traders TAKE PROFIT.

 

Source: Kenanga