Recall that on 12 Mar. 2014, we issued a technical buy call on HARBOUR (at RM1.68) after the under-researched stock confirmed a ‘Bullish Flag’ breakout. Three months down the road, HARBOUR has since lose its momentum, trading on a sideway consolidation around the RM1.75-RM2.00 level. Lack of buying volume coupled with the flattish readings from key indicators suggests that the stock could consolidate further. We believe that the stock lacks near-term catalyst to rally the share price further. As the share price did not perform according to our expected time-frame, we feel it is the time to take profit with a 6.5% capital gain.

 

Source: Kenanga