Kenanga Research & Investment

Highlights / Stock Picks of the Day - Kumpulan Fima Bhd (KFIMA) – Take Profit

kiasutrader
Publish date: Tue, 27 May 2014, 10:19 AM
KFIMA recently announced an uninspiring 4Q14 financial result - the Group’s net profit plunged 55% YoY to RM6.6m. KFIMA’s share price was down by 3 sen (-1.29%) to close at RM2.29 yesterday. From a technical chart perspective, KFIMA has been on a downtrend since reaching a high of RM2.45 two months ago. MACD indicator has also started to dip, lending a hand to the bearish bias. Besides, key indicators like Stochastic and RSI are also negative, reinforcing the near-term bearish trend. We believe the share price could fall further during the near-term amid the poor results announced recently. Thus, we are placing a ‘Take Profit’ gesture on this stock and may relook into it when the share price looks attractive again.
 
Source: Kenanga
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