Recall that on 1st July 2014, we revised our TP on VITROX to RM2.77 while adjusting a higher stop-loss level of RM2.41, as buying pressure stays strong and reversal signal yet to be seen. However, VITROX’s technical picture has deteriorated rapidly over the past few days following a failed attempt to break through the technical resistance level at RM2.70. Readings from the indicators suggest that selling pressure is strong, and further profit-taking activities could last for the next few days. Thus, we suggest traders to take profit for now at RM2.41 (our adjusted stop loss level). Our preferred buy-on-weakness level is located at

 

Source: Kenanga