Recall on 23rd July 2014, we had a ‘Trading Buy’ call on MUHIBAH with target of RM4.17 based on our “Flagpole” measurement objective. However, our expectations have failed to materialize and it has lost 6.8% from the closing price on the day we issued a ‘Trading Buy’ call, hitting our stop-loss level at RM3.13 yesterday. Technically speaking, the outlook is bearish-bias with share price crossing below its 20-day SMA. RSI and Stochastic indicators are also hooking downwards indicating selling pressure in the stock. Thereby, we are issuing a “Stopped-out” call on the stock at our stop-loss level of RM3.13.

 

 

Source: Kenanga