On 14 August 2014, we placed a ‘Trading Buy’ call on SYF with a target of RM1.84 based on our pole measurement objective. However, share price did not perform as expected since then and it plunged 9.0 sen (-7.44%) yesterday, triggering our stop-loss at RM1.11. From the technical perspective, the bears have dominated the bulls with MACD reversing its previous uptrend to cross over the Signal line negatively. Momentum is also seen waning with both Stochastic and RSI indicators hooking downwards. Thereby, we are placing a “Stopped-out’ call on the stock at stop-loss level of RM1.11.

 

 

Source: Kenanga