Kenanga Research & Investment

Highlights / Stock Picks of the Day - Malayan Flour Mills Berhad (MFLOUR) – Stopped-out

kiasutrader
Publish date: Fri, 17 Oct 2014, 09:33 AM
Recall that in 25 July 2014, we placed a “Trading Buy” call on MFLOUR as the share price broke out from its one-year uptrend channel resistance level of RM1.85. However, the bullish view is no longer valid due to the recent poor market sentiment. The key indicators (RSI, Stochastic and MACD) are trending downwards, indicating the strong selling pressure. There has been no sign of reversal yet, as such, we are issuing a “Stopped-out” call on MFLOUR at RM1.76.
 
 
Source: Kenanga
Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 1 of 1 comments

Abudance

Gone further than 1.76... Now is 1.86

2014-10-29 12:22

Post a Comment