Recall that we have issued a Trading Buy call on SUPERMX on 14th October 2013 premised on reversal signals observed. However, its 3Q14 results disappointed with lower-than-expected glove volume posted as reflected in its recent weak share price performance. MACD is seen diverging negatively over the Signal line, coupled with momentum indicators turning southwards, indicating further bearish trend and waning interest in the stock. Therefore, we now issue a ‘Stopped-out’ call on the stock.

 

 

Source: Kenanga