Recall that we issued a ‘Trading Buy’ call on HOHUP on 27th November 2014 based on the bullish technical indicators showcased back then. However, HOHUP's share price slid 9 sen or 6.5% yesterday to settle at RM1.29 with intraday low at RM1.25, which touched our protective stop-loss level of RM1.27. The closing price was below all its SMA trend lines, suggesting downtrend movement. Both Stochastics and RSI indicators were heading south, indicating negative selling momentum while the MACD indicator was also trending down to paint a bearish outlook. Thus, we are issuing a ‘Stopped-out’ call on the stock.

Source: Kenanga