Recall that we had previously called a Trading Buy on VITROX on 15th Jan 2015 with a target price objective of RM2.60. The share price has since surpassed our target price level as it closed 8 sen (3.1%) higher yesterday at RM2.66. Chart-wise, the stock has exceeded the +2SD regression line and is trading above all 3 SMA’s. Key indicators are also largely overbought based on RSI and Stochastics. As such, we are taking this opportunity to take profit on this stock while we will re-look the stock if the share price becomes more compelling technically.

 

 

Source: Kenanga