Recall that we issued a ‘Trading Buy’ call on IFCAMSC on 9 Jan 2015 with a target price of RM1.25. Since then, its share price has performed outstandingly gaining an enormous 54.8% gain. Underlying trend remained up with its MACD still in positive divergence. However, both Stochastic and RSI indicators are already flattening out in their respective overbought region suggesting that the rally could potentially take a pit stop soon. As the share price had already surpassed our target price objective, we are taking this opportunity to lock in our gains before the upcoming CNY holidays. Meanwhile, we might re-look this stock once its share price becomes compelling technically after its overbought situation is neutralized.
Source: Kenanga
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calvintaneng
Yes. Take profit from IFCA MSC & switch to laggard NOVA MSC
2015-02-10 09:35