To recap, we issued a ‘ Trading Buy’ call on KKB at RM1.49 a fortnight ago after observing the ‘White Marubozu’ candlestick that indicates buyers’ dominance. However, share price dipped below our preset stop-loss level of RM1.40 yesterday, before closing at RM1.37, down 5 sen or 3.5%. The closing price was below all its MA trend lines, showcasing downtrend movement, while all key indicators, including MACD, Stochastics and RSI showing negative signal. In view that the share price did not perform according to our expectation, we decided to cut loss and close our position on the stock. However, moving forward, we will continue to monitor to trace reversal signal, if any.

Source: Kenanga