Recap that we issued a ‘Trading Buy’ call on BRAHIM as we spotted a bullish trend reversal signal. However, the share price sunk to an intra-day low of RM0.87, our preset stop-loss level before closing at RM0.89, down 1.0 sen or 1.11% yesterday. Technically, both Stochastics and RSI indicators continue to wane after failing to breach the oversold territory, suggesting negative buying momentum. Meanwhile, the bearish outlook is also reflected by the negative movement of MACD indictator. Thus, we decide to cut loss but will continue to monitor the stock for any reversal signal.

Source: Kenanga