PERDANA’s share price rose to its multi-month high after gaining 5.0 sen or 4.0% to RM1.31 yesterday. To recap, we had earlier issued a “Trading Buy” on the stock with a target price of RM1.30. The Stochastic indicator is in the overbought region while RSI indicator is also approaching overbought territory, suggesting upside could be limited from here. Hence, we have decided to ‘Take Profit’ as our target price has been achieved, but we might revisit the stock once the technical picture becomes compelling again.

Source: Kenanga