CENTURY has been consolidating after reaching its all-time high level of RM0.96. The stock could have found its footing as it traded sideways for the past three days. Yesterday’s price surge could potentially set a rebound play with uptick in RSI and Stochastic emerging from its oversold region lending support for a rebound potential. Hence, we view that the current price level could be a good entry point with near-term TP set at its previous high of RM0.96, in anticipation that the share price would rebound towards its +2SD regression level.

Source: Kenanga Research - 14 May 2015