Recall that we had issued a “Trading Buy” call on TEOSENG with a target price of RM1.94 on 14 May 2015, with a strict stop-loss level at RM1.75. However, the share price has breached our stop loss level of RM1.75 yesterday. Technically, the share price is hovering above its strong uptrend support, while trade below both 20- and 50- day SMA. Additionally, both MACD and Stochastic are relatively neutral, suggesting tepid buying interests. As the technical picture is no longer attractive with the share price hitting our stop-loss level, we are closing our position in this stock.

Source: Kenanga Research - 28 May 2015