· CENTURY (Close Position). Back in 10-Sep, we recommended a ‘Trading Buy’ call on CENTURY after observing that the share price looks set to stage a rebound play on the back of bullish technical indicators. Nevertheless, the share price continues to trade sideways instead while it has yet to break out from its 200-day SMA. Trading volume has also been relatively tepid, same goes for the flattish momentum indicators, suggesting a prolonged sideways trading pattern. Until a compelling technical picture arises again, we decided to close our position on this stock as an anticipated rally has yet to occur.

· HUPSENG (Close Position). Recall that we issued a ‘Trading Buy’ call on HUPSENG after spotting the share price breaking out from the resistance level of RM1.20. However, the share price has not been performing up to our expectation by failing to make a convincing breakthrough to stay above the resistance level of RM1.28 on the back of lacklustre trading volume. The neutral outlook is showcased by the MACD indicator moving sideways while buying momentum is also less encouraging in view of the flattish Stochastic and RSI indicators. We think that the sideways movement or consolidation phase might persist barring any catalysts and thus we are closing position on HUPSENG at RM1.23. Nevertheless, we will continue to monitor for the emergence of bullish technical signals.

Source: Kenanga Research - 30 Oct 2015