Apr 15, 2010

FABER - Take Profit On Rally

(Stock Code: 1368)

faber-chart above: click to enlarge

Faber Group Berhad (FABER) provides services like hospital support and management services, develops hotels, and operates as a hotel proprietor. It also develops and manages properties.

faber-financial-data above: click to enlarge

FABER peaked at its Wave 5 high of RM2.63 in April 2010 (with bearish divergence signals) and surpassed for first upside target of RM2.48 but stalled just below our second target of RM2.70 since our buy call on the 24 March 2010 at RM2.24. We believe the stock may soon move into a downward correction phase, due to its grossly overbought Stochastic sell signal.

TAKE PROFIT (TECHNICAL) on rallies for FABER, with its weaker support and target areas above.

source: Maybank Investment