How is Success (7207) doing?
I posted my technical analysis on Success on 18-Dec-14 so lets revisit this stock to see how it is doing so far. Having last closed at RM1.87, the share price has gone up some 13% since I posted on 18-Dec-14 (was RM 1.67). In another word, it has gained back 50% of the losses it incurred after the Oct market correction. Congratulations if you ever gone in around Dec time. This stock has shown volume coming in especially on today with strong buying interest. The next level it is going to test is RM1.9 before it can go up to a tougher target of RM1.97. The next two or three days will confirm if the momentum will continue, especially after today’s buyer got into T+3.
MACD is still looking very positive, and in fact it crossed the zero line on 19-Jan and the momentum has been bullish since then. The new stop loss should be at around RM1.70 if you ever consider buying into this stock now.