The market is dominated by bears at the moment, and we have 3 invested stocks triggering their respective stop-loss level.

· HARBOUR (Stopped-out) fell 17.0 sen or 6.83%, to settle below its 20-day and 50-day SMAs yesterday, dragged by continuous poor sentiment in the local market. Recall that we issued a “Trading Buy” call on HARBOUR on 18 June when the share price broke out from a “Flag” chart pattern. Technically, all the key indicators are still heading down with no reversal signals being observed. With the near-term outlook remaining bearish coupled with share price sinking below our stop-loss level, we are stopping out on HARBOUR and will continue to monitor the stock until the technical scene turns favourable again.

· CENTURY (Stopped-out) dropped seven days in a row after it hit an all-time high of RM1.14. The technical picture turned negative and the share price broke below all SMAs. Indicator-wise, both RSI and MACD are heading south, while Stochastic has dipped into oversold territory. We are forced to stop-out on CENTURY as the share price hit the stop-loss level of RM0.895. The immediate resistance level is capped at RM0.895 (R1), while the immediate support level could be found at RM0.82 (S1).

· Also, we are stopping out on PWROOT (Stopped-out @ RM2.28) which we had issued a “Trading Buy” call on 7 August 2015 backed by the share price broke above the key resistance level of RM2.43. With the poor market sentiment, the share price did not manage to hold above RM2.43 level. Key momentum indicators are trending downwards, suggesting the strong selling pressure. Thus, we advocate investors to stay at the side lines, awaiting for strong rebound signal to re-enter this stock again. 

Source: Kenanga Research - 13 Aug 2015