AusGrp (technical)

AusGrp: UOB Kay Hian recommends take Profit from previous Technical Buy Call. Note that the stock was featured as a technical BUY when it opened at $0.37 on 11 Jul 12. It has hit an intraday high of $0.575, exceeding the target of $0.41 in the recent trading sessions. The stock has since returned 55.4% on its last closing price. Some profits could be taken off the table as prices are near the potential resistance at S$0.58 and its Stochastics indicator has made a bearish crossover at the overbought region.