Monday, February 03, 2014

INSAS, KNM: What Now?

Happy New Year, Gong Xi Fa Cai and Happy Holiday to all! Bursa Malaysia Kong Hei Kong Hei by giving us a heavy selling for the past weeks :-). The good news is not all counter follow the same rhymes.

Some strong bull and upside counter are giving us an opportunities to enter with bargain price and some are selling down to cheaper price and will not rally as it already in bear mode. I have cover 3 counters previously GPACKET, CENSOF and INSAS. Which is still bull and which is bear?
 
Well, of course INSAS is still in bullish mode :-) GPACKET and CENSOF are out of my sight now. GPACKET has falling all the way down from its critical support 51/52 as well as 45/46. CENSOF still in defensive mode with trading between 50cts to 60cts. But I can sense it may drift lower to 40cts and take longer period for recovery and moving sideway within this band.


INSAS already hit my target of RM1 and retrace. Now is moving sideway and it will mostly breakout from the major resistance of 90cts in coming weeks. The important now is look at the critical support at 65cts. The price may drift lower to 70cts before it can breakout 90cts convincely. If the breakout succeed, do stay tight and look for new target of RM2! :-)


How about KNM? It has been in limelight recently with high volume and price breakout. Indeed it is interesting to see it charge more higher. KNM now is on the bullish mode and has been a confirm reversal from long downtrend overhaul since 2008. We can see more price upside for KNM and expect it to see more surprise game going forward. In order for KNM to be bullish the price need to stay above 60cts. If this is confirm than charging towards RM1 will not be a problem!


Cheers and Happy Trading and Investing.
 

2 comments:

Natalie Tijan said...


as well as 45/46. CENSOF still in defensive mode with trading between 50cts to 60cts

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Elizabeth harville said...

as well as 45/46. CENSOF still in defensive mode with trading between 50cts to 60cts.
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