Chart 1: KSeng's daily chart as at Mar 23, 2010_12.30noon (Source: Quickcharts)
Chart 2: KSeng's monthly chart as at Mar 1, 2010 (Source: Tradesignum)
Tuesday, March 23, 2010
KSeng surpassed the all-time high!
In the morning session, KSeng has broken above its all-time high of RM5.70 which was achieved in early 2007 (see Chart 2 below). This followed yesterday's breakout above its recent high of RM5.56-57 recorded on March 15 (see Chart 1 below). The upside breakout above the all-time high of RM5.70 means that the feared double top reversal anticipated in the earlier post did not materialize. In technical analysis, a break above the all-time high is a very bullish signal and one may consider KSeng as a trading BUY.
Chart 1: KSeng's daily chart as at Mar 23, 2010_12.30noon (Source: Quickcharts)
Chart 2: KSeng's monthly chart as at Mar 1, 2010 (Source: Tradesignum)
Chart 1: KSeng's daily chart as at Mar 23, 2010_12.30noon (Source: Quickcharts)
Chart 2: KSeng's monthly chart as at Mar 1, 2010 (Source: Tradesignum)
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11 comments:
Hi Alex,
Now the share for Kseng is 5.99,can we still buy it ? how much can it go ?please advice
Hi Alex,
How ablot measat ,since it have going so much high ,can we still buy it ?
Hi phkoay,
You have to decide whether you want to get into the KSeng play. It is a risky venture and it is only for traders with strong hearts.
As for Measat, I will be posting on it shortly.
Hi Alex,
I bought into Kseng at RM5.42 after reading your blog dated 17 March. Thank you for posting the information.
Cheers!
Grace
Hi Alex,
After bullish breakout for fimacorp, today kfima had surged to new high. Would you call for HOLD?
Hi High Society,
I did not actually call a BUY on KSeng in the earlier post, but... hey who is complaining??? Good luck!
Hi Ryan,
KFima's next strong resistance is at RM1.15. You may like to aim for that level for some profit-taking.
Hi Alex,
I have bought KSeng at RM6.03 after reading your blog on KSeng surpassed the all-time high. May i know what is the next resistance and support level for KSeng.
Thanks.
Regards,
mc
Hi mclim,
When a stock has surpassed its all-time high, you would not find any resistance on the chart. The immediate support is the all-time high that was taken out, which in the case of KSeng is at RM5.70.
Alex,
I am always a big fan of KSENG. Bought the shares 4 years back after i went through their financials. Do you think it is time to take profit? or this counter has a much much more stronger fundamental than i expected??
Trevor,
I will keep. The Edge report shows the NTA can easily worth RM17
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