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)
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11 comments:

  1. UnknownTuesday, March 23, 2010 2:51:00 PM

    Hi Alex,

    Now the share for Kseng is 5.99,can we still buy it ? how much can it go ?please advice

    ReplyDelete
  2. UnknownTuesday, March 23, 2010 2:53:00 PM

    Hi Alex,

    How ablot measat ,since it have going so much high ,can we still buy it ?

    ReplyDelete
  3. Alex LuTuesday, March 23, 2010 5:27:00 PM

    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.

    ReplyDelete
  4. Mother of TwoTuesday, March 23, 2010 5:31:00 PM

    Hi Alex,

    I bought into Kseng at RM5.42 after reading your blog dated 17 March. Thank you for posting the information.

    Cheers!

    Grace

    ReplyDelete
  5. ryanTuesday, March 23, 2010 5:34:00 PM

    Hi Alex,

    After bullish breakout for fimacorp, today kfima had surged to new high. Would you call for HOLD?

    ReplyDelete
  6. Alex LuWednesday, March 24, 2010 2:49:00 PM

    Hi High Society,

    I did not actually call a BUY on KSeng in the earlier post, but... hey who is complaining??? Good luck!

    ReplyDelete
  7. Alex LuWednesday, March 24, 2010 2:50:00 PM

    Hi Ryan,

    KFima's next strong resistance is at RM1.15. You may like to aim for that level for some profit-taking.

    ReplyDelete
  8. mclimWednesday, March 24, 2010 10:53:00 PM

    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

    ReplyDelete
  9. Alex LuThursday, March 25, 2010 1:26:00 PM

    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.

    ReplyDelete
  10. UnknownThursday, March 25, 2010 2:04:00 PM

    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??

    ReplyDelete
  11. PEGGY MethodSunday, April 04, 2010 10:18:00 PM

    Trevor,
    I will keep. The Edge report shows the NTA can easily worth RM17

    ReplyDelete