KimLun may have a bullish breakout

KimLun is a newly listed construction company specializing in infrastructure and building construction, project management, industrial building systems (IBS) and manufacture of pre-cast concrete products. It reported an EPS of about 11-12 sen per quarter.

From the chart below, we can see that KimLun has broken above the horizontal resistance of RM1.70. Its likely target is RM2.00.


Chart: KimLun's daily chart as at Jan 6, 2011 (Source: Quickcharts)

Based on bullish technical breakout, KimLun could be a trading BUY.