Monday, December 19, 2011

Kianjoo may conitnue with its prior uptrend

Kianjoo broke above its intermediate term downtrend line in November. It did not go up as it was capped by the horizontal line RM1.94-1.95. Today, it broke above this horizontal resistance on relatively thin volume. If this stock can recruit more buying support, the breakout could lead to a continuation of its prior uptrend. As such, Kianjoo could be a trading BUY.


Chart: Kianjoo's daily chart as at Dec 19, 2011_ 4.40pm (Source: Quickcharts)
at

8 comments:

  1. sangkancilMonday, December 19, 2011 8:23:00 PM

    hi alex, may i know your view on rce cap... thanks

    ReplyDelete
  2. Eric SimTuesday, December 20, 2011 11:01:00 AM

    Hi Alex,

    I am currently holding HiapTek at an average price of RM0.92. Hiap Tek has recently offered me a right issue. In your opinion, should i take up the right issue or sell the right issue?

    ReplyDelete
  3. pyhTuesday, December 20, 2011 4:54:00 PM

    Hi Alex,
    Is Sunway having a triangle breakout now? Cheers!

    ReplyDelete
  4. Alex LuTuesday, December 20, 2011 5:59:00 PM

    Hi pyh


    Sunway may have a bullish breakout at RM2.40. It may go to RM2.60.

    ReplyDelete
  5. Alex LuTuesday, December 20, 2011 6:01:00 PM

    Hi Eric

    I would disregard the current investment in Hiaptek. On the basis of the new steel mill project that it would be embarking on & the strong new management team that would be coming in, Hiaptek looks like a good stock to invest in.

    ReplyDelete
  6. Alex LuTuesday, December 20, 2011 6:03:00 PM

    Hi sangkancil

    Based on technical analysis ONLY, RCECap is to be avoided as it is in a downtrend. I would take a look at this company when it has submited its next quarterly results.

    ReplyDelete
  7. billyboyThursday, December 22, 2011 11:06:00 PM

    Hi Alex,

    Can i know what is the resistance for Kianjoo?

    looks like there are alot of trading between 2.01-2.03.

    ReplyDelete
  8. Alex LuFriday, December 23, 2011 8:01:00 AM

    hi billyboy

    The immediate resistance for Kianjoo is RM2.10 & then RM2.20.

    ReplyDelete