KPS & Puncak- The Water Theme Play Maybe Back

After the water shortage over the weekend, the market is convinced that the impetus for a quick resolution to the Selangor water concession stalemate must be at hand. With that, KPS & Puncak - the two stocks most closely tied to the Selangor water concession privatization or buyout play - achieve their bull breakout this morning. KPS broke above its flag formation at RM2.10 while Puncak broke above its triangle at RM2.85.


Chart 1: KPS's daily chart as at Sept 5, 2013_9.30am (Source: Quickcharts)


Chart 2: Puncak's daily chart as at Sept 5, 2013_9.30am (Source: Quickcharts)

With this breakout, these stocks may continue with their prior uptrend.

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, KPS & Puncak.