Bursa Malaysia Stock Watch
Kinsteel Berhad : It Could Lead A Retest Of RM0.97 Soon? - 05/08/2010
kltrader
Publish date: Thu, 05 Aug 2010, 10:33 AM
kltrader
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Kinstel closed firm at RM0.915 after recapturing the RM0.86 level earlier.
Kinstel fell off the previous uptrend in Jun 2009, and moved into a fresh sideways trend after it rebounded to above the RM0.86 level in Jul 2009. The stock has since fluctuated between RM0.86 and RM1.08 levels until May 2010, when it plunged to a low of RM0.77 on strong selling pressure. However, following a series of recovery attempt in the past few months, the stock finally regained the RM0.86 level on Monday. It closed Wednesday at RM0.915 with relatively firm buying support.
Kinstel fell off the previous uptrend in Jun 2009, and moved into a fresh sideways trend after it rebounded to above the RM0.86 level in Jul 2009. The stock has since fluctuated between RM0.86 and RM1.08 levels until May 2010, when it plunged to a low of RM0.77 on strong selling pressure. However, following a series of recovery attempt in the past few months, the stock finally regained the RM0.86 level on Monday. It closed Wednesday at RM0.915 with relatively firm buying support.
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