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Technical Stock Pick - KSL Holdings Bhd
Technical Stock Pick -KSL Holdings Bhd
Closed: 63 sen
Resistance: (R1) 69 sen /(R2) 75 sen
Support: (S1) 57 sen /(S2) 54 sen
KSL Holdings Bhd (5038) rose 10 sen to 63 sen on Friday to breach the 100- (pink line) and 200-day (orange line) moving averages with sudden spike in trading volume.
Technical indicators are encouraging with the MACD rising above its signal line and the RSI has just entered the overbought zone.
After Friday’s surge, the stock could pull back on profit taking but has a chance to extend its rebound if share price sustains above its immediate support of 57 sen marked the 200-day moving average (orange line).
For the downside, we advise traders to cut loss if the price falls below the second support of 54 sen, marked by the 100-day moving average (pink line).
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
