Kenanga Research & Investment

Highlights / Stock Picks of the Day - Keck Seng Malaysia ("KSENG") – BUY

kiasutrader
Publish date: Wed, 27 Mar 2013, 09:34 AM

 

KSENG staged a strong rally earlier in the month when the share price rose from RM4.22 to RM5.33 within a matter of days. It wasn't surprising that the share price subsequently consolidated sideways, as the investors paused to digest the recent run-up. Yesterday, KSENG's share price advanced 23 sen to close at RM5.29. The bullish move had resulted in a classic "Bullish Pennant" breakout on the daily chart, and this marks a continuation of the uptrend. "Bullish Pennants" usually mark the half way point of an overall move. Hence, we reckon that the share price could potentially extend its gains towards the RM6.19 "Flagpole" measurement 
objective. Traders who intend to buy into the stock should set a target price 4 bids below RM6.19. Meanwhile a stop-loss of RM4.98 should also...
 
Source: Kenanga
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Be the first to like this. Showing 4 of 4 comments

wklum22

Does anybody know why kseng sitting on the egg so long .we waiting for it to hatch

2013-04-23 09:43

sephiroth

They usually announce dividend on 24-27 April every year but puny dividend. They might give some of the egg out

2013-04-23 09:54

iafx

watchout the cold wind, getting stronger seems... rather stay sideline & wait for the sun to come out? :)

2013-04-23 09:56

Lim AS

Kseng management has no future plan n to unlock its assets ans its share values . The management is worried mad to paying high premiums if land banks were to be evaluated to reflex it's actual value. They preferred to do nothing and waiting for opportunities until such time most of the lands will be grabbed by others thru acquisition or annexation. They r more comfortable to draw their directors fees yearly when the coffer is full n pay pittance to minority shareholders. This was what had transpired in the 43rd AGM held on 27th. june 2013.

2013-06-28 21:30

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