KPS broke out of a multi-year resistance @RM1.45 amid ongoing rumours of land revaluation. The share price ended up by 11 sen to notch a new high at RM1.53 yesterday. This marks a resumption of the uptrend, and we believe that could eventually make its way up towards RM1.72 and RM1.88 in the coming weeks. Nevertheless, the indicators are heavily overbought at the moment. Hence we suggest that traders watch for a pullback towards RM1.42 before buying in.
Source: Kenanga