Recall that just two days ago, we highlighted that KPS could potentially make its way towards RM1.69. Yesterday, the share price surpassed our target level with a 23 sen intraday surge (at RM1.71) before settling at RM1.65. Although the overall technical picture has yet to show signs of exhaustion, we note that the MACD is still in a “Bearish Divergent” trend. A decisive breakout above MACD-trend line would signal more sustainable gains to come. Failing which, we would not rule out the possibility that the share price could retreat back to RM1.50.

 

Source: Kenanga