KPS’ share price went up 9 sen (5.3%) yesterday, with a spike in trading volume after announcing positive quarterly results. Chart-wise, all key SMAs appear to be trending up, while the 50-day SMA has just crossed over the 100-day SMA. Key indicators are also bullish as the MACD has crossed over the Signal line, while RSI and Stochastics are hooking upwards strongly. Yesterday’s move Saw KPS breaking out of a one-year downtrend resistance line, supported by bullish indicators. As such, we expect the share price to re-test the RM1.92 (R1) level, and later RM2.14 (R2), should buying interest remain strong.

 

 

Source: Kenanga