KNM was down 6.0 sen on Monday on the back of higher trading volume continuing its two-month long downtrend. Chart-wise, there appears to be a black ‘Marubozu’ candlestick, insinuating the bearish downtrend. Key indicators are also weak as the MACD is moving south below the Signal line, while RSI and Stochastics are also heading in the same direction. KNM had broken down from a strong support and we expect the share price to re-test the RM0.86 (S1) level should the bearish sentiment persist.
Source: Kenanga
trincylim
Should we buy at 0.86?
2014-09-18 22:16