Kenanga Research & Investment

Highlights / Stock Picks of the Day - KNM Group Bhd – Not Rated

kiasutrader
Publish date: Tue, 16 Dec 2014, 09:20 AM
KNM’s share price was up by 1.0sen (2.4%) to RM0.42 on slightly higher trading volume than the previous day. Due to the recent sell down in the stock market, KNM has hit its 1-year low of RM0.39 during intra-day trading and the stock is also trading at the bottom of the trend channel as well as below all 3 SMA’s. However, key statistics are beginning to paint a different picture as the MACD is looking to cross over the Signal line. RSI and Stochastics are showing signs of a reversal as both indicators are pointing upwards. KNM is trading very close to a strong support at RM0.39 (S1), and should key indicators remain bullish, we expect share price to test RM0.57 (R1) and RM0.68 (R2) consecutively.


 
Source: Kenanga
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