In tandem with better trading volume, KSL recently garnered investors' interest as it jumped 3.0 sen or 1.4% to break out from its 2-month trend channel resistance level. According to our in-house property analyst, its ability to price products competitively because of its low land cost, resilient earnings and cheap valuation puts the company under the limelight. Technically speaking, KSL’s outlook seems compelling from here as it trades above all its key SMAs. Indicator-wise, both Stochastic and RSI are trending upwards suggesting buying momentum is building up over the past few days. With a follow-through in buying interest, we reckon that the share price could ride on the bullish momentum to retest its all-time high of RM2.48 (which is also our ‘Flagpole’ measurement objective) in the mid-term. Meanwhile, we are placing a stop-loss level at RM2.15 (3 bids below the 20-day SMA level).

Source: Kenanga