K Seng Seng Corp (KSSC MK) Technical SELL with +19.5% potential risk Last price : RM0.520 Target Price : RM0.455, RM0.435 Resistance : RM0.580 Stop-loss: RM0.585 SELL with a target price of RM0.435 with a stop loss placed above RM0.585. Following a strong breakout on 12 Mar 14, KSSC's share price surged to the high of RM0.580 on 14 Mar 14 but failed to sustain the buying momentum and closed lower at RM0.520 on the same day. Given a higher trading volume of 1.4m shares (vs 20-day average of 0.3m) recorded whereas the share price registered a "shooting star" pattern, suggesting last Friday's move could be considered a "buying climax", KSSC may see a downward move in the near term. This view is consistent with a bearish crossover in Stochastic while the DeMarker line is already treading deep in overbought territory. We expect KSSC to retrace lower toward the 50.0% and 61.8% Fibonacci retracement levels and potentially hit the previous base of RM0.435 in the medium term.
I looked at the trend of this stock, it started moving with volume since Feb/2014 from 0.345 up to 0.65, it has appreciated almost 100%, and its dividend rm39.50 is probably based on land sales last year, but someone is collecting it now, you can see its range bound between 0.60 and 0.65 within 3 months.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
MAMEE MONSTER
428 posts
Posted by MAMEE MONSTER > 2013-11-11 20:42 | Report Abuse
怎么都没有声音了呢?