KPOWER Bhd (code:7130) made a strong advance towards the 50-day simple moving average (SMA) yesterday, which ended the sideways trading it has been seeing since March. The stock also broke through the descending trend line that began since it fell off its peak on Jan 19. However, a more convincing signal of a sustained recovery would be a bullish crossing of the 50-day SMA, which would signal strong bullish sentiment and increased buying interest as the stock resumes its recovery. Failing to do so, the share price could succumb to profit-taking and return below the descending trend line, indicating sustained downward pressure. Reinforcing this view, the short-term 14 and 21-day SMAs remain in horizontal positions and are uncommitted to a rally. As such, further positive sessions would help to turn the averages in a favour of an uptrend. Overhead, the counter is eyeing a resistance of RM2.31, its most recent high that in surpassing would confirm the resumption of a short-term uptrend. Higher still on the chart is the next resistance of RM2.61. The counter saw a return of trading volume yesterday, arriving at levels not seen since early March. The technical indicators were also bullish with the slow-stochastic advancing past 60 points while the 14-day relative strength index edged higher into overbought territory at 71 points. The latter indicator remains healthy and can push higher still into more extreme overbought levels. The daily moving average convergence/divergence line has also crossed above the signal line and is pacing higher, reflecting the onset of a bullish momentum. To the downside, support is found at the stock’s recent low of RM1.85. Next support is found at RM1.75, a negative breach of which would see the counter return to a correction trend. The comments above do not represent a recommendation to buy or sell.
Analyst TP is 2.31. What's going to happen is, it's going to outperform, the TP is going to be adjusted up and the rest will start chasing.
KPOWER's principle activities are Energy & Utilities, Properties, Logistics and Healthcare & Technologies. If these are not the sectors to be focusing on for future growth, then I don't know what is.
Sell/ Hold when the price retraces during bullish market. Buy when the price retraces during bearish market.
Kpower breakout the moving average line so it needs to consolidate, it most probably not fall back by standing on the strong resistance breakout TP 2.0, today many index weak so just wait for better market will up again. hopefully the BB will open up for next week for further expansion.
@Ancient Liew, not only Kpower drop, all market drop at the same time, just cut lose or sell thats it. if later rebounds and all sell it already who s gonna blame? are you going to compensate the lost? Just share any helpful info here, "hahaha" is not gonna help
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
Larryloh
41 posts
Posted by Larryloh > 2021-04-09 22:11 | Report Abuse
Very tired of taking already . Want but then buy , scare don’t buy , pls don’t talk bad if you don’t buy .