Tuesday, August 06, 2013

KSeng On Verge Of A Breakout

The above daily chart of KSeng shows that the stock is on the verge of a breakout. The overhead resistance is at RM5.34. Once this level is decisively breached, the stock should be on its way to a higher level. This stock is cash-rich and land-rich as well. Most of its lands are in the Iskandar region
where land value has improved immensely in recent years.
The indicators, MACD and Stochastic are in accord with their golden crosses. If the breakout is accompanied by high volume, it (the breakout) is likely to be genuine.