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keppland!
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erictkw
Veteran |
08-Sep-2009 16:14
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KEPPEL LAND - AmFraser 8 Sep 09 Current rally another sign that stock should finally meet $2.97-$3.04 price objective in coming weeks TP $2.97-$3.04 Support $2.50-60 The last trading idea at $2.69 on Aug 13 maybe a bit too early in calling for a run-up to $2.97-$3.04, although the stock did rally to a high of $2.77 the following day before taking a 10.5% fall to $2.48, just under our $2.50 support. This year’s high is $3 within the historic $2.97-$3.04 target. The earlier 3-week consolidation which culminated in a brief run-up to $2.77 had resumed after the sharp but short 2-day plunge. The stock then moved around $2.51 to $2.68 in the last 3 weeks before another spurt began yesterday to $2.70 and to $2.79 this morning. It can be argued that the rally is nothing to shout about as the $2.79 high is merely 2 cents above Aug 14 high of $2.77 and the counter may continue its consolidation pattern for another 2-3 weeks. But for the patient trader the signs are clear to get into the stock on dips to $2.50-$2.60 and hold until a rally which inadvertently emerges in 2-3 weeks. Our previous argument that the hesitantly rising/falling daily MACD then was neutralised by rising weekly and monthly with the latter making a bullish crossover with signal line is now stronger as the daily MACD has again turned up and touching signal line. After 2 false signals in Aug when it did turn up but did not cut the signal line this time could be different as its rise comes from a much lower base and there is no worry about overbought conditions. RSI is much lower at 62 this morning compared to 73 when its price was around $2.75 at end-July and 83 at early June high of $3. While this is normally seen as lacking strength, for a tricky counter like Kepland, it could be a sign that it remains oversold and may head higher. While it cannot be guaranteed that it will not fall back again to $2.50-60, before reaching the $3 area, the day Kepland will test this year’s high should be drawing closer. |
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dealer0168
Elite |
08-Sep-2009 11:32
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I thk may overshoot $3 this week. |
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Peg_li
Master |
08-Sep-2009 09:24
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This baby is really a good one,perform very good yesterday and today! hope it continue to climb up! |
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