Oct 10, 2011

KWANTAS Trading Buy

Trading Buy – KWANTAS  Corporation Bhd Stock Code 6572

Chart wise: Kwantas Corporation Bhd (6572) – Plantations – RM1.91.
kwantas above : Kwantas Daily Technical Chart (click to enlarge)

Kwantas’s candles have followed market trend by staging a strong runup yesterday to test the upper line on flag formation still inside the flag formation.  In the process it also breached the short-term and pulling up its core momentum indicators. The lagging MACD is also improving and may cross the trigger line if there is follow through buying. 

With the indicators still strengthening, the breach of flag  formation could well become a reality and if so, there are trading buy opportunities.  However,  if the follow through
buying fails to materialize and the candles fall back inside the flag formation, the stock is an avoid. On the upside, the resistance is at RM2.00. The support is at RM1.80.

by Mercury Securites