Apr 30, 2013

Short-term technical buy on dip for KPS

KPS RM0.36 Stock code 5843 

Kumpulan  Perangsang  Selangor  Berhad  (KPS)  manages  construction  projects,  develops  and  operates tourist  resorts  and  recreational  facilities  including  golf  clubs  through  its  subsidiaries.  It  also  provides educational services and manages an equestrian facility.

below: KPS Daily Chart (click to enlarge)

kps analysis


KPS  made a major daily  Wave 5 low at MYR0.87 (19 Dec 2012) with  grossly oversold and bullish divergent signals.  Most  of  its  positive indicators  above  suggest  a  strong  upside  move. It is  likely to  break into  higher territory, as it breached its key resistance areas recently in upward Wave 3 and 5 impulsive moves.

SHORT-TERM BUY (TECHNICAL) on dips for KPS, with firmer support areas at MYR1.11 and MYR1.29 and upside target areas of MYR1.40, MYR1.50 and MYR1.68. Stop-loss is at MYR1.09. 

by MIB