GKENT – RM1.41 FIRM BUY (TECHNICAL)
(Stock Code: 3204)
George Kent Berhad (GKENT) manufactures water meters and waterworks fittings, markets industrial measurement, and designs and supplies instrumentation and process control systems. The company,
through its subsidiaries, manufactures brass extrusions, and maintains water treatment plants.
Recommendation
GKENT hit its major Wave 4 low at RM1.34 in April 2010 with grossly oversold signals. With the positive indicators like CCI, DMI, MACD, Stochastic and Oscillator supporting our upward view, GKENT has very good potential to trend higher and test our resistance areas of RM1.45 and RM1.60.
FIRM BUY (TECHNICAL) on dips for GKENT with firmer support areas at RM1.20 and RM1.41 and potential
upside target areas of RM1.72 and RM1.96. Stop-loss is at RM1.18.
by: Maybank IB
