Apr 7, 2010


KNM stock code 7164

Chart wise : Sudden surged in volume …….
KNM had on 6/4/2010 surged thru RM0.73 hurdle to a day high of RM0.77 before settled at RM0.77.
KNM-latest-chart KNM chart: click to enlarge

Price Direction ….. 
In view of  an increase  in market participation, the stock could be expected to trade sideways in coming day(s) with an overhead resistance pegged at  RM0.78. A small area between RM0.74 and RM0.78 would likely be formed before the stock making attempt(s) to push thru RM0.78 resistance. 

What to watch for …. 
A turnaround of prices to close below RM0.715 level would likely see an immediate short term reversing direction in the stock.

source: Mercury Securities