KNM - Long Cold Winter
KNM close at RM 0.395 on 23-Dec-2008 and base on the chart, the share was still in distribute even the price drop to news low. No sign of accumulation after 16 days of trading and price continue falling. This is the first time I see the chart drop for that long and in below W% -80 for so long.
As long as oil price in below USD 60 I think KNM share will unlikely to bounds up. News like project cancel may happen if oil price continue to fall. However the current oil price is vary unhappy for OPEC member and I think they will do something to make the oil price to short up to USD 60 again and as soon as posible.
For near future, KNM will in long cold winter.
3 comments:
My friend, like you said, if crude oil move to USD60 per barrel then KNM will move. Just waiting to see if Goldman Sach prediction of USD25 per barrel achieved. You should have switch to GPACKET, got 40% return lor...
Halo Elvis2020
I remember early of the year 2008, Goldman Sach also predicted oil price will at USD100 per barrel at end of 2008, during that time oil price is on the way up. This show that early Goldman Sach prediction was wrong.I hope they will wrong again this time.
Thanks for your info about GPACKET, I had brought some during the price RM0.72 on 19 Dec 2008 and just sole at RM 0.98 on today. Thanks you alot.
If crude oil do dip to USD25, then i will buy KNM coz the only way for oil price to go is UP. In other word, hit bottom oledi. Anyway, for GPACKET, when up to fast, recent high of RM2.81 will be retested but i am scare if it touch that level too soon. Oklay, return of 360% should be good but if dips several times can increase return to 1000%...since you are the expert in technical analysis, what do you think?
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