KNM Price Likely Correction To RM0.70

2009-06-17

KNM Price Likely Correction To RM0.70

KNM had strongly bound up during the KLCI bull run, this share remain a popular share for most of the fund in Malaysia and foreign fund investor. All share need to correction even in the move up position.

Base on the chart RM0.70 will been a support level and I think KNM need about 1 month to drop to this level depend on how many bad news will be re-lest out this time.

Next month, KNM will be out from KLCI index 30 so it may a bit affected the share price.

4 comments:

Elvis2020 June 17, 2009 at 4:57 PM: Basically, big players want to force out retail players during this consolidation period. We may see a huge dip within a week or 2 if my assumption is rite. DONT BE TEMPTED TO BUY NOW!!! Those who bought using margin accounts will suffer most if they fail to topup. I have seen this many times before. No different now....
Elvis2020 June 17, 2009 at 6:52 PM: I will buy back KNM if down to 50 cents but depends also. I need to assess weather market will OVER REACT to any news. Who knows, maybe drop to new low? If it does, WAH,200 percent guarantee!!!!
East Point Trading June 18, 2009 at 7:25 AM: Now really not the time in share market, with all the H1N1 news and US economic status share market will drop like waterfall anytime.

I also think the share market will huge dip drop within a week time due to increasing of bad news from H1N1 around the world.

However their is a share we still can buy, it is TOPGLOV. For TOPGLOV, H1N1 is a opportunity to sale more product.
Elvis2020 June 18, 2009 at 4:09 PM: Yup, you are rite there bro. If any news on pandemic sure bet on those glove related counters. Common sense, Malaysia is producing the best medical gloves around...

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