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2009-09-16

KNM Technical Bounds Up But Forming A Descending Triangle
























After broken major or 1st support line at RM0.70 yesterday KNM bounds up to close at RM0.745 with day high at RM0.75. This is a technical bounds up and KNM likely to forming a descending triangle. If KNM really forming this patten so the price will drop to next support line at around RM0.55 before any rally or bull run. I think today KNM likely to keep the price at above RM0.75 to form a descending triangle.

I just sold out all the share I brought at RM0.695 on Monday at RM0.74 with 6.47% of profit. The profit is not mach but I get this profit without bank in any cash yet ( still in T+3 ). Base on the chart and latest update from off market, KNM share price likely to form a descending triangle and it will be risky to keep the share better keep your money.

I still holding some KNM share I buy early at RM0.75 and will sold it out by today.



Related Posting:-
  1. KNM Drop Below RM0.70 Support Line

3 comments:

Martin September 16, 2009 at 4:19 PM  

Dear Tan,

KNM is at the lowest risk due to trading at support and inflection point. Put your stops below the support.

Martin
www.traderstruthrevealed.com

lee September 17, 2009 at 11:07 PM  

Hei better keep knm share rather than selling them. The next bull run is on the way. Just wait and see!

Durian Edge September 18, 2009 at 8:44 AM  

Hai Lee

I just sale out all my KNM share, however may I know why u think KNM is on the way of next bull run?

Pls share with us

Thanks

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My investment with RM5,000 initial capital have been growing since 2005.I found the stock market appears confusing and complicated, but it is most definitely based on logic "supply and demand". However, the laws of supply and demand as observed in the markets do not behave as one would expect. To be an effective trader, there is a great need to understand how supply and demand can be interpreted under different market conditions and how to take advantage of this Off Market Transactions in KLSE.

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