KNM Technical Bounds Up But Forming A Descending Triangle

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:-

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!
East Point Trading 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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