Thursday, March 3, 2011

Technical Analysis Mar 2011: KENCANA (5122)


KENCANA PETROLEUM BERHAD

Observation From Chart:-

KENCANA seem like forming symmetrical triangle.

If able break up the upper triangle line, may look for RM2.76 level for profit target (around +10% profit)
If break down the lower triangle line, it might retrace down to RM2.22 level (around -10% loss)

Most analysts will take a position once the price breaks through the top line of the triangle with increased volume.

Let watch closely for entry opportunity.

Remark:
Pls buy at your own risk & consult your broker b4 make any buy or sell order!!!

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