Technical Analysis May 2011: KULIM (2003)

KULIM (MALAYSIA) BERHAD

Observation From Chart:

KULIM is trading within tight range swing from RM3.20 to RM3.40 & forming Bolinger Band Squeeze.

RM3.40 is strong resistant level, attempted a few round unable break up this level BUT retrace down.

RM3.20 is strong support level, it do attempted a few round & rebound back.

On Friday, 27 May 2011, Kulim reported their Quarter result.

Kulim’s earnings jumped 105% to RM127.10 million in the first quarter ended March 31, 2011 (1QFY11) from RM61.89 million a year ago.

Its revenue climbed 34% to RM1.657 billion from RM1.234 billion while earnings per share were 10.12 sen compared with 16.40 sen a year ago.

Source:
http://www.theedgemalaysia.com/business/187326-stocks-to-watch-sime-ijm-lag-alam-maritim-ta-ann-kulim.html

With the strong positive Quarter Result, will it break up bolinger band squeeze?

If break up the bolinger band, next resistant would be RM3.97 or RM4.00 physiology level.

Let watch closely for entry opportunity.

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