Sunday, December 7, 2014

Technical Analysis Dec 2014: KNM (7164)

KNM GROUP BERHAD 

Observation from Chart:-

KNM have been retrace down 60.3%.

Will it rebound @ RM0.45 support level ?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K on oversold stage, pending trigger BUY call.

Immediate support @ RM0.45
Subsequent suport @ RM0.425 level.

Immediate resistance @ RM0.52 level.
Subsequent resistance @ RM0.57 level.

From technical view, KNM is forming lower low & lower high, market sentiment is bearish.
NO bullish reversal been form yet.

Let's watch closely for rebound opportunity.

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