KPJ, is time to accumulate

>> Tuesday, September 28, 2010

Technical Outlook
KPJ has been in my radar for the past 2 years. Its share price movement has been very consistently trap in bullish price channel(continuation trend).

It start with a low of RM1.20 at August 09, hitting a high on January 10(A), April 10(B),July 10(C). However, every high follow by retrenchment with price drop back to support on February 10(D), May 10(E) and 3 days ago(F).

MACD also show a positive rebound where it's about to cross over the signal. Any rebound from under zero lines(the centerlin) is pretty safe. 



According to Price Channel, subsequent touching of support during D and E offer a good buying opportunity.
I think this time will be the same and we should wait no time to ACCUMULATE.

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