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Hot Stock Kimlun gains 2.08% on renewed buying interest
by Cals Thu 10 Dec 2015, 21:53
- Hot Stock
[size=28]Kimlun gains 2.08% on renewed buying interest
By Surin Murugiah / theedgemarkets.com | December 10, 2015 : 9:38 AM MYTKUALA LUMPUR (Dec 10): Shares of Kimlun Corporation Bhd ([You must be registered and logged in to see this image.] Valuation: 3.00, Fundamental: 1.70) rose 2.08% this morning after AllianceDBS Research said renewed buying interest had emerged in Kimlun and that Kimlun had on Dec 9 traded higher to RM1.45 before closing near the day’s high at RM1.44 (up 6 sen or 4.34%).
At 9.20am, Kimlun rose 3 sen to RM1.47 with 365,900 shares traded.
In its evening edition yesterday, the reseach house said Kimlun continued to trade above the 20-day and 50-day moving average lines in the last 9 days.
“Following the up close on Dec 9, the stock is expected to move higher again with immediate hurdle at RM1.45 in the coming few days.
“A crossover of RM1.45 should see further price rise to the next overhead resistance zone, RM1.52 – RM1.55.
“The support is pegged at RM1.37. A fall below RM1.37 would put pressure on the stock down to the subsequent support zone, RM1.30 – RM1.33,” it said.
AllianceDBS Research said stock volume traded on Dec 9 was 1.26 million shares compared to the 3-month average volume of 220,000 shares.
The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.
It said the relative strength index indicated that the stock was currently in the neutral zone.
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