Technically KINSTEL has dropped below RM 1.20 support line yesterday, looks like a breakdown. If it is a breakdown, it means the serious correction will just be started from this point on.
But we have to consider the fundamental as well before we make any conclusion from the chart reading on a single counter. For us, chart reading is only a guide to gauge where we stand, and how much risk compensated with opportunity at a single point of time.
RM 1.09 is the next support for KINSTEL as per chart shown. Those who have positive views on Perwaja Steel IPO may consider KINSTEL as alternative to Perwaja Steel listing as application is closed.
But we have to consider the fundamental as well before we make any conclusion from the chart reading on a single counter. For us, chart reading is only a guide to gauge where we stand, and how much risk compensated with opportunity at a single point of time.
RM 1.09 is the next support for KINSTEL as per chart shown. Those who have positive views on Perwaja Steel IPO may consider KINSTEL as alternative to Perwaja Steel listing as application is closed.
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