mcbaomc,Incidentally KKB,another Sarawak based co.is under my short term trade portfolio watchlist,but I have yet to move in to buy.I did day trade on Smetal,Scable and made some profit.They are relatively good co.with potential growth.The only problem is low liquidity -low vol.Price will shoot up once in a while but drop as equally fast due to lack of follow-up buy.I bought Salco today (+10sen).I anticipate more upside next week.I may move into Hevea(+1.5sen today)on Mon if the vol impress me.
If u or anyone are interested in day trade or short term (5 days)trade,I am happy to share will u a contact which gave u a daily recommendation prepared by a team of elite screener.My success rate is more than 90% based on my own pick from the daily stock recommendation.
I unload my holding near 52 week high. I think there is no upside for this stock... you may chase downward spiral for long term. The management is reliable and credible.
KKB Engineering (KKB MK) Technical BUY with +18.1% potential return Last price : RM2.54 Target Price: RM2.84, RM3.00 Support : RM2.42 Stop-loss: RM2.40 BUY with a target price of RM3.00 with stop loss placed below RM2.40. KKB’s share price has been trading below the medium-term downtrendline following a correction from the high of RM2.84 on 31 Oct 13. However, yesterday’s gap-up on the back of a higher trading volume of 0.56m shares (vs 20-day average of 0.1m) indicates a genuine breakout. A positive albeit marginal closing above the “cloud” should kick-start a new up-leg backed by a surging momentum as flashed by an uptick in RSI. Moving forward, we expect a gradual climb toward the previous high of RM2.84 which, if breached, may spur fresh buying interest. We peg our upside target at the 1.38x Fibonacci extension level of RM3.00 over the medium term.
Mondrian Investment Partners Limited, the number 4 or 5 major shareholder has been increasing its stakes in KKB in the open market. Smells like something is brewing.
wow. even after Mondiran Investment Partners Limited whacked 500,000+ @ RM2 last week, it still went down today, due to lack of contract wins. Come on KKB, KKB better buck up in securing big contracts, otherwise there will be more disposals by retailers.
lol logitrader, the major owners acquiring bits and pieces out of a whole big pie does not mean much. For the past few years till now, they only buy like a mere 5,000 units, at most, 10,000 units once a month or once every quarter. What we need is these major shareholders to scoop up in bulks of more than RM100,000 in one or two sitting, otherwise small fish like us will just need to sit and wait out for other big fish.
On a related note, Moridian did indeed bought a huge chunk at RM2.00, but that didnt do anything, in fact, right after they bought more, the price went down to a low of RM1.60.
In fact, one of the top 30 shareholder for many years had just sell off most of his stakes when the price hit RM2 to RM2.70. Just take 2012 and 2013 annual report and compare the top 30 shareholders and you will see a missing person in 2013.I'll give you a hint, his last name is Tan. Malaysia's unknown warrant buffet...his name appears in the top 30 in most good quality stocks (Pintaras/ Pelikan, etc)
Nevertheless, for those who manage to buy at RM1 to RM1.60, just enjoy the dividend yields yeah. Those who bought at RM2 and above, good luck to you in averaging it out or waiting it out....for bigger fish to come.
Logitrader, seems we have some common shares as well (Pintaras), haha.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
danielsoh
110 posts
Posted by danielsoh > 2011-05-19 00:57 | Report Abuse
target price 2.50 sen