KGI : A breakout above 2.72 places 2.80 as the first target.
February 15, 2011 Leave a comment
KGI has near term resistance at 2.72, with a breakout here pointing to 2.80 as the VST target. The stock is currently at the high if the session at 2.70 and has a decent buy side bias to the flows. First support, albeit not very strong is at 2.68, and if this level fails due to market wide profit taking, it probably won’t go down too heavily given support from 2.63 to 2.66. Like many stocks, if the SET itself helps out and manages a convincing break above 973 there could be a spike here to 2.78-2.80, but if 973 holds from today, then it’s back to the supports mentioned above.