Wednesday, December 24, 2008

KNM GROUP BERHAD. A GOOD BUY AT RM 0.40 ?

Today the market was quiet. Nothing really happen. It just that Green Packet Berhad is up almost 50 percent already. Today the counter went up another 19 cents to close at RM 1.07 per share.

I didn't expect it to shot up that fast. At the moment the P1 W1MAX business is growing everyday.

KNM Group Bhd a Malaysian oil and gas equipment company. Lately KNM share prices has been getting a lot of support when ever it reach RM 0.40 per share. A check on Bursa Malaysia website stated the company is conducting a huge share buy back program.

Recently the company accumulating about 3,000,000 units total number of shares. Until today they have a total number of shares retained in their treasury 36,290,200 units. With this kind of share buy back by the company, it is a good time to accumulate and follow the bandwagon.

With this kind of support, I would suggest that this is a good level to accumulate. Based on the charts suggest that this counter is already moving out of the downtrend channel and now KNM is moving side way.

It appear that this counter was building up it base before any significant move is being made in these few days.

Anyway I would like to wish a Merry Christmas to all my readers and my friends. To all the bloggers friends around the Malaysia and especially to all the share market bloggers.

* MERRY CHRISTMAS *

3 comments:

zahari said...

Jackie..

Thanks for your highlight on GPacket. How further she will up?

Will accumulate KNM soon. Still good at 40.5 sen.

Have a nice holiday to all.

CP said...

Merry Christmas to you, Jackie.

I bought KNM at 0.395, my last bullets for this counter.

GPacket being manipulated? Not so common movement, so I wont touch.

Hear from you again.

TEH

alexlee said...

Gpacket is in overbought zone by now, it may take a breaks very soon. Its price move too fast in this 4 days. A sharp profit taking is likely to take place.
For KNM, it is still no buy signal yet even short term buy call.
Good Luck