Friday, February 12, 2010
KNM is a privatisation target by its Grp Managing Director priced at 90 sen, which form a short term target. After a initial surge to 85 sen on announcement day, it had corrected in line with overall market. Technically, KNM now moving sideways between 70 sen to 87 sen. Given 90 sen assuming the takeover will materialised, the upside target would be at 87 sen, building opportunities to buy on pullback with strong support at 76 sen.