KNM (KNMP:KL) bags RM36mil job in Egypt

KNM (KNMP:KL) bags RM36mil job in Egypt

KNM (KNMP:KL) bags RM36mil job in Egypt

KNM Group Bhd said an indirect wholly-owned subsidiary FBM Hudson Italiana SpA has secured a RM36.14mil contract in Egypt.

The contract, awarded by Technip Italy SpA, was for the design, detailed engineering and fabrication of air cooler heat exchangers at the Middle East Oil Refinery in Alexandria.

KNM told the stock exchange in a filing today that the purchase order is expected to be completed within 14 months.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 0.20.

The projected upper bound is: 0.34.

The projected lower bound is: 0.27.

The projected closing price is: 0.30.

Candlesticks

During the past 10 bars, there have been 5 white candles and 1 black candles for a net of 4 white candles. During the past 50 bars, there have been 21 white candles and 13 black candles for a net of 8 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 87.0130. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 81.78. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 39 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 120.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 6 period(s) ago.

Rex Takasugi – TD Profile

KNM GROUP BHD closed up 0.005 at 0.300. Volume was 159% above average (trending) and Bollinger Bands were 231% wider than normal.

Open High Low Close Volume___
0.300 0.310 0.295 0.300 104,157,696

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period     50-period     200-period
Close: 0.24 0.20 0.14
Volatility: 182 110 107
Volume: 130,783,640 47,202,056 24,492,884

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

KNM GROUP BHD is currently 114.8% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect very strong flows of volume into KNMP.KL (bullish). Our trend forecasting oscillators are currently bullish on KNMP.KL and have had this outlook for the last 4 periods. Our momentum oscillator is currently indicating that KNMP.KL is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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