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Round and round it goes, who is the next to run?
 
Singapore

Kepland
 
Towards the end of May, properties sector has been pushing STI higher and higher. After a brief rest, we expect property counters to continue their rise if STI is to break the 2400 resistance level. Of the properties counter, Kepland has high upside potential. After forming a bearish shooting star candlestick on June 2nd, Kepland has been in profit taking mode for one week. It then formed a bullish harami which is a bullish candlestick reversal pointing to the upside. With a confirmation candle seen on June 10th, Kepland has potential for more upside. However using Stochastic indicator, Kepland has formed a higher high with Stochastic showing a minor lower high, a bearish divergence. As a minor bearish divergence is seen, investors do have to be cautious. Could this be an indication that it will finally break the $3.00 resistance? If Kepland can break the $3.00 resistance, do expect a stronger resistance at $3.27. Strong support can be seen at $2.25 with key support at $1.92.
 
 
This article first appeared in Smart Investor, August 2009
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