Another sector that is leading the current market rally is the property sector. One of the best performers is KepLand. After being in doldrums for more than three months, KepLand managed to show “ fresh signs of life” after it broke above its stubborn resistance now turned support at $3.00 with high volume.

The MACD trend indicator had a bullish crossover above its signal, in addition the 20 and 50-day moving averages had started to turn up. All these positive technical developments suggest that KepLand is poised for further upside potential. The next immediate resistance will be at $3.27 and a break above it may set sight on the key resistance at $3.43 which corresponds closely to the 50% Fibonacci retracement from its all-time high of $5.72 to the March 2009 low of $1.03. However the Stochastic oscillator is hovering above the 80% overbought level which suggests that the stock may face a short-term pull-back towards its immediate support zone at $3.00/$2.88. However a violation below it may negate the bullish tone to see KepLand tests its next stronger support at $2.73.