TRADERS CORNER - KSTAR

Up to-date, reason for the sharp drop of the price of KSTAR about a month ago was still unclear. Even its director also couldn’t find a valid reason for the sell-down when reported to Bursah. Since then, its price was moving in downtrend until recently it started to stabilize.

Yesterday, price staged a reversal and strength rolling to this morning pushing its price to as high as 0.48. Only at the afternoon session that it succumbed to profit taking and closed in the red at 0.445 lost 0.015 from yesterday’s closing.

Based on charts, its uptrend still cannot be confirmed but its MACD, Stochastic Slow and Volume Oscillator all indicating price is gathering strength to move higher. Understandably, price of this type of share will be unstable and volatile as a lot of holders will sell into strength. But, any pull-back is also opportunity for trader to take advantage of a cheap entry.

Its supports lie around 0.44-0.415, resistance at 0.495-0.505.

Constructed and Written by Smartbiz (Click on chart to view)