Yes, there were yoyos but ZL never lost faith that crude oil prices will recover. Same views for O&G stocks in Bursa Malaysia ........ Prevail, we shall
Recently, oil stocks peaked in early June and have been trending lower ever since. Again, same views for O&G stocks in Bursa Malaysia. But they're rapidly approaching the oversold level. Rebound. it shall.
So it appears today that it isn't the time to be bailing out but to be reconsidering where money can be made and being ready for whatever opportunities are impending.
"Get Ready, Get Set, Not Quite Yet!"
And there is nothing more royal in KLSE than our "Raja Saham Minyak" 7164 KNM which had being going through a consolidation phase for the 3rd week running off RM1.09 high 08 June 09 >>> till RM0.745 low on 23 June following up with a rebound closing 29 June at RM0.835.
According to ZL's personal rules of consolidations, 30% is a cut off mark for a normal stock without the frills, thrills & spills of unforeseen circumstances. In other words, based on simple trading, profit takings, support & resistance, KNM has found bottom at recent 74.5 sen. All recent FYE or quarterly PL had presumeably factored into it's prices.
According to ZL's personal rules of consolidations, 30% is a cut off mark for a normal stock without the frills, thrills & spills of unforeseen circumstances. In other words, based on simple trading, profit takings, support & resistance, KNM has found bottom at recent 74.5 sen. All recent FYE or quarterly PL had presumeably factored into it's prices.
So where do we go from here? TARGET ..... that's the most FAQ b4 an entry and KNM is no exception. Answer in KNM chart oledi hehehe!!!
Most KLSE O&G stocks are potentials >>> RANHILL, PETRA, ALAM, EPIC, VASTALX, DAYANG, SAPCRES etc etc >>> Good investments!!!
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