News. Singapore's GKG Buys Into Kinstel

Extract from TheStar:
KUALA LUMPUR: Singapore’s GKG Investment Holdings Pte Ltd has emerged as a substantial shareholder of Kinsteel Bhd with a 5.1% stake.
A filing with Bursa Malaysia showed GKG had acquired 46.36 million shares as of April 16.
Kinsteel share price hit a 52-week high of RM1.66 on Jan 8 this year while its 52-week low was 86 sen on Aug 17 last year.
The share is currently trading at RM1.34 and its price-to-earnings ratio is 8.95 times.
According to Bloomberg data, eight research houses have a buy call on the counter. Aseambankers Equity Research has a target price of RM1.45 as at April 10 while SJ Securities Research has a target price of RM2.150, also as at April 10.
Former stockbroker Goh Geok Khim, who founded GK Goh Securities, is the chairman and managing director of GK Goh Holdings Ltd.

Kinstel. Possible Pennant Formation & Breakout?

Possible Pennant formation & breakout? Well, the market has the final say.

Intermediate support : 1.29/1.30

Take note, S2 : 1.20

News. Seadrill Buys 10M More Sapuracrest Shares

Extract from TheStar :
Tuesday April 15, 2008
KUALA LUMPUR: Seadrill Ltd bought another 10 million shares of Sapuracrest Petroleum Bhd in early April, increasing its total shareholding to 203.82 million shares.
A filing to Bursa Malaysia showed the Oslo Stock Exchange-listed Seadrill, which is involved in offshore drilling operations, bought 2.50 million shares of Sapuracrest each day from April 7-10.
After the recent acquisitions, Seadrill’s shareholding in Sapuracrest rose to 17.44%. The share price was trading between RM1.29 and RM1.41 on those days.
Sapuracrest’s share price surged to a 52-week high on July 26 last year while it hit a 52-week low of 98 sen on March 10. At the current price of RM1.38, it is trading at a price-to-earnings ratio of 18.06 times.

Trading Ideas. Ramunia

Proposed Entry : 1.34
Stop : 1.31
S1 : 1.32
R1 : 1.39
R2 : 1.44/1.45
On daily charts : rising MACD, about to rise fast stochs. Absence of significant volume though. Price have been trending sideways since 25/03/2008.

Sheer Driving Pleasure

Market trading sideways.

Boring? Indulge in the sheer driving pleasure.

With amber-red dial colour as eye candy, 50-50 weight distribution, rear wheel drive and smooth linear power delivery, u can't be blamed for taking the longer way to your destination. Pure gratification. Or as some might say.."the heartbeat" factor.

Stockwatch

Watching :
1. Sapcres
2. Kinstel
3. Ioicorp
4. Dayang (soon to be listed)

KLCI. Brief Comments

KLCI currently seems to be still moving sideways. A break above 1263 in the immediate term and subsequently 1278 is most welcomed for more upside possiblity. A sideways trading market makes buying or selling decision more indecisive.