KSL ended Thursday trading with 12 sens gain at Rm3.97 with high volume. If it can break Rm 4.00 and move higher, that will be its mini-wave 7 of sub-wave iii.
It reported a strong quarterly earning of 20.5 sens a share with Net assets at Rm3.70 per share.
Looking at its long-term chart, the current run-up is so dynamic because it is the sub-wave iii of wave (iii) of major wave 3 of mega wave (3), after completing its 'inverted head and shoulders' formation.
There is another property stock that has formed an 'inverted head and shoulders' pattern and has not yet fly is Glomac Bhd (Rm 1.13)
Its earning is considered weak. For its last quarter ending 30th April, it managed to make only 3.03 sens a share. Net assets reported is Rm 1.22 per share but I believe its net assets should be much more than that with the rapid appreciation in value of its properties over the last few years.
The chart looks nice but if it is not ready to move, holding it over months at its current level can be very frustrating, especially for senior citizens that have not much time left. :)
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