Kepcorp tested the 25 day moving average but closed strongly above the 50 day moving average on Friday. It formed a bullish engulfing candlestick in the process which was very bullish. Volume was also very good.
However the Dow closed down 2% on Friday.
I hope to be able to get the chance to buy Kepcorp on Monday at $10. I think the $10 support will be strong.
Kepcorp is giving $0.10 + $0.45 (special dividend) dividend ex-dividend on 29 April 2008.
Kepcorp is announcing results on 24 April 2008.
Last chance to buy some?
Looking at the SMA/EMA crossovers it looks like a trend change to the upside has just started.
One trading method states that you wait for the first trading day to make lower lows and lower highs after the crossover point and you mark that day's range. Then you wait for price to go above the high of that marked day's high and that would be the entry signal.
If on Monday Kepcorp has a lower low and lower high than on Friday, that would be the "mark day". A price move above the mark day would be an entry point.
I think looking at the $0.55 dividend buffer plus the added results reporting coming on 24 April I'll be a bit more aggressive and buy in at the 25 day moving average support level.
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