Update on Kepland 5 April 2008

Kepland broke out upwards from its downtrending channel this week. $5.80 is the 50 day MA and looks to be the support. However note that this is the first move above the 50 day MA starting from the downtrend. So it is likely this will retrace back down.

Fibonacci levels are as shown. The 200 day MA caps at the 61.8% fibonacci retracement level.

Update on Kepland 29 March 2008

Still trading in a downward channel. But it seems like it may have bottomed at $4.85 on 27 March 2008.

Breakout on Monday? $5.70 would be breakout level. Immediate target is $5.83 (5.83-5.69 gap cover) followed by $7.12 (7.12-7.08 gap cover).

The problem is that I haven't seen broad based moves across property counters nor any news to suggest improved sentiments for property developers.

KepLand

Kepland is going down in the same manner it went up. We have reached the horizontal consolidation region 4.40 - 5.00 which will be a support level. Necktie noted at $8.14 which will be a resistance level.