KNM

KNM(7164) is the one of top 30 mover these few weeks. i choose this stock to monitor due to it is the top volume of trade. we can look through the chart above, it price is cross over the 21-day Exponential Moving Average(EMA); Relative Strength Indicator(RSI) is stay at 58.9%; MACD is cross over and rising up; Parabolic is support the candlestick to step the higher level of price.

Fundamental of KNM Group is good. KNM is a manufacturer of Oil and Gas services and Equipment. KNM was invested in Verwater company which is related to storage tanks and terminals design, construction and maintanance. In detailed, KNM announced that its 100% subsidiary which is KNM International(KNMI) has invested and subscribed for 100 ordinary shares of RM1.00 each for a 50% equity stake in Verwater for only RM100. Verwater recently signed a contract with Lenstar Investment Ltd for the job. So, KNM will be allocated more jobs by Verwater. Recently, Global economy is on recovery track which will boost demand for Oil & Gas and fuel demand for its process equipment when new projects commence. Its closing price of 18th September 2009(Friday) was RM0.79. Its target price is RM1.00.