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Wednesday, September 13, 2006

KS Energy

As requested by MICH. Listed since 11 March 2002 on SGX Mainboard, KS Tech Ltd is a leading supplier of oil & gas equipment, hydraulic equipment, instrumentation, valves, spares and parts to the oil & gas, marine, mining and petrochemical industries in China and South East Asia.

From chart, prices form a top between 2.55 to 2.43 and when 2.43 was taken out, prices begin its descent until today where the decline was halted at 2.20 region supported by the 50MA and a close 100MA. Expect another significant support at the 2.15 level. RSI is turning up from the oversold region. A rise above todays closing of 2.25 would confirm the reversal.

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