Keck Seng may be worth looking at now

In August 2010 Keck Seng accepted the general offer of Parkway shares and made some RM260 million gain.
On 30th November 2010 Keck Seng proposed a one (1) bonus share for two (2) shares held.
Upon announcement share price gap up and eventually hit the upper limit at RM7 of the uptrend channel.
Thereafter, its price went into consolidation which I think is partly due to the sale of 134,100 treasury shares in the open market from 13th January 2011 to 19th January 2011. Will there be any further sale? Your guess is as good as mine because Keck Seng still has 1,840,300 treasury shares. If the sale were to continue there will be further weakness. The weakness may be a blessing in disguise because this may give opportunity for me to accumulate some so that I can hold them to enjoy the bonus issue which is to be completed by first quarter of 2011.The current price is RM6.42 and a good entry may be RM6.30 and if this cannot hold RM6 will be a better entry.
Keck Seng is a well managed company and holds some valuable assets like 4.9 million shares in PPB Group and 2.8 million shares in Chin Teck Plantations

Th  The above Keck Seng Chart is just added (8th February 2011) to view how the consolidation as I mentioned above has panned out. The consolidation, according to my opinion, has taken its course and has thus formed a base for the next upward move. RM6.34 is now the immediate support should the upward move fail to take off.  I just bought at RM6.62 for a long to medium term ride otherwise if I am proven wrong I intend to stop out at RM6.34 for a 4.5% potential loss.. If the ride up is in my favour I will watch for the RSI to hit above 70 before contemplating to take profit.