Hi All, First thanks for the charts from Sandybeaches and Fiendishredbeard. They are great short term charts and it shows that traders are starting to come into this stock.
For a longer term view below is a 2 years daily chart
As can be seen from the chart the stocks have been basing for about one year with resistant at 15 cents. That is long enough for most traders and short term holders to give up and sell out. What are left now are mostly investors who if you like are true believers. Hence when there is an interest shown in the stock there is a dearth of sellers as can be seen in the last two days. It only takes a small amount of buying to push the stock up much higher. Now that this stock has come into the attention of traders the momentum will probably continue. But momentum cannot sustain a rising share price; in the end it is the fundamentals that sustain the rising share price. And this stock do has great fundamentals. I am very confident the very young uptrend that has just formed about 2 months ago is sustainable because the fundamentals justify a much higher price. Any chartist who look at the 2 year chart above will see great potential in this stock
Cheers and good investing
KMN Price at posting:
22.3¢ Sentiment: Hold Disclosure: Held
