It is normal for a share to come up then plateau for a short time before moving up again.KZL moved up to 74c from 46.5. Then it retraced to 57.5 before moving up again.This move up to 69c which is a resistance level. It will consolidate around this area for a short time before it will move up again and break up from the 69c resistance level. The TA analysis tells the storey in picture form.
Fundamentally KZL has many of its base metal coming on production.It also has copper from Queensland which is doing fairly well because of copper price. Its other base metal prices are also improving.Our market is in Asia which at the moment is doing very well.
This is my interpretation only. IMHO, DYOR as every individual situation is different.
KZL Price at posting:
66.5¢ Sentiment: ST Buy Disclosure: Held
