I think there are bigger worries at this stage, price action broke down today, a new low, a new closing low, and more importantly a break of support - That should be a real concern.
From a chart perspective, if its broken 16, then I'm afraid we may see 13 - I really hope not.
On a side note, they say the biggest winners of the David Jones profit downgrade were the hedge funds shorting DJ's. Well I hope we don't have a case of Deja Vu here with shorting and news imminent. Though here is the latestshort position
Product Product Code KAGARA LTD ORDINARY Reported Short Positions KZL Total Product in Issue 10534666 % of Total Product in Issue 798953117 Reported as Short Positions 1.31%
Would anyone like to have a look at the charts for me please?
Regards Mayo
KZL Price at posting:
15.5¢ Sentiment: LT Buy Disclosure: Held
