Some of the majors are taking up positions in anticipation of improved quarterly results to be announced in the half yearly report at the end of June or Mid July. Its quite normal activity 4-5 weeks prior to reporting and ex-dividend dates to see volume jump and then fade as the date is approached, hit or just passed. Depends of course on the quality of the report. The market is expecting a good turnaround in KZLs performance. If it doesn't get it the selling will resume in the short-term. For now though, the sellers are facing an uphill battle and I for one wouldn't want to be battling JP Morgan and co.
KZL Price at posting:
59.5¢ Sentiment: LT Buy Disclosure: Held
