Sellers are simply trying to flush out holders who bought higher and buyers who feel KZL is good value and has good future prospects are taking up the slack. The volume is quite incredible. This stock probably averaged 2-8 million shares a day over the past 12 months. Just today some 37,901,022 shares traded hands. It was like a game of tennis just before 4pm - even second sell at 16.5 was followed by a buy at 16.8 & sometimes 17c with lots of 16.8 buys going through at much larger volume than the seller volume. After market is hard to measure but I don't think a final finish of 16.5 says anything. It closed at 4pm at 17c. There is very strong volume absorbing everything being sold and it's presenting a massive wall of resistance to go lower.
Looks to me like this will continue for until the next quarterly with a potential big jump that might be followed with a bit of a sell-off depending on the update.
I'm not selling regardless until it's back to $1-$2 in 1-2 years and I'll get it. I always do. I have time on my side and I intend to use it but the tennis game is fun to watch in the meantime.
KZL Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
