As long as we are holding ground above 60 we still remain in a short term uptrend, yesterdays bar closed on a high which is good, BUT volume has been steadily dropping and the bar has a narrow range and was inside thursdays action. IMO, I cant see recent action as Bullish, in fact if we break below 60 Id be bearish, we are at a place on the chart where we are unlikly to stay for to long and a break in one direction is imminent. 88 and 120 are pie in the sky figures. agree if it breaks 65 it is most likely to get a run up till 68 where there is very strong resistance, it'll take some big volume to break that level. if it does then next resistance is at @75 and then @81. Fundamentally I think we are below fair value and downward potential for this stock cant be to great, Id be amazed if we broke below 50 again! So I guess you could look at it like this, max downside loss 10cents max upside gain 20cents, less to loose and more to gain? Cant see any reason why its going to "bolt" less theres a takeover in the wind. IMO
KZL Price at posting:
62.0¢ Sentiment: Hold Disclosure: Held
