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Marked a is the TK LOI. trading just previously had been with 30 Support that had recently just been broken. At the time it's was hoped 30+ would be regained and most importantly Stay There.
But that wasn't to be. Subsequent Trading saw even 20 support Broken and we nearly did 10 cents.
Bad,Sad Days but there was a Rally out of back to the 20's, only for momentum to be stifled by a 17 cent CR and over subscribed SPP.
KNL couldn't seem to regain and stay 20+ subsequent to this CR.
Marked B is sudden death of Chairman afternoon June 15th. SP went 17 down right in peak Tax Loss Sell month further limiting chances of 20+ and staying there. Some substantial Holders seem determined to cap at 20cents, distribute[sell] not accumulate [buy].
In typical HC fashion theories appeared as to who's selling ? My preferred is the Chairman's Estate, a very Substantial Holding that I haven't researched and confirmed needs to issue Change of Holding Notices each 1% [that'd be sale about 1.8 mil shares]
Selling Estate shares in August by an Executor of a mid June estate is about right time line for such liquidation. I'm afraid Executors are not really into maintaining portfolio's especially if they are arm's lenth not beneficiaries [a lawyer not family member]
Anyhow that to me is a Possible MAJOR SELLER come Trading Halt Lift.
My Left Field, Ratbag view
Anyhow I can't see any valid pattern that gives Target Prices. Can't do imo fibonacci extensions. I do think KNL SP is very "lucky" to be in HALT during this DOW Down. Those gaps could have been closed 15 even 12, especially if my executor was executing his brief.
Anyway the Boys of the Day Thread persuasion will be brushing up on Breakout[BO] Theory with 20 as the break out line.
The Gun Exponents of BO theory advocate Trade the Trade [ie No Setting Targets]. One has a 3/5 screen Trading Room running dynamic live data [no refresh button piffle] and one has 1/5/20min charts together with instant course of sales data.
As KNL can be shorted . Well there's that double dynamic in play too.
You should note that over 20 centsish has little established resistance lines from the last 3 months and every one cent/pip is 5%+ on a 18/20 base.[of current holds]. In a DT world 15/30% is 'notable'. For some a single pip on $100grand is their Go and of course this "pipping" gets leveraged bt CFD's.
So actually when you see Tuesday on the depth, half million bids and asks get 'line wiped' get fearful nix ecstatic. [bogey men running, names lit
]
Anyhow most here are Long Term Fundamental Investors who are more of the Warren Buffett Tradition than the Jesse Livermore so the news is just confirming Fundamentals and one day Hi Jinks is just a joke, hey?
Let's see it STAY all Month and Quarter above say 30.
cheers
(20min delay)