KRC has been in a steady decline in SP since 9 May 2018 @9¢ close to today 17 May 2018 @7¢ close or 22% decrease.
The chart has had Black Marubozu's at close each day 15th, 16th May and I hate to say it, but also today. However, its position within the broader technical picture is also important. It may show a potential turning point and that prices have reached a resistance level. After a long decline, it may signal panic or capitulation, a final sell off attempt before bulls regain control. Still, the candlestick alone is not reliable enough to decide the direction of the markets, since it reflects only one day’s trading.
In regards to the announcement today 17 May 2018 I liked:
Directors Comment
"The initial drilling on the Trudi Vein has opened up very exciting potential for repeats of the high grade shoots similar to most epithermal gold systems."
Which ranged from 1m to 11m and grades of 4.11g/t up to 27.9g/t and (90.7g/t from a hole at KMRC026). I had to use Google to find out the meaning of epithermal gold systems:
https://www.geologyforinvestors.com/epithermal-gold-deposits/
Why are epithermal deposits important?
Well they are a major source of gold, providing about 12% of the world’s annual gold production, in fact they are the second largest producers of gold globally after the
Witwatersrand deposits.
https://www.geologyforinvestors.com/largest-gold-deposit-world-witwatersrand-gold-fields/
I for one found the announcement informative and as such looking forward to the end of this month or early June. Once again I broke my trading plan and bought more. Constructive criticism always welcome to any of my posts.
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As usual these are my own interpretations and not financial advice.
