Interesting question - not sure of the answer, but one guess is profit taking following the late December Santa rally.
Looking at historical prices, I pulled out the daily charts for December/January period over the last 4 years. There's something of a consistent pattern.
Back in January 2017, there was a parabolic rise, but this was the exception. For each year since then, KGN has opened the new year with a pullback:
2016-17 - back when it was under $2
2017-18 - flirting with $7
2018-19 - down to $3-$4 range
2019-20 - exploring $7 and beyond
KGN Charts, page-57
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 (20min delay)
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Last
$4.10 |
Change
-0.050(1.20%) |
Mkt cap ! $412.5M | |||
| Open | High | Low | Value | Volume |
| $4.11 | $4.12 | $3.98 | $4.383M | 1.082M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6130 | $4.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.11 | 5126 | 3 |
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| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| KGN (ASX) Chart |