Hi Froggy044, the obvious catalysts for a move to the upside for KAR are as you listed. We all know that with every new multi-tcf discovery we can expect at least six cents to the upside at least, so by my rough calculations KAR only needs about 73 more multi-tcf discoveries to get to $8.47!! Huzzah!
All joking aside, the catalyst could be anything - the news overnight of Buffett taking a big chunk of Exxon (http://www.cnbc.com/id/101200102) could well be the start of the reversal. There are a lot of fund managers who mimic Buffett's moves, and his US$3.45 billion punt is a pretty big buy signal for O&G stocks, and it will no doubt have an impact on sentiment towards all oversold O&G stocks.
elliott wave count, page-32
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Last
$1.88 |
Change
-0.055(2.84%) |
Mkt cap ! $1.509B | |||
| Open | High | Low | Value | Volume |
| $1.88 | $1.88 | $1.84 | $16.72M | 8.961M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 271337 | $1.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.88 | 56082 | 6 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |