just checked the KNL chart - 8 months - daily... I think there are a few things which seemed pretty bullish to an amateur, L-plated chartist in me..
1. Golden crossover - 63-day EMA just crossed over the 150-day EMA (21-day EMA had recently crossed over the 63/150 EMA a few days ago)
2. a cup and handle formation in progress (I would say it is completed) - if so, then a breakout on crossing 23.5c a target of 31-32 is possible)
3. long tail on Friday - shows the market is ready to absorb any supply - pushing price down is not going to be easy
4. highest volume in a while observed yesterday
all in all pretty bullish... your comments on my amateur observations?
KNL chart - pretty bullish
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Last
11.5¢ |
Change
-0.010(8.00%) |
Mkt cap ! $52.21M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 12.5¢ | 11.5¢ | $56.60K | 471.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 37983 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 10500 | 1 |
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| Last trade - 15.54pm 12/07/2024 (20 minute delay) ? |
| EGR (ASX) Chart |