The charts might have been how you spotted them first zedon but you could have picked up on them as being 'hot' a couple of days ago from any page showing major movers for the day. Even at 13 cents they were up 30 percent plus from a couple of days previous.
I don't buy that 22 million shares traded today on the back of chartists. I don't even buy that it's a leak. I believe what we've seen the last 2 to 3 days is a position being established by either another company, fund or broker on behalf of very well heeled clients. Todays trading is easily the biggest daily volume for KRL ever. Your volume graph gived you an idea of just how large the volumes were in relative terms. The frenetic pace of the buying and apparent disregard for driving the pirce up suggests to me that whoever is taking the position also believes news is imminent and that regardless of the price rising a few cents the will more than make up for it in the short term. Otherwise there's been plenty of cheap buying opportunities over the last few months and if the buying was done in a more controlled fashion they could still be picking up shares several cents cheaper than they have been over a period.
That's my take on it. I'm not a fan of TA for a number of reasons but you do what works for you. It does seem to have you in the right place at the right time here at the moment.
Illiquid
KRL Price at posting:
15.0¢ Sentiment: None Disclosure: Held
