The upward movement looks still intact?.From a weekly...

The upward movement looks still intact?
.
From a weekly perspective KNB had a good week, moved up from 7.6 to 8.5 with new 52 week high of 9.4. Volumes very good.
.
So what does the price action say? It looks that the up movement trajectory is still on. Although there was a drop from 9.4 to 7.6, but very strong buying again at 8.5. Previous week there was very strong buying at 9, it was very similar at 8.5 this week. The drop, close to 20% from 9.4 to 7.6. This is nearly exact as the drop from 8.1 to 6.5, close to 20%. So in line with the trading pattern. So looks fine till now.
.
What are the factors driving share price? First, results, which has been good. Second, Gold price which is still playing around all time highs. And lastly Mr Datt. He has been a big buyer in last few months. Before a big chunk he picked in Placement (40m shares at 1c for $400k, and another 17m at mid 2s for another $500k) and Off Market transfer from GUE (35m for $1.12m at 3.2 share price). But lot of last month buying is on market. If you have someone buying big time, it will lead to price increase, it will not let price go much down.
.
One thing is significant and is a factor. Mr Datt is now on 15% as of last Monday. He cannot go beyond 20. So there was another 50m or so shares he can pick from market. This week, after Monday disclosure by Mr Datt, over 130m shares were traded. Not sure how much he picked. There was a strong buying last Monday on 9. Big attempt to hold that number. Same day we got Mr Datt sub. And based on numbers, he seemed to be buying. This Friday it was at 8.5, but even before that, some similar buying. So fair to assume he may still be adding. Question is - what happens after he reaches 20 and that buy pressure goes? The best case scenario is that Results are then advanced and can stand on their own. Gold price is holding or going up. Also, we can see based on Mr Datt buying, he is made multiples by now. Some of his shares are in escrow. But I feel he has a bigger plan in mind, especially with board spill and all, so should hold and may not have any exit strategy for now.
.
Personally I am still holding my core holding from early 4s. But did play this 20% swing based on last rise pattern. I will be watching to see if 7.6 level holds, if not I may have a think.
.
So what may happen next week? All 3 factors I mentioned that may be contributing to share price rise are still intact at this stage. So we should see similar trading pattern, which is positive, in play. All the best.