Not too sure why no one cares to talk about the price action after the closing bell. In my experience, I have not seen anything like this before. Bullish price action on a very good day usually closes not far from the highest high recorded on that particular day. In the case of KGN, the closing price from yesterday was some 4% higher than the highest high recorded on the day. This was unusual price action for me, particularly on a very weak market day. This is probably something to do with some short covering. As they say, the amateurs usually open the market and the professionals come and close it. I believe the price action recorded yesterday is an indication that the share price will do better in the coming days and weeks. The first resistance is now around $4. If the price action exceeds the $4 mark on a strong volume, then the next resistance will be just over $5 before it starts to pull back.
KGN Price at posting:
$3.32 Sentiment: Buy Disclosure: Held
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