KGN 1.47% $4.03 kogan.com ltd

Not too sure why no one cares to talk about the price action...

  1. 324 Posts.
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    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.
 
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Last trade - 16.10pm 08/08/2024 (20 minute delay) ?
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