KAR 1.79% $1.38 karoon energy ltd

1.50 is a major support line. So if it breaks on the daily and...

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    1.50 is a major support line. So if it breaks on the daily and weekly close, we go lower towards 1.12, which is the next major support level. The low set around March 2020 of 34 cents is surely unlikely to repeat. So my bet would be somewhere around 1.12. (Breaking 1.12 is unlikely, but if it were to happen, support around 75c should prevail.)

    All we can say at this stage it's going down. The DDE (demand destroying event) is around the corner and is surely going to provide a wonderful buying opportunity soon.
    Last edited by chillicapital: 05/09/24
 
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