The last week's price action was a steady step in the right direction.
Monday's trade began with a gap up, but slipped to a new intraday low of 4.85 [item 1]. By Friday though, there were 5 consecutive days of rising daily opens and closes [yellow line].
Thursday saw a very brief double top at 5.26 [purple line], suggesting a new line of resistance. In any case, Friday's close went slightly higher than Thursday's close.
A confident view of the price chart would say that a new floor has been formed. A more cautious view would need more confirmation before agreeing to that:
KGN Charts, page-199
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 (20min delay)
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Last
$4.56 |
Change
0.020(0.44%) |
Mkt cap ! $458.7M | |||
| Open | High | Low | Value | Volume |
| $4.57 | $4.62 | $4.47 | $1.781M | 392.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $4.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.57 | 1096 | 1 |
View Market Depth
| Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
| KGN (ASX) Chart |