Interesting question - not sure of the answer, but one guess is profit taking following the late December Santa rally.
Looking at historical prices, I pulled out the daily charts for December/January period over the last 4 years. There's something of a consistent pattern.
Back in January 2017, there was a parabolic rise, but this was the exception. For each year since then, KGN has opened the new year with a pullback:
2016-17 - back when it was under $2
2017-18 - flirting with $7
2018-19 - down to $3-$4 range
2019-20 - exploring $7 and beyond
Interesting question - not sure of the answer, but one guess is...
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 (20min delay)
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Last
$4.06 |
Change
-0.095(2.29%) |
Mkt cap ! $406.4M | |||
| Open | High | Low | Value | Volume |
| $4.11 | $4.12 | $3.98 | $3.156M | 782.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 3740 | $4.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.06 | 3483 | 10 |
View Market Depth
| Last trade - 13.28pm 10/07/2024 (20 minute delay) ? |
| KGN (ASX) Chart |