Received a brokers report a week or so ago which gave a glowing report on KIM.
At the moment KIM literally doesn't seem to know where to go. ON the 4th it surged in price although it wasn't accompanied by a good increase in volume (bad) ... and this could easily have been a sucker rally as an increase in volume had been seen on the 28th June with no real change in price. Anyway ... it followed through with good volume and settled at 62c. This looked to be its new support ... and was almost text book stuff.
BUt ... it then fell back though this on low volume ... had a brief rally ... and then yesterday fell back again.
Its these last 3 days which are worrying ... as they dont show anything in terms of support/resistance. There is also the tendency for this stock to have very low volume days (75000) and also for it to reduce in price on very low volume ... which makes liquidation of shares a little difficult.
Im waiting for it to show some volume and either bounce off 72, or show that 62 is good.... till then .. just watching for my trading rules to be setup correct.
KIM
kimberley diamond company nl.
