Great to have some technical analysis on KNL - appreciate it.
A bunch of us long term holders have suspected something like this was occurring as well. Since the funding announcement there has been a few occasions where this has happened in the after-market with a sale of one share to drop the price.
Would you be able to explain a couple things for us TA newbies if you wouldn't mind:
- What does dropping the price by half a cent right on the close achieve? Does it give others the impression that the price is falling which causes weak hands to sell the next day (only to sell the shares directly into the hands of the capper)?
- Do you think they will only accumulate until the announcement is released then sell on a gap-up open?
- Also just want to clarify that the principal behind accumulating is to sell your own stock to yourself to give the impression of a falling price in order to trigger stop losses and have weak hands sell. Then the seller sweeps in and purchases the shares they sold back plus any other that become available due to weak hands / stop losses.
Cheers
KNL Chart, page-9
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