So haven’t posted in a while. Wow this has been a great run from the murky depths.
My thoughts are that there’s still upwards potential here. The upwards SP movement has been supported by higher volumes. The weekly chart will show strength if we see > 7 million units traded by close of play Friday and the SP stays flat or rises of course. We had 5.5 today and 5.3 yesterday so it’s looking promising.
From the daily perspective we had a very slight dip in volumes, and a thinner spread which still reached new highs however. I would expect a little retrace perhaps on the day chart? I wouldn’t expect over 8 cents this week but quite possible next week with continuing volume and no adverse news. Saying that, about $200,000 would see the SP touch 8c which by the sounds of some of you, isn’t deeper than your pockets.
One concern I have with this stock is shaky trigger fingers though. A lot of the LTH’s including myself have once been bitten so might be quick to panic sell. That’ll be great news for those who are hoping to stack up in the hopes that the Gold / PFS are legit.
Looking at the numbers I can’t see why the SP should shit it’s dacks though. There’s lots of potential and just imagine the feeding frenzy if this baby touches 12c
KRR Price at posting:
6.5¢ Sentiment: None Disclosure: Held
