KGN puked today down to a low of $3.45. The market can be brutal to those traders who are not aware of trend stages within a cycle. For KGN, it is in a strong stage 4 downtrend of lower highs, and lower lows. This is why I never hold (or buy) a stock that is trading below the 200-day moving average. Frighting events (huge down gaps, continuous declines, and even sometimes, permanent suspension) often occur when a stock is below the 200-day (40-week) MA.
As a former market darling high-flyer, KGN is dropping just as fast as it rose. When the next macro stock bear market arrives, many traders will be shocked at how low former high-flyer stocks can fall.
Rollin over in the clover......., page-84
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 (20min delay)
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Last
$4.71 |
Change
-0.030(0.63%) |
Mkt cap ! $476.1M | |||
| Open | High | Low | Value | Volume |
| $4.77 | $4.80 | $4.69 | $1.856M | 391.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1699 | $4.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.71 | 240 | 1 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| KGN (ASX) Chart |