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.
KGN puked today down to a low of $3.45. The market can be brutal...
-
- There are more pages in this discussion • 76 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add KGN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$5.09 |
Change
-0.030(0.59%) |
Mkt cap ! $513.8M | |||
| Open | High | Low | Value | Volume |
| $5.08 | $5.12 | $5.03 | $1.389M | 273.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11095 | $5.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.11 | 1638 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| KGN (ASX) Chart |