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Hi Jako, Thanks for the above commentary, big day today for KNM,...

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Dogtooth

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24/11/17

00:34

Post #: 29073758
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Originally posted by Jako8557 ↑

Sorry, somehow I missed your post.

I haven't been watching it very closely, but just had a quick look.

When price spiked up last week, but closed in the middle. It drew out some increased supply (and price cannot sustainably rise when supply is present).
So the response when there is 'supply coming in' is usually to not support any further rise until price can pullback a little and attempt to shakeout the supply and to absorb (buy) it. So you want to see volume reduce, particularly when price is moving lower (that way it will only be a shallow and quick pullback - which in itself would be a sign of strength).
Once that process is done, price is then free to push higher again.....unless the supply issue is ongoing, when a deeper pullback may be nessesary.....and hopefully it does not become overwhelming.....it doesn't look like it has done any serious damage so far.....

cheers

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Hi Jako,
Thanks for the above commentary, big day today for KNM, really on what I thought was average announcement - simply doing what they said they would do. However from what I see, that is very important for confidence. No big sales increase although my view poised.

What is your take from a TA point of view? Plenty of upside? Very tight shares I think.
Cheers
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