Kingsgate (KCN)

i think you have a decent chance - this one is known to spike down.
I chose the same price actually, but ive tranched it

one half @ .75
second half @ 0.56
 
I think it wont go that low!

My plan is to buy early next week and then anticipate a no tapering by the fed and a moderate rebound in metal prices.
 
Im waiting till christmas new year, ive already 'predicted' (i use that term losely as it should be used in this context) a new low for the metals and the gold miners index.
 
I viewed the lack of bounce in gold stocks as buyers being so shell shocked they no longer trust any rise will last very long
 
6/12/13 KCN to be removed from a S&P/ASX 200 Dow Jones stock exchange index. Not a good thing.

10/12/13 Macquarie Bank Group raise their ownership of KCN shares from 6% to over 9%. Wonder if this is a good of bad move for retail investors?
 
Large capital raising - institutional offering at discounted price of $1.00. Share price fell to ~$1.00. :|
 
Caution: This guy's timing can be pretty off at times
[youtube]http://www.youtube.com/watch?v=Y3tSOWGH_GM[/youtube]


Disclosure: Ancient small position
Sentiment: ummmmm

Chart: Price has meandered beyond the downtrend resistance line rather than 'broken out'. Candle bodies are nice and small, suggesting exhausted selling for the time being and quiet unhysterical buying. Gentle positive divergence to the price from the indicators. Still technically in a downtrend since pattern of lower highs lower lows has not been broken


5 YEAR MTHLY
1893_kcn_mthly_5_yr.gif
 
^^
"Kingsgoat"

Too early to say? I wouldn't buy it unless it breaks out, if at all. But it still fits within the scenario of a possibly bottoming gold stock as the last low at ~0.70 June 2 has not yet been exceeded.
 
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