Katanga Mining Ltd Ord KATFF

RE:RE:TECHNICAL ANALYSIS UPDATE (very bullish)

[bigguy56]

I believe that today's action can be fairly easily explained and the Bulls are in control. I was watching the stock all day with the intention of selling some of my position at the end of the trading day. I was lucky enough to get in at 1.10 when the good news about the settlement broke. I was watching today's action with pleasure until it started to fall at about 2:20. However, it is easily explained. At about 2:40 PM EST this piece of news came out: "BRIEF-Glencore Says Looks Forward To Supporting KCC's Closer Partnership With Gcamines BRIEF-Glencore Says Looks Forward To Supporting KCC's Closer Partnership With Gcamines June 13 (Reuters) - Glencore PLC: * LOOKS FORWARD TO SUPPORTING KCC'S CLOSER PARTNERSHIP WITH GCAMINES AS PARTIES WORK TOGETHER * MUST OBTAIN WRITTEN CONFIRMATION FROM SPONSOR TERMS OF SETTLEMENT WITH GCAMINES ARE FAIR AS FAR AS SHAREHOLDERS OF GLENCORE ARE CONCERNED * GLENCORE AIMS TO OBTAIN WRITTEN CONFIRMATION ON OR BEFORE 14 JUNE, 2018 " Well, 14 June is tomorrow. Glencore needs written confirmation on this deal before it is finalized. The fall from 1.50 to 1.35 occurred at about the same time as this came out. So it shook some nerves. Of course it did. I can't believe that institutional investors would buy in until some due diligence was done and this deal was rock solid. Another thing to keep in mind is that in the company press release on this (go to their website) a 2-week time frame is given for closing of the deal. My impression of today's action is that there were 2 forces at work: profit-takers (the stock has gone up 30% in a few days) and bulls holding it up. The result was high volume but not much price movement. My feeling is that the upswing will begin again once the profit-takers clear out. Today's news caused a temporary fall from 1.50. Tomorrow will be a huge day if this confirmation is announced. I am not going to do a thing until some news is released. And I will be quick to sell after an upswing. I may buy at the end of a trading day, since most news is released after hours. It surprised me that the news of the deal came out in the middle of the trading day. That is odd. I happened to be able to take advantage of it immediately. Others were not so lucky. Good luck to all.