Katanga Mining Ltd Ord KATFF

Dissappointing Results, Technical Breakdown, Bears Out

[mgentili]

230.7million net loss in Q4 - very dossappointing. After yesterdays huge dump it makes you wonder if insiders knew about the bad news coming out before hand. This news will only provide more fuel for the bears. Yesterday it broke a bunch of key support levels on the chart at 1.70, 1.68 and 1.61. Also closed below the lower bollinger band which is a sign of a breakdown (opposite to a breakout when closing above upper bollinger) and we closed at the low of the day. All of these signs point to more furthered downside today coming. This reminds me of so many other small cap mining plays that go on a big run, trap alot of investors near the peak and then slowly fade into oblivion over time.