Kincora ChartLooking at the chart for KCC it appears to me that we are approaching a break out point, either up or down.
Some points that lead me to think the break will be to the upside:
1) Chart is showing a Cup and Handle Formation
2) Chart is also starting to show an Inverted Head and Shoulders Formation
3) Fundamentally KCC is cashed up, drilling in a highly prospective location with a great team who know the district and have made huge discoveries in the past.
4) From what I can see, there are very few shares on the Ask up to $.19. What always needs to be considered is what is available on the secondary markets which I have no visibility. (Anyone who does, feel free to post)
On the downside:
1) Momentum seems to have gone away and we have been in a sideways drift for about 4 months now.
2) Not many shares on the Bid should a seller come to market
3) Uncertainty in the general markets in coming weeks
Chip