KMC : Possible spike to 0.73
March 31, 2011 Leave a comment
Coming alive after a very boring sideways down period, KMC has decent support at 0.56, and with a 3 spread stop might tempt some for a punt back to 0.60 or so. The stock is of course dangerous and can be prone to wild swings due to rather obvious market maker activity, and as such should come with a financial health warning.
A move to 0.73 or so may ensue going in to April, so watch the flows, and if they remain strong for another short while 0.70 or so should be hit quite quickly. A daily close or two above 0.61 will be a rather bullish sign, and if it occurs within 2 trading days, all the better.