Your Dogginess, how do you do?
You asked about the technicals on KEG. I'm not an expert so take this with a grain of salt.
According to the candlestick chart, KEG shows a hanging man pattern. For the hanging man to appear, the price action for the day must trade lower than where it opened, (KEG did this), then rally back to close near the high, (KEG did this too). A hanging man often appears near the high of an uptrend.
stockcharts.com[l,a]declyymy[pb50!b200!d20,2][vc60][iLb14!Lk14!Ll14!Lg]
This is an indication that the market might just begin to sell-off. If KEG opens down on Monday, there will be many participants looking for an opportunity to lock in some profits.
If KEG is to continue it's uptrend in the near term, it will need a catalyst. Very bullish API's for example. The fact that Francis John has filed to sell shares won't help KEG's upward movement near term.
Other indicators support the uptrend will momentarily discontinue.
The Relative Strength (RSI) indicator shows KEG didn't break the 70 level, a level that must be broken with good volume in order for the uptrend to continue.
Take a look at the OXY chart, but ignore Friday's activity, prior to Friday is what you need for KEG to move forward. Notice how OXY broke 70 on the RSI and did it with strong volume.
stockcharts.com[l,a]declyymy[pb50!b200!d20,2][vc60][iLb14!Lk14!Ll14!Lg]
The ADX indicator shows the green line (buyers) heading down and the red line (sellers) heading up. This is the battle between the buyers and sellers. If you'll notice, when the buyers had control (green line heading up) and a lack of sellers (red line heading down), KEG's share price was rising.
The On Balance Volume (OBV) shows the stock is under liquidation. I suspect, as you do, that someone big is getting out. It could be Lehman, could it be John or is it too soon for him to start selling?
Anyway, Monday's opening should be the key to short term success or failure.
I appreciate you contributions Doggy, keep up the good work.
dabum |
