I have not yet decided what to do personally, but traders should already have decided...
From an NFTRH email update on Sept 6 (incl. the attached chart):
"I wanted to update you on an interesting technical situation on Keegan Resources (KGN). The daily chart is attached.
KGN looks like it may want to play some catch-up as it is sneaking out of a downtrend line, up volume is strong, MACD has just gone zero+ and the stock appears to be under accumulation (by OBV). Resistance is above at 8.50, with support at around 8 and just below. A break of the resistance at 8.50 would probably propel the stock to new all time highs. [edit: in the time it took to write this update, HUI has reversed to negative on the day, which is oh so predictable. It does point out that patience is always a good thing with respect to gold stock buying. i.e. don't chase them!]
KGN is well financed I believe through a majority of the way to production, but is also a buyout candidate. Liquidity is an issue with today's market and a well financed company with strong assets (Esaase gold project in Ghana) and no debt is notable. Management is experienced and as you know, KGN is a long time core hold for NFTRH. Please do your own research as this is not a recommendation. It is a technical highlight on an NFTRH holding."
Here's KGN now:
http://www.biiwii.blogspot.com
http://www.biiwii.com
From an NFTRH email update on Sept 6 (incl. the attached chart):
"I wanted to update you on an interesting technical situation on Keegan Resources (KGN). The daily chart is attached.KGN looks like it may want to play some catch-up as it is sneaking out of a downtrend line, up volume is strong, MACD has just gone zero+ and the stock appears to be under accumulation (by OBV). Resistance is above at 8.50, with support at around 8 and just below. A break of the resistance at 8.50 would probably propel the stock to new all time highs. [edit: in the time it took to write this update, HUI has reversed to negative on the day, which is oh so predictable. It does point out that patience is always a good thing with respect to gold stock buying. i.e. don't chase them!]
KGN is well financed I believe through a majority of the way to production, but is also a buyout candidate. Liquidity is an issue with today's market and a well financed company with strong assets (Esaase gold project in Ghana) and no debt is notable. Management is experienced and as you know, KGN is a long time core hold for NFTRH. Please do your own research as this is not a recommendation. It is a technical highlight on an NFTRH holding."
Here's KGN now:
http://www.biiwii.blogspot.com
http://www.biiwii.com
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